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Choose legal advisor Bulgaria
Bulgarian government launched a property advisor’s list in Bulgaria, which contains useful information about legal steps for purchasing, buying selling property in Bulgaria, property maintenance and all charges, fees and taxes involved.
Every foreigner could get the most important information for property acquisitions from the website, which offers also a contact form to answer public inquiries of foreigners in Bulgaria. This guide is intended as practical advice to consider when buying property in Bulgaria.
Do your internal property research for Bulgarian market
Thorough area research and companies contracted developers, estate agents and lawyers) is highly recommended. Examine the full range of properties, suggested by different agents, compare prices and ensure you are paying a fair price, discuss them with your trusted property lawyer in Bulgaria.
Extreme caution is advised. Do not rely on estate agents, promoters or lawyers, who advise you to cut corners in order to save time and/or money. Bulgarian property agents work much differently than property law in UK, therefore it is in your interest to make sure you are working with experienced and qualified professionals.
Register a Limited Partnership in Bulgaria
Should you choose to work with a Bulgarian estate agent, promoter, verify their qualifications and experience on the Bulgarian market in particular. Consult your expectations with your Bulgarian property lawyer or search online forums to verify other customers’ experience, use them to ask legal & technical questions.
Seek independent legal advice
Many property owners are now having legal trouble, since they failed to look for independent legal advice and allowed lawyers and translators, recommended by the estate agent or developer. Engage a property lawyer in Bulgaria, experienced in property transactions, who is not in any way related to other parties in the transaction.
If you are using a Bulgarian-based lawyer, make sure that lawyer has a registration with the Bulgarian Bar Association. Ask for the lawyer’s registration number and verify it using the Bar Association’s website or the Bulgarian Bar Registers.
If you are employing an Bulgarian property lawyer’s office, make sure that lawyer’s office is registered with the Bulgaria Law Society and specializes in International property transactions.
Verify the professional liability insurance of your Bulgarian property lawyer.There are no requirements for liability insurance for your Bulgarian property lawyer.
Avoid signing any papers or paying any fees before you’ve consulted with an independent legal professional advisor. Call us before you close the deal and save your money & time .