Sell property in Bulgaria: 5 things to know

Sell property in Bulgaria. 5 important things to know!

If you are planning to sell a property in Bulgaria, you will need to make a good research before putting your property on the market. Here are some tips for successful sale:

Finding a trustworthy registered local real estate agent

One of the most important things to start with will be to find a local company to assist you with the sale of your property in Bulgaria. When looking for real estate, it’s always good to search for local agencies. Those who are based in the area where your property is located. The local agent knows best the specifics of the properties in this particular area. They are familiar with the developments, property prices, authorities, and regulations. And they will be at disposition to make viewings by any potential interest in your property.

Always read testimony and recommendations about the agency that you have chosen to use.  If there are people happy to share their experience with this agency and they have been happy with their services, then it all seems positive. Just go for it!

Using a certified solicitor

It’s very important when attempting to sell a property in Bulgaria to use professional legal assistance. Because there could be a risk for you if you don’t ensure a safe receipt of your money. Using a solicitor trustee account is one of the ways to save the receipt of your funds. Also, the solicitor will protect your interest making sure that all clauses of the preliminary and/or deposit agreements will be equal for both parties.

Using a good accountant

Many people are not aware about the tax obligations which may arise for them once selling a property in Bulgaria. It’s obligatory to seek advice from an accountant to make sure whether you are exempted from paying capital gains tax, VAT, etc. The consequences if this has not been obeyed could be extraordinary for you. That’s why always ask for accountancy advice upfront.

After-sale services

Not many people think about the after-sale process as an important one, but there are some things you need to bear in mind when the sale has been completed namely: It’s good to give a note in the Tax office that the property is no longer in your name. This can be done by providing a copy of the Title Deed for the sale. The same can be done in the  Bulstat register, Electricity and water supply company if there are individual batches for the property you used to owe it can happen that even if you have sold your property you can still keep on receiving bills on it.

Emotions

And last but now least if you feel emotional about selling your property in Bulgaria, you need to know that you can always come back for a holiday or buy a new one in years to come. Bulgaria has got so much to offer, so come and see us again!

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