Our Fees and Charges

Premium Properties BG operates using the Euro (€) as its favoured currency in all transactions. Please enquire should you wish to purchase using an alternative currency.

Registering a Bulgarian Limited Company
(This is necessary if purchasing land, or a property with land or garden.)
We will set up your new Bulgarian Limited Company (with your chosen Company name) on your behalf, and our fee includes registering with the National Companies Register, the National Tax Register Authority, and National Insurance.  We also open your Company Business Account in a Bulgarian Bank for you.
For this service we charge €800 which includes all state, legal and solicitor’s fees.

Property Viewings
We will endeavour to source in advance of your visit all properties on our books within your stated criteria, which may include price range, area, and property type etc. 
Our friendly and experienced staff will then meet you at a prearranged time either at our offices or at your (local) accommodation, with transport as necessary, to view these properties. This may take several days according to the number and choice you wish to see, and all properties we show you can be viewed internally unless otherwise stated in advance.
Viewing with us is free, although we charge a small expense of  €0.30 per km to cover our fuel and vehicle costs.

Our Commission
As your agent we charge 3% commission; not less than €2 000euros.

Deposit
You can reserve a property with a non-refundable deposit of 2,000 Euro, payable by bank transfer to our company bank account. After receiving the deposit the property will be marked as RESERVED, no further viewings will be carried out, if any viewings are booked, they will be cancelled, we will then start the preparation of the necessary documents for completion of the deal.

Important Information
In Bulgaria the terms ‘tax estimation price’ and ‘purchase price’are frequently used in property purchase.  The ‘tax estimation price’ is used for real estate taxation and is usually lower than the actual ‘purchase price’. 
Most Bulgarians selling their properties prefer the ‘tax estimation price’ to be written into the Title Deed rather than the ‘purchase price’ which you, the buyer, is paying. Due to this practice there may be a discrepancy between the price you pay and the price written in the Title Deed. Premium Properties BG cannot be held responsible for this discrepancy should it occur.  If you wish the ‘purchase price’ to be written into the Title Deed, please notify us well in advance so that we may negotiate with the vendor. However, the vendor may still choose to use the ‘tax estimation price’ in the Title Deed if he so wishes.
POA
If you will not be available in Bulgaria to sign all the necessary paperwork as and when required, it is usual to set up a Power of Attorney (POA) which allows both us, as your Agents, and the Lawyer acting for you, to negotiate and sign on your behalf. The POA can be arranged at the same time as when forming your Company and again we can guide you through this.

Included In Our Charges
Here at Premium Properties BG, we do not charge for sourcing suitable properties based on your individual requirements, either through offers already on our books or by searching for properties new to the market.

We do not charge for qualified legal or financial advice concerning the purchase of property.

We do not charge separately for searches on your chosen property, which include:
Checks on the Title Deeds to verify the vendor is entitled to sell. Checks that there are no debts liable on the property.
Checks on the court records.  These searches are undertaken by our qualified solicitors and are included in the commission we charge. You do not pay extra for these services.

We do not charge for arranging accommodation or booking hotels on your behalf, although we ask for a minimum of seven days’ notice where possible. And we do not charge to meet you at the local airport, train or coach station and to transfer you to your accommodation, you are just covering the petrol expenses of €0.30 per km , and we are happy to help with registration on arrival at your hotel, translating where necessary.

Extra Charges
Building Surveys: these can be arranged on your behalf, but are not included in our charges.  Rates for this service are variable according to the survey company employed and the location of the property.

Property Insurance: once the purchase has been completed, we will be happy to give free advice on building and contents insurance.  Should you wish for us to arrange cover, we will only ask you the actual fee charged by the Insurance Company.

Building and Renovation: on retention of a key to the property, we can provide free estimates from professional builders who are able to carry out work to the highest standards. For us to show builders the work required, we just ask for €0.25 per km return journey from our nearest office, as per viewing trips.  

Furnishing: should you wish us to furnish your property for you, please contact us with your requirements and we will research the costs involved and supply a quote to you.

Other services offered:
Full company book-keeping
End-of-Year Tax Returns (required by law even if you have a nil return)
Accounting & other tax administrations
Utility payments
Key-holding and Property Management
Bulgarian Wills and Testaments

The Buying Procedure

FIND A PROPERTY WITH US!
Peruse the properties listed on our website, or email us a list of your criteria (type of property, price range, area in Bulgaria, etc) to see the range we have on offer. Further details of any properties you are interested in can be sent to you via email.
Although it is possible to buy without viewing, most clients prefer to come to Bulgaria and arrange to spend a few days with us looking at various possible purchases. We can help you with transport details and hotel bookings.

PROPERTY WITH LAND
You will need to register a Bulgarian Limited Company to own land (or garden). This is because the BG Constitution states that a foreign person may not own title to land.

REGISTER A COMPANY
The Company you own will then legally own title to the land. Forming the Company is relatively straightforward and we will guide you through this.

PROPERTY WITHOUT LAND
The purchasing of apartments does not require a Company to be set up as there is either a very limited amount or no land ownership at all involved.

POA
If you will not be available in Bulgaria to sign all the necessary paperwork as and when required, it is usual to set up a Power of Attorney (POA) which allows both us, as your Agents, and the Lawyer acting for you, to negotiate and sign on your behalf. The POA can be arranged at the same time as when forming your Company and again we can guide you through this.

NEGOTIATE
We, as your Agents, will advise you (on request) whether there is room for negotiation on the purchase price. As in the UK, it is normal to at least find out if a lower offer might be acceptable to the vendor.

VERBAL AGREEMENT
Once a purchase price and any other necessary negotiations have been agreed, a Verbal Agreement is deemed to have been made. This pre-empts the drafting of the Preliminary (or Primary) Contract, and is not yet legally binding.

PRELIMINARY CONTRACT
When you have agreed to purchase, we will draw up the Preliminary Contract setting out all the agreed details and stating the initial deposit to be paid. Once this has been signed, the property will be removed from the market and marked as 'Reserved'. A signed Preliminary Contract is a legally binding document.

SEARCHES
With the property 'Reserved', we will then make the necessary searches regarding:-
Title Deed Documents
Licences and Permissions
Debts on the Title
Terms of the Contract

NOTARY ACT
(CONTRACT TO PURCHASE)
The agreement to purchase the property is confirmed in front of the Notary Public. This is the final stage when the buyer and the seller (or their Legal Representatives) meet with the Notary Public to complete the transfer. The State and Municipal Taxes due on the transfer are also paid now.

You are now the new owner of your chosen property!
(Please note that in Bulgarian law it is usual for the vendor to have one month after the purchase date in which to vacate the property.)

On your behalf we will register your new property ownership with the local authorities after completion for rating purposes. This is a legal requirement.

We can also arrange:-
Security Alarm Installation
Building Quotes and Renovations
Building and/or Contents Insurance
Utility Payments
Company End of Year Tax Returns
Bulgarian Wills