Legal Support for Real Estate Transactions in Bulgaria
Buying or selling real estate in Bulgaria requires a well-structured legal process to ensure a secure and hassle-free transaction. Below is an overview of the key legal aspects and costs associated with real estate transactions in the country.
1. Notary Fees
Every real estate transaction in Bulgaria must be formalized in front of a notary public. Notary fees are regulated by law and typically range from 0.1% to 1.5% of the property price, depending on its value. This fee covers the authentication of the Notary Deed (Title Deed), which is the official document proving ownership.
2. Local Taxes and Fees
Upon transferring property ownership, a local property transfer tax must be paid to the respective municipality. The rate varies by location but generally ranges between 2% and 3% of the tax-assessed property value or the declared purchase price—whichever is higher.
3. Tax Assessment Value
The tax assessment (tax valuation) of a property is determined by the local municipality based on the location, type, and size of the real estate. It serves as the basis for calculating taxes and fees, including the annual property tax and the transfer tax. Typically, the tax valuation is lower than the market price.
4. Cadastral Sketch / Property Plan
A cadastral sketch (or property plan) is required for all real estate transactions and is obtained from the Agency for Geodesy, Cartography, and Cadastre. This document confirms the exact location, size, and ownership status of the property. The cost for issuing a cadastral sketch varies but generally ranges between €10 and €50, depending on the property type.
5. Lawyer’s Fee
Although not mandatory, hiring a real estate lawyer is highly recommended for verifying property ownership, checking for encumbrances (mortgages, liens, legal disputes), and drafting preliminary and final contracts. Lawyer fees depend on the complexity of the transaction and typically range between 0.5% and 1.5% of the property price or are charged as a flat fee (starting from €500).
6. Other Associated Costs
- Property Due Diligence Report – A lawyer may conduct a full background check on the property, ensuring no legal complications exist. The cost varies between €100 and €300.
- Registration Fees – The new owner must register the property with the Bulgarian Property Register after the transaction, with a fee of around €50 to €100.
- Bank Fees (if applicable) – If a mortgage is involved, banks may charge administrative fees, typically 0.5% to 1% of the loan amount.
- Translation & Interpretation Fees – If the buyer is a foreigner who does not speak Bulgarian, a licensed translator may be required, costing between €50 and €200 per service.
Secure Your Investment with Professional Legal Assistance
Navigating the Bulgarian real estate market can be smooth and secure with the right legal support. Professional lawyers and notaries ensure that your investment is protected, minimizing risks and unexpected costs. If you need legal assistance, consulting with a specialized real estate attorney is always advisable.
Contact us today for more details !
CasaBG Support Team – Covering the Globe with Properties 24/7
Central Office – Bulgaria
Location: Magic Dreams Complex, Opposite Supermarket Mercury Address: Yurta Under Road, Saint Vlasiy Boulevard, Sveti Vlas 8256, Nessebar, Bulgaria GPS Coordinates: 42°42’47.3″N 27°44’46.2″E
Email: sales@casabg.com
Contact Numbers:
Bulgaria:
- +359 876 777 592 (Bulgarian, English, Russian, Italian)
- +359 889 868 092 (Bulgarian, Italian, Russian, English)
United Kingdom:
- +44 7429 991 28 (Bulgarian, English, Russian, Spanish)
- +44 7415 845 804 (Bulgarian, English, Russian, French)
Norway:
- +47 92 093 397 (Bulgarian, Norwegian, English, Russian)
Customer Service Office Hours:
Monday to Friday: 10:00 AM – 7:00 PM