Article by: Miss Penka Atanasova info@moradabg.com Published: 27/10/2007

By Penka Atanasova

The latest European Union member Bulgaria is more than welcome for people, willing to have a second home in this country rich in history and famous with its nature. Developers are doing their best in matching modern quality with natural treasures, offering more and more extras in the competition for the buyers' attention. And people for all over the world focus on Bulgaria, which despite the immense foreign interest still keeps the lowest prices in Europe. No matter whether you are looking for your happy Bulgarian home or for your tempting investment opportunities, there are some useful tips in buying a property in Bulgaria.

1. Choose the area. Bulgaria's nature is varied - there are sandy sunny seaside areas, glamorous mountain developments and charming old towns where you could find a bargain Bulgarian home. Try to have as much information about the neighborhood as possible - ask about the location, the amenities available, transport lines, distances and the road condition. Ask about hospitals, restaurants, public transportation, etc. Most of the local cellular companies have covered most of the country's territory. If the property is in a resort - ask about the infrastructure and distances, if it is a rural house ask about the village, infrastructures, public services, and road condition.

2. After collecting the information about the area, take a close look at the offer. What you must know is that usually houses are for sale with the adjoining land (yard) and the land is included in the house's price. And if you were tempted by a charming new development, take a look at its size -

The total size of the apartment = The built up area (the area you will actually use) + The common parts of the building. It is a good idea to look at the apartment's sketch and see the room sizes, so that you will know actually how big they are and what furniture you could put in.

3. Ask about the completion date of the new developments. Also ask about the condition which they would be in - some of the new developments are sold without floorings and the walls are not painted, others are completely finished and others are completely finished and furnished. If the property is furnished - ask is the furniture included in the price or it should be extra paid.

4. If the development is new find more information about the developer - does he have any finished projects, how they look like, etc.

5. Make sure you have a professional take a look at the builder's licenses and permissions. The title deeds of the property should also be checked by professional - even if it is an off-plan property, misleading are also possible - so you need to have all the documentation checked before closing a deal.

6. Find more information about the payment plans - some developers have fixed payment plans and others offer flexible schemes, taking in mind the buyer's preferences. Some of the properties have lower prices when they are at initial phase of construction, so buying at this time could turn into a good investment.

7. Make sure you receive relevant in-voices for your money - don't pay without getting a relevant document for your payment and save all the documents.

8. When buying a land or plot for construction make sure you have a professional check up the municipality regulation plans for the area - sometimes you can have a very nice looking plot at a very attractive price and when you buy it planning to build a cozy house on it may turn out that this area is for parks only and building is forbidden - so you need to have everything checked up before you throw your money away.

9. Make sure you know all the costs of the deal before making it: besides the sale price of the property you will have to pay state and notary taxes for getting the property on your name and agent's commission (sometimes).

10. It is a good idea to have a preliminary sale contract when you pay a deposit for the property. This gives you a guarantee that the property will not be sold to another buyer until you have your payments arranged, the title deed check made and all the necessary documentation for the property on the table.

Article Link: http://www.property-partnership.com/overseas-property-guides/overseas-property-guide.cfm?id=85

Please contact the author at info@moradabg.com for more information.