Selling a property as a foreign owner living abroad requires careful preparation, especially when the buyer and the seller are not knowing each other and/or acting through a real estate agent.

To ensure the safety of the transaction, we recommend that the notarial deed to be signed in person in Bulgaria and both the seller and the buyer to open a local bank account. In this way, immediately after the property transfer is made, the sellers can see the funds in their account, avoiding the risk of losing control over the money. When the seller`s account or the buyer `s account is in foreign bank, it may take several days for receiving the funds, while in the meantime the ownership is transferred to the buyer and he will already become the owner.

As attorneys, we can provide remote assistance to our clients even if the transaction takes place in another city, coordinating all involving parties – the notary, the bank, and the client. During the signing, we are available by phone to provide full support and to answer any questions. For foreign sellers, a translator is required, which further ensures that everything is clear and safe.

With our assistance, the process can be organized efficiently and without unnecessary stress, regardless of the client’s location.

In closed complexes the owners must have a key as to sell the property. Without a key, selling can be difficult due to restricted access.

This article was created by Valova&Angelova law firm.