Dear Sir/Madam, Because of receiving huge number of inquiries each day which regards to procedures and costs associated with properties in Bulgaria, we would like to explain the problem below.
Purchase of apartments and locals
Conditions of sale and purchase apartments in Bulgaria are the same as in Poland and whole European Union. Purchase is made by notarial act which is prepared and signed in the country in which the property is buying. Transactions in Bulgaria are performed only in Euro.
There are two variants of purchasing:
We would to emphasize that ILS Poland Group is a licensed broker (who has liability insurance) and co-founder of the Polish Chamber of Real Estate – PIN. We care about the best buyer interest in every purchase option. There are three possibilities of signing the contract which has to carry about client interests: in Poland, in Bulgaria or by correspondence.
In both variants, buying property is associated with several basic steps. That process is completely carried out by the ILS Poland Group and looks as follows:
Nevertheless, the sites will is clearly specified in the contract what guarantees the security of transaction. Content of the agreement defines the brokers responsibilities and steps for its realization.
To meet your expectations, to resolve any doubts and answer the most frequently asked questions we would like to stress that developers with which we have signed contracts are always tested by us. They often have state guarantee, already comlpleted projects and satisfied customers (eg. Our natives from Poland permanently living in Poland, France, Great Britain, Ireland, Norway and other countries around world including lawyers, economists etc.)
To any real estate purchase, in this case an apartment in Bulgaria, except offer price should be added:
Most of answer to the potential questions are presented on our website, here is a link to the guide – Real Estate in Bulgaria – why is it worth.
In the territory of the Republic of Bulgaria all flats-apartments are acres. Every owner of the apartment (assuming that it is an apartment with many facilities in a closed complex) is required to sign a contract to manage the whole complex (the equivalent of our rent) with the administrator – usually developer. Price of the year-round property management is in the range from 4 to 15 euros per square meter for apartment
Components of permanent costs:
To take full illustrate, the above costs we are giving an example of studio apartment with total area 27,73m2. We assume that the cost of year-round maintaining for this apartment will be 5 EUR/m2 per year (according to the management agreement) which provide 27,73m2 x 5EUR what is 138,65EUR per year. This fee forms a cost of managing complex and includes the maintenance of common areas in that:
Additional fees are set on the basis of counter values and includes electricity and water consumption. Sometimes the fee for the property management includes also a flat charge for electricity and water accounted in annual fee or overpayment after the end of the calendar year.
In addition, due to the fact that each manager (management company) usually has signed contracts with tour operators and employs appropriate staff, you can also sign a management contract with the manager for a medium remuneration of the manager in the amount of about 25% of the profit generated from renting and then such a manager also deals with the comprehensive care of the apartment, i.e. cleaning, washing and change of bedding and towels, as well as investigating the condition of the apartment, each time before and after the rental. Alternatively, the owner of the apartment can order by phone or e-mail each time the cleaning service and replacement of bed linen and towels for the complex manager, and once this service costs about 65 Leva cleaning and 15 Leva laundry and change of bedding and towels, but usually pay in advance by bank transfer to the account of the manager (management company).
Costs of complex ILS POLAND GROUP service:
ILS POLAND GROUP provides comprehensive service and conducting every transaction (from own offers bank or from sources indicated by the customer). During the purchase of apartments on the primary market the broker salary is covered by developer so the buyer is exempt from paying commission!
It is worth to mention that in some cases, when the apartments are more expensive some developers are also covering travel and accommodation costs.
*Any commission for brokering activities including comprehensive service and carry out of transaction can be determined only when you buy the smallest and cheapest apartments in the promotional ILS Poland Group terms, only when the seller is an individual or developer who does not pay remuneration. ILS Poland Group salary is set individually basing on the property price. The client is informed about this before taking decision.
IMPORTANT: The remuneration collected by our company for a comprehensive transaction in the case of real estate from the secondary market is the remuneration for the performance of activities, which is a huge amount, and the determined amount of actual salary is calculated at the lowest level and requires us to incur many operating costs, including among others:
ATENTION: ILS POLAND GROUP also provides comprehensive after-sales service, including assistance during furnishing and equipping apartments based on individual arrangements or separate agreements.
Additional and useful links:
Purchase of houses and plots
Conditions of sale and purchase plots and houses in Bulgaria are the same as in Poland and whole European Union. Purchase is made by notarial act which is prepared and signed in the country in which the property is buying. Transactions in Bulgaria are performed only in Euro.
The process of buying houses and plots looks similar to buying an apartment:
We emphasize that the ILS POLAND GROUP is a licensed broker (who has liability insurance) and co-founder of the Polish Chamber of Real Estate – PIN. We care about the best buyer interest in every purchase option.
There are three possibilities of signing the contract which has to carry about client interests: in Poland, in Bulgaria or by correspondence.
IMPORTANT: Registered company does not doing business, it occurs only as the owner of the land and therefore once a year should be accounted so called PIT-0 in the relevant local tax office – on client request by ILS POLAND GROUP.
Otherwise, the clearly specified sites` will in the contract guarantee the security of transaction. Content of the agreement defines the brokers responsibilities and steps for its realization.
To meet your expectations, in order to resolve any doubts and to answer the most frequently asked questions we would like to stress that available houses with plots from the secondary market comes directly from the owner-sellers and we are always checking it against formal aspect.
Cost of purchasing:
To any plot purchase in Bulgaria, except offer price should be added:
Most answers for the potential questions are presented on our website, here is a link to the guide – Real Estate in Bulgaria – why is it worth.
Property tax – on the territory of the Republic of Bulgaria height of the property tax depends on the community in which the property is located, it varies at 25-100 EUR per year.
Moreover, once a year, after completion of the calendar year ILS accountancy on behalf of the companies owners is made to the bulgarian competent local tax office the annual tax return, so called PIT-0. It indicates that the company is not active and only remains the owner of the built or unbuilt land. Costs of preparation and submission of annual tax return varies between 60 and 90 EUR
Additional fees are based on the counter values, it includes normally consumption of electricity, water and waste disposal.
Costs of complex ILS Poland Group service:
*ILS Poland Group provides comprehensive service and conducting every transaction (from own offers bank or from sources indicated by the customer). The brokerage activities commissions including a comrehensive service and carrying out a transaction is determined individually in Bulgaria, of course assuming that the buyers intention is to purchase only house or land.
ATENTION: ILS POLAND GROUP provides comprehensive after-sale service including assinstance the immense renovations of houses and during furnishing and equipping it, basing on individual agreements or separate contracts.
Additional and useful links:
Real Estates in Bulgaria
Real Estates in Egypt
Real Estates in Portugal
Real Estates in Spain
Real Estates in Turkey
Real Estates in Germany
Real Estates in Greece
Real Estates in Brazil
Real Estates in U.S.
Real Estates in Poland
Real Estates in Szczecin - Poland
Estates by the sea - Poland
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