Buying Guide

A home budget does not consist of the sale price alone. You should also factor in the property acquisition tax, which the municipality sets at between 0.1% and 3%, the notary fee, the land registry (вписване) fee, the real estate agent's commission, moving costs and any possible renovation expenses. You can see the estimated total in the calculator below.

If you will take out a loan, your down payment ratio directly affects the approval of your application and the interest cost. The higher the down payment, the lower the monthly installment and total interest.

Getting mortgage pre-approval from banks clarifies the budget you can search with and gives you leverage in negotiations. Compare the interest rates, term options and fees of more than one bank.

Pre-approval is usually granted quickly with proof of income and identification details. Because the approval period is limited, try to complete your home search within that time.

• Compare the monthly interest, application fees and insurance costs of at least three banks.
• Check your credit score before applying and try to pay off any outstanding debts.
• Ask whether transferring your salary to the bank gives you an interest advantage.

When buying a home, location is the most important determinant of value appreciation. Transport projects, urban renewal plans and social amenities in the surroundings affect the future value of the area.

When deciding on the type of home, consider your family's needs, the age of the building, floor and orientation preferences, amenities within the complex and the amount of maintenance fees together.

Be sure to check the title document (нотариален акт) of the home you like, its Имотен регистър record, its certificate of use, and any mortgage or lien records, if there are any. If you will take out a loan, the bank determines the home's value with a valuation report; this report also shows whether the sale price is realistic.

Visit the home at least twice, at different times of day. Get information from the building manager about structural soundness, dampness, thermal insulation and maintenance of the common areas.

• Verify ownership and mortgage and lien records in the Имотен регистър (Агенция по вписванията).
• Request the certificate of use (разрешение за ползване) and the tax assessment document (данъчна оценка) from the municipality.
• Have it certified that there are no maintenance fee debts, tax debts or utility bill debts.

Go into the negotiation prepared by comparing the market value with similar listings. Politely raising the home's shortcomings, its need for renovation and the sale prices of similar apartments is effective in negotiation.

Factors that benefit the seller, such as cash payment, a quick closing or a flexible handover date, are strong cards for a price reduction. Once an agreement is reached, put the terms in writing.

In Bulgaria, ownership is transferred by a notary deed (нотариален акт) signed by the buyer and seller before a notary, and the deed is registered in the Имотен регистър. Book an appointment; your ID, the seller's title document, the tax assessment document (данъчна оценка) and (if applicable) loan documents must be ready.

During the transaction, the property acquisition tax, the notary fee and the land registry (вписване) fee are paid. After you receive your deed, take over the utility subscriptions in your name and complete handover records, such as meter readings, with a protocol.