Frequently Asked Questions
Issues in the purchase and sale of real estate
ImoExpert's consultants are true professionals who have a deep understanding of the market and constantly monitor its changes. They are familiar with the dynamics of supply and demand in any particular period and strive to provide the best conditions for their clients. The company's consultants distinguish themselves as exceptional mediators, valuable collaborators and indispensable advisors throughout the process. They have an extensive and diverse database of high quality properties.
The following documents are required to purchase a property:
- Buyer's ID Card
- Notarial deed of the property
- Property tax assessment
- Sketch of the property (for land)
- Certificate of no encumbrances
- Bank credit agreement (if applicable)
A sketch of the property can be obtained from the Agency for Geodesy, Cartography and Cadastre (AGCC). They are responsible for maintaining registers and plans relating to land and property. The sketch can be inspected in any regional town in Bulgaria at the Office of Geodesy, Cartography and Cadastre (UGCC).
To make a donation of a property in Bulgaria, the procedure must be carried out before a notary in the district where the property is located. If any changes to the documentation are necessary, for example deletion or inscription, you should contact the relevant registry office, following the orders of the registry judge.
Ideal parts of a property are defined as the ratio of the sum of the area of the detached object and the storage rooms attached to the object divided by the sum of the area of all detached objects and attached storage rooms in the building. The formula for the calculation is ID.X(%) = (Floor Area/Floor Area)*100, where Floor Area is the floor area of the property and Floor Area is the floor area of the entire building. This determines the percentage of the common parts that belong to the given property.
To establish the boundaries between properties in Bulgaria, property owners can file a claim for the establishment of boundaries. The claim is applicable when the boundaries are undefined or when a neighbour has encroached on your property. Both parties have to prove their ownership rights, and an expert may be appointed.
The first step is Act 14, which is the document of acceptance of the building structure. It is obtained when the building reaches the stage of so-called "rough construction" and is of great importance because its receipt, in fact, certifies the exercise of the right to build. It is drawn up and signed by the investor (developer), the consultant (building supervisor) and the designer. When this Deed has already been received, the notarial transfer of the property can proceed and the buyer can obtain the document certifying his ownership - the deed.
After Act 14 in new construction, the next stage is Act 15. This is the document that states that the building is fully completed. It is drawn up by the builder, the investor, the building contractor, the technically competent natural persons for all parts of the project, the person exercising building supervision, the designers for all parts of the project, the licensee within the meaning of the Energy and Energy Efficiency Act, the concessionaire, representatives of the operating companies. The purpose of Act 15 is to establish the condition and readiness of the construction for its commissioning, it is a declaratory act certifying that the construction has been carried out in accordance with the approved designs. In practice, this means that the construction is handed over from the builder to the contracting authority. The document is signed by both the competent officials and the owners of the objects in the building. The Act of Form 15 is the basis for drawing up the Protocol of Form 16 for establishing the suitability for use of the construction.
The Act of Form 16 is the final act that finalizes the construction and certifies that the object is actually fit to be commissioned, i.e. fit to live in. In practice, it is accepted to use it as a generic term instead of "Occupancy Permit", but there is a difference between the two and they should be distinguished depending on what category of construction is involved. Site inspection is concerned with the legality of the building you have built, the veracity of the designs you have used and the consistency between the designs used and what is physically on site. If we are talking about buildings from the 1st to the 3rd category (motorways, roads, facilities, etc.), Act 16 is issued by the relevant state acceptance commission. On the basis of Act 16, the relevant regional directorate for national building control issues the Occupancy Permit. However, if we are talking about constructions from the 4th to the 6th category (residential and mixed buildings with low and medium construction, villa buildings, etc.), Act 16 is not drawn up, but a Certificate of Commissioning is issued by the respective Chief Architect at the respective municipality.
The ownership of a property on the territory of the Republic of Bulgaria is verified in the Property Register. It is a system of data on real estate on the territory of the Republic of Bulgaria and consists of the lots of individual properties. It records the acts by which the right of ownership or other real right over immovable property is recognised, transferred, amended or terminated. Foreclosures and mortgages on immovable property shall be included in the property register.
The Property Register is used to make enquiries about the ownership of properties, owners and property rights and restrictions on them. References are made on the spot at the registry offices in the country or electronically upon payment of a fee set out in a price list and user registration.
A sketch of a real estate is one of the necessary documents you will need for any disposition transactions with the property, such as purchase, donation, mortgage, etc.
Changes in the cadastral map shall be made in respect of all changes in the boundaries of the immovable property at: removal of incompleteness or errors, removal of manifest factual error, application of detailed development plans, change of boundaries of land properties as a result of change of boundaries of administrative-territorial units, land boundaries and boundaries of territories with the same permanent purpose, application of constructed and annexed buildings, deletion of buildings, application of new buildings, as well as division or joining of separate objects in buildings or in technical infrastructure facilities, change of boundaries of land
If an error is found in the cadastral maps when reflecting the boundaries of a property or a building, the owner should apply to a legally qualified licensed person for cadastral activities for the preparation of a draft amendment to the cadastral map. The project shall be filed and examined at the State Cadastral Cadastral Commission of the location of the property to assess whether it meets the necessary requirements.
In order for the land (plot) to be regulated, there must be a detailed development plan (DDP), which clearly defines the boundaries of the property, access to it from a street, road or alley, its purpose and other important parameters in terms of the possibilities for construction on it.
During this process the following are defined:
>> the specific boundaries of the lot- its face to a street, road or alley; the side boundaries and those at the bottom of the property to neighboring lots;
>> the intended use - what activities are even allowed on the property and what building can be done.
In terms of the development itself, the settlement determines:
>> which way it should happen- be free, connected or group;
>> the height and storey of the permissible construction;
>> its restrictive (those lines up to which building is permissible) and mandatory (the boundaries where building is mandatory) outlines;
>> some indicators of the development are calculated:
>> what percentage of the lot to be developed;
>> what percentage to absorb;
>> what should be the intensity of construction;
>> what percent of the lot shall be the minimum undeveloped area;
>> what percentage of the yard area must be required to be landscaped.
The main advantage of property consultants lies in their competence and excellent knowledge of the property market. Their expertise and access to data gives them the ability to not only always be aware of the current state of the market, but also to anticipate its direction as far as possible. By choosing to work with a specialist in the field, home buyers and sellers are guaranteed both peace of mind in the transaction process and savings on a significant portion of the party's closing obligations. Of course, to be able to go through a property transaction completely calmly and smoothly, it is necessary to seek the assistance of an experienced consultant and an agency with a time-tested reputation. In order to prevent the process of buying or selling a home from becoming a troublesome one, it is necessary to do your research beforehand.
ImoExpert's team of professionals are dedicated to providing high quality service and customized real estate solutions. Our priority is to help our clients find the perfect property for their needs and preferences. We take a comprehensive approach, combining professional real estate knowledge and experience with individual attention to each client.
