Company & complexes
- What kind of
company is your company?
- Are there
mortgages, loans or other injunctions associated with any property
of yours?
- When will the
complex be completed?
- Is the complex
luxurious?
- Are the
apartments fully furnished?
- Cable TV or
satellite?
Financial stuff
- Do you offer an
installment payment schedule?
- Do deposits have
bank guarantee in the event of non performance by the
developer?
- What would be
the discount given to a person who buys more than one
apartment?
- Do you provide
financial assistance to clients?
- Are there any
service charges?
- What does the
service charge of 8 Euros per sq.m. include?
- Do you deal with
the property management all year?
- Who would pay
the electricity and water consumed the cable TV tax?
Do I have
to come to Bulgaria every month to pay my
bills?
Rental opportunities
- Do you offer
rental management for clients?
- What is your
commission for letting the properties?
- Is the rent
guaranteed?
Laws & contracts
- What is the
procedure for booking an apartment? What is the reservation
fee?
- Can
non-residents own properties in their own
name?
- Are there any
building guarantees on the development?
- What is the
procedure a prospective buyer would go
through?
- Do you have or
can you recommend any English speaking lawyer?
- What are the
final completion costs for transferring a
property?
- What taxes are
payable?
- What is the
procedure if the owner decides to sell, both before and after
completion?
- Is it possible
for the client to re-sell the apartment?
- What are the
costs involved when someone decides to sell property, fees etc.?
How much does the legal process cost?
- What about
insurance on the properties?
Company & complexes
Our
company is an investor, not a property agent. We own the plots and
the buildings on the plots and we sell only our own
apartments.
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No,
we do not have any mortgages or other loans associated with the
developments, neither have we injunction or property rights by third
parties. This is described in the Sales Agreement.
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The
Apollonia-beach complex will be completed till May,
2006.
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The
complex is luxuriously fitted with:
- Aluminum -
thermostat
- Latex painted
walls
- Terracotta
flooring
- Boiler heater
- Bathroom with
luxury sanitary equipment
- Private swimming
pool with children’s section
- Lift
- Cafe-restaurant
- Parking lot
- Fences all around
the plot
- 24 hrs security
and maintenance, private access
- Green areas with
children’s playground
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The
apartments will be with terracotta floors; walls and ceilings
puttied and latex painted.
The bathrooms are equipped with
boiler, sink, shower and mirror.
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Every
apartment is supplied with cable TV.
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Financial stuff
Yes
- we offer the following installment payment schedule:
- 1000 (thousand) Euro- reservation fee
- The Buyer should send the first payment, which is 30% (thirty percent) as a deposit, at signing a contract between the buyer and the seller;
- 60% (sixty percent) is due to be paid in six months;
- The remaining part of the agreed price, which is 10% (ten percent) of the total price, should be paid at the issue of the notary deed for transferring the real estate property.
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Deposits
do not have bank guarantees. In case of non fulfillment defaults are
due and they are stated in our contract.
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It
depends on many conditions: the price per square meter,
the type of the apartment, the floor, the village, the number
of the apartments that the client buys, the payment schedule,
etc. The price in such cases will be discussed individually
for every separate client.
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Yes,
we have financial agreement with Bank of Piraeus - London Branch, for
crediting flats.
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The
annual maintenance fee is up to 8 EUR per sq.m.
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This
charge is for general maintenance of the common parts - swimming
pool, stairs, lifts as well as 24 hour security guard.
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Yes,
that’s why there is an annual maintenance fee of about 8 EUR per sq.
m.
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The
owner of the apartment should pay the bills for electricity and
water consumed, yet he/she can empower somebody to pay them for
him.
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Rental opportunities
For "Apollonia-beach" vacation complex we signed contracts with several tour-operators for the year 2006.
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We
do not receive a commission fee for letting the properties. From the
rental income we intend to take a minimum percentage which has to
cover the salaries for the staff, engaged to work at the vacation
complex.
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The
rent is not guaranteed but expected. In Our opinion the rent will
vary about 6% from the total amount of the particular
apartment.
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Laws & contracts
We
book an apartment after having received a deposit of minimum 1000
EUR. We have to be opportunely informed about the chosen apartment
in order to prevent double booking.
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Non–residents
can have properties in their own name, yet they can not own land in
Bulgaria up to now. The law, concerning this matter is discussed
lately and is going to be changed. At the moment the only way for
non-residents to own land is to register a limited company in
Bulgaria.
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The
building guaranties are according to the actual law, the Bulgarian
standards, as well as the anti-seismic ones.
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After
booking the apartment (minimum deposit for booking is 1000 Euro) we
send the buyer 2 copies of the agreement which must be signed by the
buyer and both sent back to us. Our manager must sign both of the
copies on his side and one of them is being sent back to you.
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Yes
we have English speaking lawyers, working with us. They prepared the
contracts and translated them into English. For further information
please contact us by phone or by e–mail.
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The
final completion costs for a property are approximately 3 % of the
official price, written in the notary deed (this percentage is
calculated on a 50 000 euros property and on a lawyer’s fee equal to
the notary fee).
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Every
owner of property in Bulgaria pays an annual real estate tax, which
amount depends on the size of the property. No land tax is to be
paid.
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It
is impossible for the owner to sell the property before completion
because the notary deed is to be signed after that. After
signing the notary deed the owner is free to sell her/his
property.
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When
a client buys an apartment from us, and receives the notary deed, he
owns the apartment and the right to sell it from this time
on.
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The
legal process costs about 2 - 3 percent of the price, mentioned in
the notary deed. All the taxes and fees are according to the
Bulgarian legislation.
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All
the developments are built according to the regulations
of the actual Bulgarian law, the Bulgarian standards, as
well as the anti-seismic ones. Each buyer decides whether
to make insurance for forcemajeure events.
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FREQUENTLY ASKED QUESTIONS - FAQ
