Research Carefully
When You Buy Property in Bulgaria

Choose an Estate Agent Wisely

When you buy property in Bulgaria, an estate agent will handle the vast majority of property sales, particularly if you are a foreign investor.

It's common, especially among the British and Irish, to use a UK estate agent that works in cooperation with a Bulgarian property agent or developer. Most, if not all, of the estate agents in Bulgaria have staff that speak English and other foreign languages, so speaking Bulgarian is not necessary when buying property.

The commission charged by Bulgarian estate agents is usually 5% of the purchase price. This is usually paid by the seller. However, the purchaser could be charged for viewing trips. This all depends on which estate agent you use when you buy property in Bulgaria.

Many employees working within the real estate business are self employed, they use their own personal vehicles/petrol, and only receive a very small percentage of the actual commission on a successful sale. Therefore, the viewing fees soften the blow when after days of viewing, the purchaser doesn't buy property in Bulgaria for whatever reason. Always check in advance on any fees you would be required to pay. On the more expensive properties, an agent's fee may be negotiable.

The key to investing in any foreign country is research, research, and more research.

It's a good idea before you leave home to decide where you want to live, what sort of property you want, and your budget before visiting Bulgaria. A shrewd Bulgarian estate agent can tell if you have not done your homework to buy property in Bulgaria, and since they may work for the seller, they could take you around properties that the natives wouldn't touch with a bargepole. Without proper research, you may be none the wiser.

• Obtain details and photographs of as many properties as possible in your chosen area, and make a list of those you wish to view. Bulgarian estate agents who advertise in foreign journals or who work closely with overseas agents usually supply colored photographs and a full description of many properties.

• Take advantage of viewing trips arranged by agents and developers. Most offer cheap or free accommodations and refund costs if you buy a property. Do not feel pressured into buying on a viewing trip. Note the good and bad features of each property, take photographs, and compare properties at your leisure.

• Plan to take your time when viewing properties. Most experts advise buyers to travel independently and shop around a number of agents. A long weekend isn't sufficient, unless you have previously selected both a location and type of property. Arrange to see a variety of properties so you can judge the price and quality merits of each before you buy property in Bulgaria. Taking photos and keeping notes on each property eliminates confusion.

• Take a rest from viewing properties before you feel overwhelmed. The more you instantly like a property, the more you should look for its drawbacks and faults. Once you have examined all the faults and drawbacks, if you still like it then it may be the house for you!

Most Bulgarian estate agents will offer an after sales service, which includes all the legal advice, insurance, arranging utilities (such as electricity and water), and can even advise on interior decorators. Many also offer a rental service for non-resident owners. Check their commission rate before making a commitment.

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