Costs in buying apartment

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dariuscork

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Could someone please tell me what costs have to be paid in Bulgaria in relation to purchasing an apartment,legal expenses etc.?
 
Hi Darius, I bought an apartment for €64,000 , costs were in the region of 3% for notary fees , €50 for Bulstat registration and €50 for notary bank charges . A solicitor will cost about €1000 I believe ,though mine charge €1,800 , If your getting a mortgage out there you'll pay the mortgage broker , and for me charges of €860 for the bank to give me a mortgage plus 5% of the mortgage to pay in penalty if it is paid back early. plus €150 a year to have a registered address in Bulgaria which is apparently a necessity. Also watch out for the furnishing costs , I had a very bad experience with the selling company looking for €6,000+ for a studio apartment.
 
Two things:

1. My answer was to the question "what is the cost for purchasing an apartment", not what borrowing money for such purchase would cost. In general, as per previous discussions, I consider it rather unwise to buy property via mortgage unless (i) for tax reasons (write-offs) and (ii) you do have independent source for covering the whole amount borrowed, if need be. If the second condition is not met, in my opinion you are simply gambling, period.

2. What TonyO reports here is simply a ripp-off. A decent company would provide you with a solicitor for a fraction of the amount mentioned. Not to mention that many would have the legal costs of the purchase included in the price. Also, Bulstat is needed only when you register a company in BG, and for the future owner of an apartment that is not at all required: as a physical person you are entitled to that by definition.

Ivan D.
www.dukaty.com
 
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