The Selling Process
With over 23 years combined experience in the international property scene and investors in property ourselves you can be assured that the team at Plus Property Bansko will be here to support and help you every step of the way.
We appreciate that it is always good to know how the selling process works here in Bansko and the main question we’re asked is ‘Are there any additional costs when selling?’
The associated costs/fees of selling a property in Bansko are as follows:
Ensure Municipality Tax is Paid Up to DateEnsure Maintenance Fee (if applicable) is Paid Up to DateEnsure Utility Bills are Paid Up to DateOur commission (which is included in Sale Price)Official documents the seller is required to provide (approx. 50 Eur)Lawyers Fees – if you need legal representation because you cannot come and sign over personally a Power of Authority will need to be arranged. (The cost of this will vary depending on your individual circumstances)
To help you understand the selling process we’ve laid out below the 3 main stages of selling a property here in Bansko.
Please have a read below and if you have any queries or questions just get in touch with us and we will be very happy to help you.
The 3 Key Stages of Selling a Property in Bansko
Stage 1 – Marketing Your Property For Sale
Register your property with the local Property AgentsIn Bansko there is no need (or benefit actually) to limiting yourself to one Property Agent. In fact I would recommend putting your property on with say 3 agents that you are happy to work with. Doing this will increase your coverage with international and local prospective buyers. We would ask for a copy of your Title Deeds and a set of keys for ease of viewings.Agree a Sales PriceOnce a sales price has been established I would also strongly suggest that you agree the same price and commission level with all the agents listing your property for professionalism and fairness and also to avoid any confusion with potential buyers.
Stage 2 – Once A Buyer Has Been Found
Reservation Deposit and Reservation AgreementOnce an offer has been made and a price has been agreed, the buyer then places a Reservation Deposit (usually with us the agent) and a Reservation Agreement is signed. This is when you need to advise any and all other agents that your property is reserved and so they need to take it off the market and not show it to any more potential buyers.Appoint a lawyerAs the seller it is your obligation to provide the necessary legal documentation required. This is where we are happy to apply for these for you however if you cannot come and sign personally you will need a Power of Authority to be arranged by a lawyer. We know independent local lawyers and will be happy to pass on contact details to you so you can choose one.Agree a date for NotaryThis is usually around 4-6 weeks from the signing of the Reservation Agreement and is a mutually convenient date for you and the buyer. On average it takes 3-4 weeks for your lawyer to have all the necessary legally required documentation prepared including a POA if needed.Decide whether you are coming to sign yourself or whether you want to give a lawyer a Power of AttorneyIf you are coming back to sign yourself then the Notary Date can be agreed and flights booked. However if it will be difficult for you to return and sign then you can give a lawyer a Power of Attorney to sign on your behalf. This is relatively quick if it is done while you are still in Bulgaria however it can also be done if you are not in Bulgaria. It just takes a little longer and costs a bit more as documents need to be notarized, apostiled and sent by courier.
Stage 3 – Completing the Sale
Signing of Title Deeds at NotaryThis is the date when you (or your lawyer on your behalf) signs and completes the sale at the Notary. This is when you sign over ownership of the property to the buyer.Receive The Final PaymentAt the time of signing the final payment is also made by the buyer to your nominated account. The Title Deeds and registration are transferred to the buyer’s name and they take responsibility of the property. That’s it!
Congratulations! You’ve sold your property in Bansko!