Purchase expenses (Prices)
I. The announced prices of the real estate property
The announced price for each property is the price Partners Consult Limited negotiates with the owners of all properties.
In many cases the announced price is negotiable with the vendor depending on the specific terms of the deal.
It often happens that the announced price is not further commented on in harmony with the vendor’s desire, in which cases your Partners Consult Limited agent shall inform you of the situation in advance.
One way or the other, you can always comfortably rely on Partners Consult Limited professional agents for advice on what to do or expect. They will readily offer you additional properties with the specific characteristics you are looking for.
Do feel free to contact our brokers who manage the order for each real estate property.
The announced property price DOES NOT INCLUDE :
- the intremediary remuneration for the transaction (commission)
- the service fee (charged only for transactions with no commission from the buyer)
- the amounts due from the parties in the form of local tax, notarial fees and court fees for the inscription of the notarial deed.
II. Intermediary remuneration (commission)
The purchaser of a real estate property is obliged to pay a commission by virtue of a signed order contract with Partners Consult Limited, a company acting in its capacity of a professional estate agent in real estate property transactions.
The remuneration is due only in case the buyer purchases the desired property through Partners Consult Limited agency.
The buyer DOES NOT owe remuneration to the company if he purchases a real estate property on his own or through another agent.
The intermediary remuneration (commission) of Partners Consult Limited is :
- 2.5% of the arranged selling price of the property in case of granted exclusive agency
- 3% of the arranged selling price of the property in case of denied exclusive agency
The intermediary remuneration (commission) includes the following services :
- inspection of the property documents for encumbrances and past transfers of ownership ( includes the issuing of an official document by the Registry Agency);
- attorney’s fee for the preparation of the notarial deed and all other necessary documents (the client has the right to choose a lawyer to represent him );
- hiring a public notary (the client has the right to choose a notary public);
- advice on the current market situation and the prices for the specific market segments;
- initial consultation on the rules in realizing the transaction;
- consultation on the necessary documentation and legal requirements concerning the transaction;
- introducing the client with the best terms for obtaining a BANK LOAN (Partners Consult Limited works in close cooperation with leading residential accrediting banks).
- the commission is due upon closing the transaction;
- Partners Consult Limited does not claim preliminary payment of the commission or parts thereof;
- Partners Consult Limited organizes the purchase at its own expense and finances all actions and enterprises related to the search of the suitable real estate property;
- in unusual cases and commitments beyond the formal agency of the company, Partners Consult Limited charges a fee, approved by the manager.
Note : In cases of granted exclusive agency to Partners Consult Limited, the buyer undertakes for a definite period of time not to engage in activities related to the purchase of a real estate property without the mediation of Partners Consult Limited.
Granting exclusivity is a money, time and nerve-saving decision and avoids all inconveniences of having to deal with more brokers and several agencies.
In terms of company organization, sale exclusivity enables us to better direct the capacity of our agents and determines the contracting of a lower commission with the client.
When granting exclusive agency, we advise you to conduct a preliminary study of the company you intend to work with and make secure it has the potential to realize your deal. Therefore we recommend you to fix an appointment with our managers and agents and decide whether and whom you can trust. It does not bind you to the company in any way and is free if charge.
III. Local tax, notarial and court fees
We feel obliged to inform you of the usual practice for expenses (local tax and state fees) on real estate property purchases and sales in Bulgaria to be divided equally between the parties- seller and buyer. There are exceptions to the rule depending on the conditions and compromises negotiated between the parties.
Our role of consultants and agents is to offer you the most successful solutions through existing practice.
Local tax- 2.5%
Each real estate property deal, transfer or establishment or real right on immovable property on the territory of Bulgaria is liable to taxation (local tax) under the Law on Local Taxes and Charges.
For purchase and sales transactions the amount of the tax is 2.5% of the selling price for the property and is calculated (on the announced price according to the notary deed) by the notary public engaged for the transaction.
Notarial fee (collected on the basis of a tariff by the notary legalizing the transaction according to material interest- the price of the property in the notarial deed)
The notarial fee is collected in accordance with the NOTARIAL FEES tariff under the Notary Act. You can learn the exact amount of the fee provided that you have gathered all the required documents or have already negotiated the selling price of the property.
Feel free to contact our agent on this matter, he will provide you with a figure for the fee.
Registration fee- 0.01% (collected by the Registry Agency after the notarial attestation)
The registration fee is collected for each document with certified material interest, such as the notarial deed. According to the REGULATIONS ON ENTRIES, subject to entering are all acts for transferring the ownership (sale, grant, exchange etc.) or for establishing, transferring, changing or terminating other real right on the immovable property, as well as acts recognizing such rights (ascertaining notarial deeds, acts for state and municipal property etc.).
Acts, subject to entering, and entered are given publicity, thus becoming abominable for encumbrances and previous transactions for each separate property. Verification of the property status is an inalienable part of Partners Consult Limited obligations.
According to the Tariff of State Fees, collected by the Registry Agency (effective 25.11.2005 and published in issue 94/ 25.11.2005 of State gazette):
For the registration of acts and documents a fee is charged either on the price on which the document or act has been taxed or on the price of the claim in the amount of 0.1% but not less than 5.00 BGN.
You can save money, time and nerves if you turn to professionals in real estate ZonaCredit will serve you professionally.