Kandahar Luxury Apartments Bansko

Terms & Conditions

Purchasing Process in Bulgaria

Buying property in Bulgaria is different to purchasing in the UK . When buying an apartment "off plans" the preliminary contract is signed by all parties involved and this is an obligation for the developer to build and the client to purchase.

The preliminary contract will illustrate the timescales, prices and undertakings and will be produced by a Bulgarian Solicitor. The contracts are checked by Balkan Homes and the client will also have an opportunity to seek legal advice prior to signing.

The main difference between purchasing in the UK and Bulgaria is upon completion. In Bulgaria a third party who acts on behalf of the government, known as a Notary is responsible to ensure that the correct details are entered into the property deeds.

The client, or a legal appointed representative and a representative of the developer will then sit with the Notary who will is sue the deeds once they are sure that all the details are correct.

Property Ownership

Only Bulgarian entitles (or a Bulgarian Company) can purchase land in Bulgaria, therefore if you buy a land or villa with garden a company must be formed.

When purchasing an apartment the law is different as you are buying part of a building and therefore there is no need to create a company. The building is freehold and there is no lease, therefore the apartment will remain the ownership of the individual forever until he/she chooses to sell.

Seeking Legal Advice

Bulgarian law is very complex when buying property and it is recommended that all clients seek an experienced solicitor in Bulgarian law.

Prior to completion and the transfer of title deeds, the solicitor will conduct checks on legal title, licences and permissions and debts on title to ensure that everything is in order before the contracts are exchanged.

The client's solicitor will then usually act as a representative before the Notary Public to sign the documents required for the transfer of ownership.

Reserving a Property

Balkan Homes will accept provisional reservations by telephone which will be held for 1 week by which time A Reservation Agreement Form and a deposit of around 1,000-2000 euros is required.

The deposit is refundable should there be any cancellation made on behalf of the developer, however are non refundable should the investor be responsible for the cancellation.

Once reserved a confirmation of the way of payment plan will be sent, illustrating the payment stages required, along with a preliminary contract to sign and return within 14 days.

Exchange / Preliminary Contracts

The Notary will then conduct checks on legal title, licences and permissions, and debts on title to ensure that everything is in order before the final legal contract is exchanged.

Your legally appointed representative (usually a Bulgarian solicitor) will need to then appear before the Notary Public on a mutually agreed date to sign the documents required for transferring ownership.

The title deed will then be transferred to the client in accordance with Bulgarian Law by the Notary public who is registered to perform these duties under Bulgarian Law.

This will be written in Bulgarian and a certified translation will be included.

Additional Fees / Services

Notary fees / Local taxes

There will be an approximate charge of 2.8% for Notary fees and local taxes.

There will be an approximate charge for a certified translation for around 50-100 leave.

Maintenance Charges

There will be an annual maintenance charges applicable to all owners of Kandahar Bansko of 12 euros per square metre which includes:

The cleaning of all public areas including corridors and basement car parking

• Maintenance of the building and outside public areas.
• 24 hour security.
• Payroll of staff.
• Electricity, water systems and roofing.
• Waste removal.
• Building insurance.

NB : They exclude private utility usage, apartment insurance, local taxes and rental management fees

Clients are responsible for the rental and management of their own apartments/property.

Property Charges

Balkan Homes will also be able to offer owners of kandahar bansko a private property management/maintenance programme.

Key benefits include:

• Assistance in the management and rental of apartments throughout the winter and summer, helping to gain return of investment. If rented by Balkan-Homes 20% of the rental value will be deducted.
• Carrying out any major repairs and re-decoration.
• The handling of all rental contracts/payments and bookings.
• Maintenance of all public areas as illustrated above.
• Full inventory inspections of apartment on guest's departure.
• Weekly cleaning of apartment upon departure.
• Local contact/office, with English speaking staff to answer any queries and requests from guests during their stay.
• Additional services such as private transfers/ski school/linen, daily cleaning etc.
• Payment of utility bills, local taxes etc.

Further Information

For further details regarding our property management programme please email info@kandaharbansko.com