What does buying off plan mean?The most popular investments are in new off plan developments.
Buyers are allowed to purchase the apartments before they have been completed (often the buildings are still only at the planning stage). This has many advantages:
- The buyer can pay in instalments up to the completion date
- The price is fixed but may well increase its value over the building period
- The buyer can have more choice over which property they want
- The developer will offer promotions such as cheaper prices, free furniture or free management charges in order to encourage early investment.
- Upon completion your apartment it is estimated that the value of the property should have increased.
Please note We advise that buying off plan does have some element of risk. This can be reduced by ensuring that the developer is reputable and has a track record of developments. The client should consider obtaining independent legal advice and employ the use of a translation service. We also advise that client's ensure the purchase is affordable.
Bulgaria is a 'new' country as far as the overseas property market is concerned and it will continue to evolve as it emerges into a full, free market and potential member of the European Union, of which it is scheduled to join in 2007. All our developments are fully researched and we can assist clients with all aspects of the buying process (please see our services) Buying apartments off-plan is very straightforward Bulgarian Hot Property advises its clients to consider useing the services of a Bulgarian solicitor before purchasing property in Bulgaria. The solicitor will collect all the relevant information regarding searches to Title and prepares the Contract of Sale. A 'Clearance of debt Certificate' is needed before a property is sold in Bulgaria. A government appointed lawyer (termed a notary) will formally agree the sale around a month after the deposit is paid. Clients must be aware that all transactions are in Bulgarian as well as any legal documentation. Therefore, it is advisable that the full services of an interpretor and translator be undertaken (there are licenced interpretor and translators in Bulgaria who can undertake this work). Their name and registration number is recorded on your Title Deeds and Company Set up. Buyers who purchase off plan will pay a deposit of 1000 euros to secure an apartment The buyer can then choose to inspect the property (see inspection trips) Once the buyer decides to purchase he must pay the purchase price in several staggered repayments (see repayment schedule) When the Preliminary Contract has been signed, and the deposit paid, we will remove the price of your property from our web site and it will appear as 'Sold subject to contract' Guarantee
The developers are always thoroughly checked. All companies that Bulgarian Hot Property work with are members of the Bulgarian Chamber of Construction which regulate their business and are medium to large with a good track record of providing quality products that are delivered in realistic timescales. | 
