Selling Bulgarian property involves a variety of bureaucratic procedures, which need to be followed in order for the vendor to legally complete the transfer of the ownership to any new buyer. The first step is to obtain (from the municipality) a 'tax estimated price document' along with the registered schematics of the property. By law, these two documents should be issued upon request within 14 days, however in reality it can take up to twice as long.  The cost of achieving these documents issued is marginal, the time it takes for someone to go to the various departments and make applications etc is normally the more expensive element.  In addition to the documents from the municipality, the buyer has to prepare two declarations: a declaration for their marital status and a declaration confirming that all government taxes are paid up to date. Although not compulsory, in order to process the transfer of ownership some notaries require certificate of encumbrances, confirming that the property is clear of any mortgages or any other liabilities that could render the transfer invalid. Provided that the vendor is local and deals with the obtaining of these documents themselves, the whole procedure can be completed within 30 days.

In the case of foreign vendors, typically they are not present at the time of exchange and either use a solicitor or their estate agency who should offer representation services. In either case, the procedure becomes notably more complicated as without the signatory being present the vendor must issue Power of Attorney (PoA) in the name of the third party, who then obtains all the above described documents on their behalf. The PoA as well as the two declarations have to be signed by the vendor physically present in front of a Bulgarian notary at a Bulgarian embassy, or alternatively signing is witnessed by a Notary Public (typically found at high street solicitors) and then sent for Apostille stamping at the Foreign Office (option for 97 countries in accordance with Hague Convention participation).

Once notarized or apostilled, the original documents must be delivered to Bulgaria, translated into Bulgarian and legalized by the Bulgarian Foreign Department.  This additional work involves the appointed third party, which naturally increases costs and adds to the timescale. Generally, the selling procedure involving a foreign vendor takes approximately 60 days, it costs between  400-600 EUR depending on the country of residence of the vendor.

The above is the most straightforward representation of the sales scenario, unfortunately it rarely happens in reality. For example, additional complications may occur when the property is mortgaged or when the buyer uses a mortgage to purchase. In these cases the lending banks carries out much more stringent investigations, which inevitably result in requests for further documentation, thus forcing the vendor to repeat the notary / apostille process and its costs. Additional complications may also arise if the vendor has changed their marital status since purchase, if a passport has recently be renewed or will expiry before the completion of that sale. The property itself must be clear of any legal disputes, properly registered with the municipality and the vendor must be appropriately registered for tax (Bulstat). As laws have changed with notable frequency, it is very common for a foreign owner (who has bought two to three years prior) not to know their new responsibilities regarding registration, as such further documentation is required in order to bring them fully into 'good standing' before the property can be exchanged.

Having dealt with countless transactions involving foreign vendors, it is our conclusion that the most sensible avenue for successful and smooth transfer involving the least involvement for any vendor is to use professional solicitor services. Some vendors wish to save on legal fees and appoint the agent to process the sale; if the sale is simple and straightforward then this can be the most efficient route, but this is seldom the case and it is impossible to judge before the sale procedure is underway, as such this often proves a false economy. This is especially true for the sale of apartments in complexes where the land is owned by the developer and when a buyer is purchasing via a mortgage from a bank, which can result in untold documents at the vendor's cost.  Vendors who sell property in Bulgaria do not appoint a solicitor have been known to either travel to the Bulgarian embassy more than once (time away from work as well as travel costs), or travel to Bulgaria (flights, transfers, time away from work) or use the expensive Apostille service (up to 120 euros / stamp + international delivery of documents). The end result is that opting not to use a solicitor can be more expensive, more stressful and more time consuming.