REA's services

REA's services combine customer service with thorough knowledge of the Bulgarian real estate market and culture. With REA you have access to:

• Dutch and Bulgarian real estate specialists
• An extensive database with a varied range of properties
• Consultancy service - Legal experts, immigration and accountancy experts and additional legal services.
• Our lawyers are on the list of recommended lawyers of the British Embassy in Sofia

What do we do?
We guide you through the entire process:

• We search and find the best properties for you
• Viewing the property
• Legal check on ownership, debts on the property and legal restrictions
• Handling of all relevant administrative formalities and documents
• Advice and representation
• Filling up and signing of the preliminary and final purchase contract
• Declaration of the property to the Bulgarian tax authorities

In addition, REA offers various additional services, such as:

• Carrying out an in-depth legal investigation into the status of the property (report in English, translated into Dutch if desired)
• If necessary, registration of a company in Bulgaria
• Taking out insurance
• Security
• Payment of annual fees
• Rental, management and maintenance of the property
• Hiring of contractors for renovation and construction projects and supervision of the work
• Advice and personal assistance in handling visa and immigration procedures

REA Searches
When you fill out the Searches form and email it to us, we can start searching for your ideal property based on the information provided, before you come to Bulgaria. Many properties are exclusive to REA, but if necessary we can also approach properties from other brokers for you - this will save you a lot of time and effort.

General information
Previously, Bulgarian law did not allow companies and individuals, who were not established in Bulgaria, to acquire land, but only buildings. In order to be able to buy land, it was therefore necessary to register a B.V. (in Bulgaria this is called an OOD) in Bulgaria. For EU citizens, this legislation has now been adjusted and it has become possible for private individuals to also buy land in regulation. If for some reason you still want to register a company in Bulgaria for the purchase of real estate, this is of course still possible. This process is relatively simple and you will be fully guided by REA. For more information, see additional services.

(1) Your wishes
REA would like to hear from you in as much detail as possible about your wishes and possibilities regarding the real estate you are looking for. Based on this information, REA will search for the properties that may be of interest to you as a potential buyer.

(2) Viewing the property
Before you travel to Bulgaria to visit the selected properties, REA will draw up a viewing schedule and discuss it with you. We suggest not viewing too many properties per day, so that you have sufficient time for each property.

If you are travelling independently, we can meet you at the airport and take you to your hotel or other accommodation. If your flight already includes a transfer to your accommodation, the company bus will of course take you to your hotel.

(3) I want to buy that house!
If, after viewing the properties, you have found the property that meets your requirements and have made your choice, the next step can be taken. REA will then contact the selling party to make your offer known and will negotiate the asking price. When the price is agreed, we always recommend that a lawyer carries out a detailed legal check on the property.
For example, due to the history of land restitution after the communist era, there are still outstanding disputes regarding the ownership of real estate. If possible risks are found, the lawyer will bring them to your attention and if these issues cannot be resolved, you will be advised not to proceed. Where possible, we ask our lawyers to examine the property for these aspects before it is put on the market. If everything is in order, a preliminary contract is drawn up. Often a reservation statement is drawn up and signed by the selling party, stating that the property cannot be purchased by the seller to other interested parties during the period required for the legal investigation.

(4) Signing the preliminary contract

This is the first formal step towards your ownership of real estate in Bulgaria. The deposit of usually 10% is transferred to the selling party or the lawyer and an appointment is made for the date on which the transaction will be completed, depending on the terms of the sale. This is also the moment when 50% of the fee is paid to REA for the services rendered. The fee is 3% of the price of the property, with a minimum of 1500 euros excluding VAT.

(5) Completion of the transaction can take place as soon as all parties are ready. This means that - if desired - your company is registered and the notarial deed can be signed. At that time, the outstanding amounts of the purchase price, fees and other costs are paid.

(6) Congratulations. Your own property in Bulgaria!!!

 What's next?
The lawyer will now take care of all the details, including registering the property with the local authority. This is all part of the service.

After the purchase
We can also help you with a whole list of practical matters, which are best arranged locally.

These additional services include:

• Advice on insuring your property
• Arrangements for paying gas, water and electricity, any staff, business tax and local taxes
• Click here for more information on tax matters
• Contracting, hiring and supervising contractors for maintenance or renovation
• If you are planning to live permanently in Bulgaria, we can help you find schools for your children, buy a car, find a GP and dentist, and much more!

REA's fee:

• 3% of the purchase price, with a minimum of 1500 euros excluding VAT. Costs for additional legal services and notary fees not included
• Commissions and bank fees, transfer taxes (3%) and court tax (0.1%) are paid by the customer

For viewing the properties we charge 40 euros for one day and 60 euros for 2 days. If the distance to the property is more than 150 km from Varna, these amounts are 60 euros and 90 euros respectively. This viewing fee will be refunded upon purchase.

Additional costs:

When signing the final deed of sale, the lawyer who drew up the notarial deed must always be present. The lawyer also ensures that two witnesses are present at the signing. The costs for this amount to 100 euros. If you use the additional legal services, you do not have to pay this amount.

Management of your property and rental?
REA can also advise you on all aspects of management and rental of your property.
For many of our customers, the property is only in use during the holiday period and it is very important to know that the property is well maintained, whether you have your property for use or want to rent it out. We can carry out a periodic maintenance visit, during which it is checked that the property is clean and tidy, things like gas, electricity, lights and security systems are checked, ventilated etc. Any damage found will be recorded with a digital camera, so that you can be informed of this by e-mail.

In addition, REA can ensure that the bills for gas, electricity and water are paid, but also bills for security or local taxes. You will receive a monthly overview with copies of the paid bills.

We can manage the keys to your property for you and hand them over to your guests at your request. We can also offer to receive your guests at the airport, or to have someone from REA present at your home when your guests arrive.

If you do not want to rent out your property, and only use it yourself, our service offers the assurance that your home will be regularly visited, checked and maintained. We can also arrange for renovations, garden maintenance, cleaning of the pool etc. to be carried out during your absence. When you or your guests arrive, you will arrive to a home that is in perfect order.

There is a good market for renting out the right types of property in the Varna area and the resorts. This can help you offset the costs of your investment, and can even become a source of income in the long term. Please note that you are obliged to declare this as income from your property. REA's tax expert can advise you on all tax aspects.

New Construction Projects
A number of our clients would like their home to be built for them. This can have many advantages:

1. You can design and build your property to your wishes
2. Lower price: it is considerably cheaper than buying an existing (new) house
3. You then have the opportunity to resell it with a good profit margin

But even for small renovations it is important to hire the right people and to keep a good eye on the job until it is finished. We can help you with complete construction projects and small renovations and everything in between.