| Information regarding cost of buying property | |
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Gimp Super user
Posts : 863 Join date : 2010-02-12
| Subject: Information regarding cost of buying property Sat Jan 22, 2011 2:49 pm | |
| I found this on another forum and it got me wondering how acurate this information is? I can't remember much about our transaction so does anyone know if this is upto date?
Information regarding cost of buying property
Real estate agent’s fees - vary Lawyer’s fees - vary Upon signing the deed the buyer is obliged to pay municipality tax in the range between 0.1-3% of the value of the property to be purchased under the Law on Local Taxes. This tax should be paid to the relevant Local Municipality. Upon signing the Notary deed the buyer is also obliged to pay Notary fee according to the Notary and the Notary Activity Act. The exact amount of the notary taxes is defined in Notary Fees Tariff as follows: Notary fees:
Interest under 100 BGN 101 - 1000 BGN 1001 - 10 000 BGN 10 001 - 50 000 BGN 50 001 - 100 000 BGN 100 001 - 500 000 BGN over 500 000 BGN Fees as follows: 30 BGN 30 + 1,5 % for the amount over 100 BGN 43,50 + 1,3 for the amount over 1000 BGN 160,50 + 0,8 for the amount over 10 000 BGN 480,50 + 0,5 for the amount over 50 000 BGN 730,50 + 0,2 for the amount over 100 000 BGN 1530,50 + 0,1 for the amount over 500 000 BGN, But less than 6000 BGN
The buyer is liable for the land registry fee of 0.1% of the price of the property under Rules on Registry and Tariff on the State fees, collected by the Registry Agency. All above stated fees could be divided between the seller and the buyer if it is stipulated in the Preliminary contract or in an appendix, which shall be non separated part of the preliminary contract. In relation to their ownership of property in Bulgaria, foreign nationals and foreign legal entities who acquire real estate in Bulgaria are obliged to register the transaction in the Registry Agency within seven days as of acquiring of the property under the Law on Bulstat Register . The application for registration is to be submitted at the Registry Office in the region where the real estate is located. In addition to that they need to register the property in the Local Municipality and the Local Tax office. |
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starlite Mega user
Posts : 1784 Join date : 2009-10-11
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mickhev Super user
Posts : 962 Join date : 2010-01-10
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 3:56 pm | |
| You can put what you like on your purchase price but be very careful,Bulgarians are now starting to get clever
Mike |
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starlite Mega user
Posts : 1784 Join date : 2009-10-11
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:00 pm | |
| it is also illegal to do this. |
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mickhev Super user
Posts : 962 Join date : 2010-01-10
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:05 pm | |
| Starlite its not ilegal to ask a price that you want
Mike |
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Guest Guest
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:13 pm | |
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mickhev Super user
Posts : 962 Join date : 2010-01-10
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:15 pm | |
| Thats not what i said
Mike |
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Guest Guest
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:19 pm | |
| - mickhev wrote:
- Thats not what i said
Mike Then I fail to understand what you are saying. |
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mickhev Super user
Posts : 962 Join date : 2010-01-10
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:26 pm | |
| Lets get it straight you can put what you like on the deeds,from this year you have to pay for your property with a bank transfer cash is no longer an option,so all the fiddles wil now come to an end
Mike |
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Guest Guest
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:31 pm | |
| - mickhev wrote:
- Lets get it straight you can put what you like on the deeds,from this year you have to pay for your property with a bank transfer cash is no longer an option,so all the fiddles wil now come to an end
Mike Don't see why - money can still be passed under the table in addition to any transfer. |
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mickhev Super user
Posts : 962 Join date : 2010-01-10
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:37 pm | |
| If thats how people run their business then thats up to them,but i kile to keep things legal,as i would assume you do
Mike |
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Guest Guest
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:40 pm | |
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mickhev Super user
Posts : 962 Join date : 2010-01-10
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 4:47 pm | |
| Yes Your totally right there will always be people that want to break the law,what we try to show people on this forum is that we are a positive group,and with our discussions they can evaluate some really good information,which is what a forum is all about
Mike |
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davshaz Super user
Posts : 1250 Join date : 2009-12-28
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 5:44 pm | |
| That is the loop hole and I'm sure it will go on like that for years and lets be honest I bet there are agents who do this to this is something that can not ever be stopped and from my point of view I don't see why it should? |
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Carmen Super user
Posts : 714 Join date : 2010-03-19
| Subject: Re: Information regarding cost of buying property Sat Jan 22, 2011 6:57 pm | |
| I think your right Dave its something thats part of the life in Bg and I can't see away of stopping it. I think we are all going off topic here and the original question which was do we think that the costs listed are right???? I don't know because things seem to be different from one municipality to another |
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