We at Best Deal Properties are devoted to identifying the best investment opportunities in Bansko and the Bulgarian seaside regions. Currently, our main focus is directed at apartments which are ready to move in (buildings which have Act 16 permission to use).
Of course, we are watching out for other investment opportunities like “frozen” development projects, houses, attractive land plots, and commercial properties.
Apartment Purchase
Buying an apartment in Bansko can be a straightforward and secure process when all parties involved in the transaction are acting in a timely and coordinated fashion.
The role of a real estate agent is not only to connect buyers and sellers, but to make the deal happen in the smoothest possible way by coordinating all steps in the process with both parties. We can assist you in every aspect of the purchase process, from arranging transport and accommodation to recommending legal representatives and finding you a good furniture company.
The purchase process takes from 4 to 6 weeks and consists of several steps which are described below:
- The buyer decides to purchase a given property after viewing it with the agent and discussing all details concerning the given property.
- A Reservation Contract is signed between the Buyer and the Agent (acting on behalf of the owner) with a Reservation Deposit paid at the time of signing.
- Both buyer and seller appoint their legal representatives.
- Sellers legal representative prepares the following documentation for the deal completion:
- a document stating that the property does not have a mortgage or loans connected to it
- a document (receipt) that all municipal taxes are paid up to date
- a proof that the property is recorded in the local city planning database
- a proof (receipt) that all utility bills (water, electricity) are paid up to date
- written confirmation from complex management that all maintenance fees for the given property are paid
- a tax evaluation of the property issued by the local municipality tax office.
- When all documentation has been prepared by the sellers legal representative, both parties agree on the completion date at the notary office. Normally, the selling price (or the remaining part of it) is transfered on the day of completion unless there have been different arrangements between both parties. There is an additional tax (incl. notary fees, municipal tax and transfer fee) of 4% of the selling price that is written in the notary deed.
Please note, that the above process is the optimal procedure for completing a purchase.
If buyer and seller agree upon a payment structure which includes several payments over a certain time period, there will be a preliminary contract signed between both parties.
Please let us know if you need more information.