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Trade laws


Trade laws

Clearance sale
The notarial deed of transfer of ownership and a certificate of ownership of real property issued by a notary in the area to which the object is located. After the document is signed by seller and buyer and authentication of their signatures, the notary is a notarial act to the district court. The judge in inscribing amends the circumstances of the object in the state register of immovable property (this operation is performed in the Russian BTI). The mark of the writing is done in the notarial deed. Before the transaction is a notary certificate (extract) from the same register of non-encumbrance of the object, ie of its purity. The certificate reflects the presence or absence of the mortgage object, the right to use of the facility by third parties, a ban on the sale, open court cases, etc. It also confirms the identity of the object specific person - the seller. Also important document is the public valuation of the object, issued by the territorial tax service. The selling price of the object specified in the title deed can not be lower than this value. Based on the sales price, determined the fee on the transaction and notary fees. In total they make up about 4 %.

For registration of real estate the purchaser is a foreign individual must submit a passport, the purchase by a legal person - the constituent documents of the company.

There are various schemes of payment when buying property. The payment schedule is determined by the developer in each case and depends largely on the degree of readiness of the object. But basically the scheme is as follows:

  1. Redundancy: 1000 - 3600;
  2. The signing of the preliminary contract - it defines the timing and size of payments, about 30% upon signing the preliminary contract, 40% when the facility is ready for finishing and 30% at registration of the notary deed;
  3. Registration of a notarial deed, which in Bulgaria is a document of title to the property.

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