Currently no restrictions on /EU citizen / foreigners buying property in Bulgaria.
If you’re working with a real estate agent the process is likely to be relatively straightforward regardless. If you’re buying directly from the owner, however, you may find your price is inflated, even up to twice the cost of what might be offered to a local person.
As such, it’s a good idea to engage a local agent to help you with the process if you can, as they’re likely to have a better deal. It’s fairly common to use a proeprty agent to find property in Bulgaria, especially in more remote rural regions.
If you’re ready to buy in Bulgaria, the following steps can help give you a rough idea of where to get started:
1. Decide which region you'd like to live in and set a maxmimum budget.
2. Engage a real estate agent to help in your search
3. Find a property
4. Make a offer
5. Transfer and sign the document on front of the notary public (solicitor) which is response for to perform the property searches, including the land registry, ownership rights, boundaries, and rights of way.
Selling property in Bulgaria. Around 30% of all property sales in Bulgaria are selling out privately. Many sellers are put off by the commission rates that are payable to estate agents in Bulgaria.
However, although superficially attractive, private selling may not be a suitable option for everyone.
Most properties sold in this way are smaller house in rural areas or one bed apartments in resort, where the demand for such properties is stronger. if you want to market the property to the Bulgarian market as well as international buyers, then you are probably best to market the property through property agents. The decision depend on just how quick you need to sell your property, marketing the property with several agents is likely to be the most effective approach.
If you do decide to sell the property privately, then you will need to arrange for the schemes/plans and state valuation to be carried out, also arrange the notary public. If you are in a rush, and need to sell the property quickly, then you may need to consider selling through an auction. Welcome to our guide to using an estate agent to sell French property.
The operation of estate agencies in Bulgaria is regulated. Choosing an Estate Agent Your decision on which estate agent to use is going to be influenced by many factors, including;
The level of their fees;
Their availability to your enquiries;
Their experience in the profession;
Their estimate of the value of your property;
The quality and reach of their website;
The additional services they are able to offer;
The quality of the description of property.