Introduction
- nowhere in Europe has received so much publicity in the last few years as the
the place to
buy
cheap property than Bulgaria. In
deed, you can visit countless websites and still view property that will cost
you only a few thousand Euros. Although there is a plethora of this type of
property about, the Bulgarian authorities have been to great lengths recently to
point out that Bulgaria is not all about cheap property. In fact some of the
homes & apartments coming on to the market in the resort areas are built to a
very high standard and it is this sector of the market that the Bulgarians wish
to grow. Situated in the Balkans, at the crossroads between Europe and Asia,
with some of the most spectacular maintain scenery in Europe, Bulgaria also
boasts the Black Sea coastline coupled with a warm temperate climate, Bulgaria
has a long and an interestingly colourful history, Until recently Bulgaria has
been a favoured holiday destination for Eastern Europeans and was little visited
by persons from Western Europe, it fact little was known of this country but
following its detachment from its Soviet ally, its has embraced western style
democracy and this has led to an almost unprecedented period of development.
Investment is pouring in from abroad and many prime property sites are under
going renovation and reconstruction.
Bulgarian Holiday Home Insurance - Until recently, sourcing Bulgarian holiday home
insurance for buildings and apartments was difficult, many people recognised the
need to fully insure a property but were worried about having to purchase an
insurance policy written in a foreign language, now it is fairly easy and a
policy written in English can be purchased from the United Kingdom. The policy
wording takes care of all the usual perils you would expect from your normal
home insurance policy including property owners liability cover. In line with
most other European countries, Bulgaria has been known in the past, to suffer
from flooding and torrential down pours are just as likely in summer as in
winter. Bulgaria does not normally suffer from earthquakes, in recent years
there have been minor tremors registering up to 4.2 on the Richter scale but
this is not seen as a major cause for concern and it is not anticipated there
will be any future quakes of any significance.
AssetSure are
able to offer insurance for an Bulgaria holiday home.
The Holiday Home Market in Bulgaria - as well as the Ski Resorts and the
coastal regions, there is plenty for the holiday visitor to enjoy, the country
has 9 UNESCO World Culture Heritage sites including many monasteries, churches
and mosques, often steeped in history. The local scenery is usually quite, rural
and picturesque, this can be juxtaposed to the city areas which are a haven for
nightlife lovers and many growing business. Ski homes in particular are in great
demand, The skiing is considered to be on a par with many of the considerably
more expensive European resorts and Bulgaria's famous resort Bansko has even
recently been attempting to obtain the winter Olympics. As well as Bansko, the
skiing is of a good quality in Borovets & Pamporova.
Why Buy a Holiday Home in Bulgaria? - buying a holiday home in Bulgaria is
reasonably straight forward although there are a few extra steps that have to be
carried out which at first may seem a little tricky or inconvenient, however the
process is likely to become easier now that t Bulgaria has joined the EU. For
the present moment a non-Bulgarian national is not permitted to own a piece of
land in Bulgaria. To purchase a property or land in Bulgaria you will need to
form a limited company that is allowed to own land and then make yourself the
company director. This is a very straightforward process through a solicitor and
many companies have emerged that can help you with this task and it should take
around month to complete the paperwork and cost about £750.00. One small
concessions which is proving a great sales aid to developers is that if you buy
an off-plan property or newly built apartment you will not have to do this, its
probably best to seek a professional opinion though before you purchase.
The Purchasing Process -Once you have found the property you require,
an offer can be made to the owner, in the case of off plan or apartments, the
sale price is pretty much the asking price and there is very little room to
manoeuvre. If the verbal offer made is acceptable, the second stage of the
process is called the preliminary contract. The Bulgarian custom at this time is
for the buyer to make a 10% deposit and this deposit is usually non refundable
unless of course the seller withdraws from the sale for a variety of reasons. As
you many other European countries, it is vitally important that you carry out a
thorough title search before you make any commitment. Bulgaria does have a bit
of chequered history when it comes to title ownership and it is essential that
you are sure about ownership details. Once your legal advisor is satisfied that
the title ownership is clear, the final sale can be completed and in Bulgaria,
this has to be carried out in a notary's office and the property ownership will
then to transferred to the Bulgarian Limited Company.
So if you are seeking holiday home insurance blugaria quote for a property in
popular cities
like Burgas, Sofija, Varna or Ruse, why not see if we can help? In
addition, Assetsure provide overseas property insurance and holiday home
insurance for other countries including Australia, Austria, Belgium,
Bulgaria, Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech Republic,
Denmark, Estonia, Finland, France, Germany, Greece, Egypt, Hungary,
Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta,
Monaco, Montenegro, Morocco, Netherlands, New Zealand, Norway, Poland,
Portugal, Romania, Slovakia, Slovenia, South Africa, Spain, Sweden,
Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom (UK) and
Venezuela.
Guide to Holiday Home Insurance Bulgaria