It is common in Bulgaria for real estate agents to offer a ‘full service’: that is to act for both the seller and buyer and do all the legal work. This can present a problem when the agent is acting for a developer – selling off-plan for example. We think there needs to be a degree of separation; an independent eye should make sure that things are as they should be.
We can be your independent eye … contact us
Buying in Bulgaria? Already bought? Talk to us first.
Basil Preuveneers, (www.notary.co.uk www.preuveneers.net ) talks to dozens of buyers every month – particularly people buying in Bulgaria – about their foreign investment and buying experiences.
Business strategist, Lisa Preuveneers MBA, CMgr, FCMI, regularly travels to Bulgaria to source investment opportunities and to meet with her network of lawyers, accountants and real estate agents
Portfolio management
Buy to let in the UK is not what is was, however this market still exists in Bulgaria. Individual investors interested in building a buy-to-let residential portfolio need to buy in the ‘right’ places… and beware of guaranteed rental schemes… they are not always what they appear to be. Consider whether to buy in the name of a company, or as an individual there are advantages and disadvantages to both. Some agents suggest that each property is bought in the name of a separate company – the reason given is that you can then sell the company with the property as an asset. Not always a good idea…
Investment Consortium
Notary Bulgaria Ltd has put investors together to buy land as a consortium. This service is offered to new investors. The minimum investment to the scheme is 30,000 Euros. Email to register your interest or for more information
Benefits Include:
• Economy of scale
Parcels of land are offered for sale in varying plots sizes ranging from 2,000 square meters upwards. The larger the plot, the more attractive it is likely to be to a future developer buyer. Therefore ‘entry level’ investors are better off ‘clubbing together’ to buy larger plots - unless of course the investor wants to buy a small plot to build their own house on.
• Inspection visits can be arranged
• Low entry level investment enables new investors to participate in the purchase of strategic land
• Lower acquisition costs
• All acquisition and legal processes coordinated by Notary Bulgaria Ltd |