Selling a property in Bulgaria is a process that needs preparation. Most of the people who owns property in Bulgaria are not awere that they owe taxes toward municipality and other institutions. The selling process includes few very important procedures that the owner must have in mind.
Before taking the property to the property market the owner is better to consult solicitor who can explain the entire documentation that is required according to the Bulgarian law.
No matter of the nationality each owner have title deed.TITLE DEED isthe main and most important document which clarifies that the seller is an owner. The title deed is needed in order the solicitor to check what is the status of the owner into the municipality. Most of the time people don`t even know whether their property is registered or not into the municipality / declared according to the Bulgarian law/. By not declaring the property after purchasing it the owner is facing the first major problem. The law is clearly saying that each owner has 2 months period of time after signing the title deed to declare the property into the municipality. If he doesn`t do that he will be penalized plus the interests each year. According to our law each owner must pay his municipality and garbage taxes up to end of March.
All taxes must be paid up to date in order the owner to recieve a documents called- Tax valuation of the property. That document is one of the most important for the sale of the property.It is required from the law and it is given from the municipality.
The second and most important part of checking the legal status of an owner is the Cadaster institution. That institutionovers the districts of Bulgaria which means that for Burgas district the Cadaster is sitauted in Burgas and combines all the area from the border to Varna`s district. Cadaster provides detailed floor plan of the property.If the owner is selling an apartment than he must apply for the plan of the apartment. If he is selling a house he must apply for two documents which will be spread one for the building and one for the land. That document provides detailed information regarding the borders of the property, the owner`s details also and the detailed adress. The law requires all the information from thosedocumentsto be exaclty the same as they are described into thetitle deed. In case of differences between the Cadaster plans and the notary deedsa legal procedure of fixing the mistakes has to be started. Such procedure sometimes takes months and that is why checking the property into the Cadaster is the most important part of the solicitor`s work.
Once the taxes and the Cadaster are checked the property can be advertised for sale. In order those procedures to be done from the solicitor the law reuirespower of attorney. That power of attorney as well with all other required documents must be signed and stamped with apostils from the owner.
The documents that must be stamped with apostils apart from the power of attorney are 2 declarations for each co-owner. One of the declarations is for the marriage status and the second is for unpaid taxes toward the government. Those declarations has 6 month expiry period once they are stamped.
Once the power of attorney and the declarations are with the solicitor the apartment can be sold.