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Resales in Bulgaria

20 Jul 2012

Resales in Bulgaria

In our practice very often raises the following questions: Is it true that there on the secondary market we can safer and cheaper buy an apartment?

Now the Bulgarian market is full with "secondary property". It is property of West Europeans, who 4-5 years ago bought up property in Bulgaria on the zero stage construction, took credits both in their banks, and in Bulgarian banks to purchase the real estate. The 80% of the real estate put up in the Bulgarian banks. So the buyers need to make sure that the real estate which they want to buy was taken off a mortgage loans. When somebody transferring You ownership - You need good lawyers. What is dangerous in the acquisition of real estate from East Europeans, which on the Bulgarian market for 2-nd year: many have purchased real estate, were married, and when sell it now, do not report on this, do not fill the special  Declaration. The result - after a couple of years one more owner can appear and begin to be in litigation with You. This option is possible.

As well, many do not even have finalized their property and all taxes on their real estate pays the developer from whom they purchased (we are also the development and investment company, and we also have such cases.

Many sell their real estate and never came to Bulgaria, followed by debt: taxes, per apartment, electricity, water ... You also need to check everything thoroughly.

More reliable place to buy real estate is at first hand from developers, investors, especially those with a grand history in building.

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Resales in Bulgaria