How to sell your Bulgarian properties

If you already have a Bulgarian property or are planning to invest into Bulgarian properties, it makes sense to be aware what will be the costs associated when selling your Bulgarian properties.

The major costs when selling your Bulgarian properties are:

1. Local tax – currently 2% of the purchase price. This is the alternative to the UK stamp duty. Similarly to the UK the Bulgarian local tax (stamp duty) is a subject to political speculations, however it is unlikely that this will be changed soon.

2. Council tax – 0.1% of the purchase price. This council tax has nothing to do with the council tax in the UK. It is alternative to the UK Land Registry and it is where the buyer will receive their deeds.

3. Notary fees. The notary fee is a favourite topic for discussion of the Bulgarian lawmakers in connection with the double valuation standards being the practice in Bulgaria at the moment. Each Bulgarian property when purchased/sold is valued by a tax valuation officer, however the tax office valuations are based on old price range schemes which are very conservative and reflect prices 20-30 years ago and are several times smaller than the current market values of Bulgarian properties.

For example a property in Bulgaria which is being sold for €100,000 will normally have a tax valuation of €10,000. The practice in Bulgaria is that it is up to the buyer and/or the seller, respectively what valuation figures to use.

Therefore, you can pay notary fees either based on the €100,000 agreed market price or on €10,000 tax valuation as per tax office valuation. Most likely this situation will change soon in view of Bulgaria’s EU accession.

The notary fee, regardless of which method of valuation of your Bulgarian properties you decide to use, is calculated on the following basis:

A. Properties in Bulgaria between BGL10,000 – BGL50,000 (€5,000 – €25,000): BGL118 (€60) + 0.5% of the amount above BGL10,000 (€5,000)

B. Bulgarian properties between BGL50,000 – BGL100,000 (€25,000 – €50,000): BGL318 (€170) + 0.2% of the amount above BGL50,000 (€25,000)

C. Properties for sale in Bulgaria that cost over BGL100,000 (€50,000): BGL418 (€209) + 0.1% of the amount above BGL100,000 (€50,000)

4. Other fees – there will always be some other costs like postage, translation of documents in English, etc. These should not be over €200.

5. Solicitor’s fees – as in the UK it is always better to have a solicitor who will be representing you in during the process of buying Bulgarian properties. Solicitor’s fees vary widely from €150 to €800. The solicitor we are working with has a fee of €400, which is, I guess, reasonable. The most important is that you are confident and trust your solicitor, since in most cases he/she will have to deal with the sale of your Bulgarian property in your absence.

If your have accepted a €55,000 offer for your Bulgarian property the taxes you will have to pay are: 1.€1,100; 2.€55; 3.€214. The property is in band C, therefore your notary fees will be €209 + 0.1% of €5,000 e.g. €5 (this is assuming you decide to go for the market value and not the tax valuation) 4.€150; 5.€300.

Total: €1,829.

As % of the total value the costs for selling your Bulgarian properties is under 4% which compared to other European holiday and property destinations is rather reasonable.

About Bulgarian Properties

Blog for cheap Bulgarian properties and houses for sale. Information how to buy property in Bulgaria and how to manage them. Free stories and tutorials.
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16 Responses to How to sell your Bulgarian properties

  1. DGOULD says:

    This is OK but what about the taxes to be paid both in Bulgaria and back home (UK)?

  2. Val Phillips says:

    Hi I have a property in Bulgaria already but this is a joint venture with friends. We are looking to sell it and buy another on our own. We put a deposit down on the flat in July 2007. The property was notarised in May 2006. if we sell now will we have to pay any capital gains tax in Bulgaria or here at home. We like the look of one of your properties . Thanks Val Phillips

  3. Mr Graham says:

    Hi, I want to sell my apartment B5 sunny dreams and want some advise

  4. Kristen says:

    Hi All,

    I have a large country house in Shumen BG and I’m looking to get rid of it for a bargain rate. Any idea where I can advertise/sell the house or is anyone interested??

    Pics here:
    http://www.bulgaria-travel-guide.com/rentahouseBulgaria.html

    Thanks,

    Kristen :)

  5. admin says:

    With few words: wait for another moment…

  6. Kristen says:

    What do you mean? That now is probably not the best time to sell?

  7. admin says:

    Yes, right now it is not a good time to sell a country house. Maybe after one or two years, but right now – no.

  8. Diana Tzonevska says:

    I have a very attractive factory building near Pomorie (highway to Bourgas ) which I want to sell , does anybody know a reputable company dealing with this kind of buildings?

  9. jane symonds says:

    i have a penthouse aprt that we would like to sell,1 bedroom, fully furnished ,approx,65m2 with a terrace of over 56m2

  10. Stefan says:

    Hi! If someone is interested in selling his property in Bulgaria, I can help! Contact me!

  11. Dragomir Pavlov says:

    Hello,
    My name is Mr.Pavlov I have lands for sell on the beach of the Black Sea/Bulgaria.Can You tell me if You’re interested to sell them?

  12. mr wheeler says:

    hi i have a apartment for sale in a small village just outside borovets , brand newfully furnished its about 45m2 and im looking for about £30,000 . anyone interested in buying or renting it ?

  13. Pamella says:

    If you are still looking to sell then I suggest contacting Inter Bulgarian Properties. #
    They will list free of charge.

  14. margaret says:

    i have 1 bed apartment in sunny beach fully furnished pool veiw looking 35 000 can anyone sell it for me

  15. Aleksandra says:

    Hello, my name is Aleksandra Bozova and i am representing the company Resale Properties Bulgaria. As one of the leading companies for estates’ resales we could offer you the best conditions to co-operate. You can contact us at resellbulgaria@gmail.com or visit our website and see our offers at http://www.propertyresalesbulgaria.com .

  16. Andy says:

    Hi, I’m looking to sell a nice but small studio apartment in Sv. Vlas, close to the marina. Can anyone recommend a good estate agent to post with? Best buyers to target?

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