How with the help of VIA EGNATIA to buy a property?
I.As you have taken a decision to buy a property, you need to come to our office to introduce you our offers of all kinds of properties and to get into the condition of the market with the help of our real estate agents.
By them you will receive full and detailed information about the condition of the market, the property prices in certain regions.
II.After you have chosen the property, you sign a contract for intercession by VIA EGNATIA.
In the written contract the relationship between you and the agency is defined, the contract guarantees you security of your interests.
As concluding the contract you will be able to discuss every clause in it.
The contract commits the client with VIA EGNATIA with all rights for intercession. When there is an agreement from the client for all rights of intercession /for a certain period of time/, there are much availabilities for him.
The client pay a commission of the agency only if he buy a property by VIA EGNATIA.
III. The next step is making an inspection of properties that the client has chosen when talking and viewing the offers of the agency.
1. The inspections are made in a suitable time for both sides - the client and the seller.
2. The inspections of the property can be made with or without the owner of the property/only the client with the real estate agent/
IV. Steps for concluding strike, in case the buyer would like to become an owner of a property.
1. Giving a deposit.
In case, the buyer would like to buy the property, he can lead to VIA EGNATIA a deposit for a reservation of the property for a certain period of time until the moment for concluding the preliminary contract.
2. Preliminary Contract
- In case the buyer agrees with the terms of the seller for the deal, VIA EGNATIA organize the concluding of the preliminary contract.
- When signing the preliminary contract both sides agree with defined periods of time, prices and conditions as to go to a notary and to conclude a notary contract.
- When signing the preliminary contract the buyer gives to the seller a deposit. /usually 10% of the property price/
- The contract is made by the lawyers of the agency. The lawyers fee is connected with the preparation and signing the notary contract included in the commission of the agency.
- The seller has the right to confide the preparation of the documents to his own lawyers or notary.
- At the day of signing the preliminary contract the client pay the stipulated commission of VIA EGNATIA.
3. Conclude the notary Deed
- VIA EGNATIA prepares the documents for concluding the notary contract and ensure a notary for the deal without adding additional fees.
- The client has the right to choose his own lawyer or notary.
- The real estate agent is at the signing of the notary contract and when the seller takes from the buyer the money for the property. The real estate is booked with clearing any questions connected with the process.
- The real estate agent is at the assignment of the property. Usually the assignment of the property is made at the day of signing the notary contract, sometimes have cases when the assignment of the property is made in a later period of time /when there is an agreement of both sides/.
- The assignment of the property is a law action which gives the buyer /the new owner/ all rights over the property.
Purchase expenses of the buyer
I. The announced price of the real estate property
The announced price for each property on our site is the price VIA EGNATIA negotiates with the owners of all proerties entered in the database.
In many cases the announced price is negotiable with the vendor depending on the specific terms of the deal
The announced property price DOES NOT INCLUDE :
- the intremediary remuneration for the transaction (commission)
- the service fee (charged only for transactions with no commission from the buyer)
- the amounts due from the parties in the form of local tax, notarial fees and court fees for the inscription of the notarial deed.
II. Intermediary remuneration (commission)
- The buyer pay a commission, discussed and written in the contract of intercession of VIA EGNATIA.
- The commission is paid only in case of making a deal by VIA EGNATIA.
- The buyer doesn’t pay the commission if he buy a property by the help of another agency.
- The commission of VIA EGNATIA is 3% of the price of the property but no less than 500 / five hundred / euro for propertes situating in the bordevi of the town
- The commission of VIA EGNATIA is 3% of the price of the property but no less than 500 / five hundred / euro for propertes in villages and in the regions outside the town
The intermediary remuneration (commission) includes the following services :
- inspection of the property documents for encumbrances and past transfers of ownership ( inlcudes the issuing of an official document by the Registry Agency);
- attorney's fee for the preparation of the noatrial deed and all other necessary documents (the client has the right to choose a lawyer to represent him );
- hiring a public notary (the client has the right to choose a notary public);
- advice on the current market situation and the prices for the specific market segments;
- initial consultation on the rules in realizing the transaction;
- consultation on the necessary documenation and legal requirements concerning the transaction;
- introducing the client with the best terms for obtaining a BANK CREDIT
- III. Local tax, notarial and court fees
We feel obliged to inform you of the usual practice for expenses (local tax and state fees) on real estate property purchases and sales in Bulgaria to be divided equally between the parties- seller and buyer. There are exceptions to the rule depending on the conditions and compromises negotiated between the parties.
Our role of consultants and agents is to offer you the most successful solutions through existing practice.
Local tax- 2,5%
Each real estate property deal, transfer or establishement or real right on immovable property on the territory of Bulgaria is liable to taxation (local tax) under the Law on Local Taxes and Charges.
For puchase and sales transactions the amount of the tax is 2,5% of the selling price for the property and is calculated (on the announced price according to the notary deed) by the notary public engaged for the transaction.
Notarial fee (collected on the basis of a tariff by the notary legalizing the transaction according to material interest- the price of the property in the notarial deed)
The notarial fee is collected in accordance with the NOTARIAL FEES tariff under the Notary Act. You can learn the exact amount of the fee provided that you have gathered all the required documents or have already negotiated the selling price of the property.
Feel free to contact our agent on this matter, he will provide you with a figure for the fee.
Registration fee- 0.01% (collected by the Registry Agency after the notarial attestation)
The registration fee is collected for each document with certified material interest, such as the notarial deed. According to the REGULATIONS ON ENTRIES, subject to entering are all acts for transferring the ownership (sale, grant, exchange etc.) or for establishing, transferring, changing or terminating other real right on the immovable property, as well as acts recognizing such rights (ascertaining notarial deeds, acts for state and municipal property etc.).
Acts, subject to entering, and entered are given publicity, thus becoming examinable for encumbrances and previous transactions for each separate property. Verification of the property status is an inalienable part of VIA EGNATIA’s obligations.
According to the Tariff of State Fees, collected by the Registry Agency (effective 25.11.2005 and published in issue 94/ 25.11.2005 of State gazette):
For the registration of acts and documents a fee is charged either on the price on which the document or act has been taxed or on the price of the claim in the amount of 0.1% but not less than 5.00 lv.
Addressing a professional real estate agent will prove nerve saving and will spare your money and effort.