Welcome to RE/MAX FORMULA website! We are the Varna and North East Region Real Estate Experts. Whether you want to buy or sell a property, it is our pleasure to guide you through our database in the neighborhoods of Varna - The Sea Capital of Bulgaria and other prime locations in the marvelous towns and resorts of the Northern Black Sea Coast.
We have years of experience and Our Goal is to serve our clients. Our agents are ready and able to make a full-time commitment to you when it comes to buying or selling your home. RE/MAX FORMULA can and will do that.
RE/MAX FORMULA's office is currently located on 22, Voden Street, next to the main pedestrian street of Varna Knyaz Boris and the church St. Nikolai. From this centrally located office, we now have 10 professional agents serving all of Varna's popular neighborhoods and resort areas. Our agents work as a team to insure the maximum chances of realizing your hopes and expectations, whether for buying, selling or renting.
When you choose RE/MAX FORMULA to sell your home or help you purchase a new home, you'll experience a whole new level of service. We are a proud to be a member of the world’s largest family of real estate professionals – RE/MAX and combine the strength of their tried and tested methods with our own creativity and dedication.
When you look for the highest quality real estate service, look for RE/MAX FORMULA - "The Real Estate Leaders®".
How to Buy
CHOOSE A PROPERTY
You can select from our REMAX FORMULA regularly updated website properties that fit your specific requirements. If you need more information or have any questions, please, do not hesitate to contact us. Our REMAX FORMULA professional team will provide you with high quality and friendly service in all matters associated with the property. After you have made the decision to inspect certain properties we will organize viewing trips.
SIGN A PRELIMINARY CONTRACT
When you decide on a property REMAX FORMULA will facilitate the signing of a preliminary contract between the seller and yourself (or a person authorized by you) for the purposes of reserving the desired property. This is a necessary step so that the seller can prepare all the documents for the sale – the plot and the valuation by the tax authorities. It is recommended that you sign such a contract and pay 10% of the asking price of the estate in order that the property is removed from the market.
CHECKS ON TITLE DOCUMENTS, LICENSE AND PERMISSIONS, DEBTS ON TITLES, TERMS OF CONTRACT
REMAX FORMULA does full checks on the property (on ownership documents, licences and permissions, debts in title, securing proper title deed, terms of contract, etc.)
SETTING UP A BULGARIAN COMPANY
Bulgaria has one of the most liberal foreign investment laws in the region regarding Bulgaria real estate, as well as the foreign investors. According to the Bulgarian Constitution and legislation foreign persons and companies can invest in real estate in Bulgaria either personally or through a local legal entity. Generally speaking, foreigners as persons can acquire only buildings but not land. Only Bulgarian citizens and legal persons (including such with foreign owner) can obtain the ownership of Bulgarian land.
- As far as flats and limited ownership rights (the right of use, the right to build a house, etc.) don't include land, you can directly purchase them as a person.
- If you want to buy Bulgarian real estate with land, you must set up a company that will be the owner of the property. Setting up a company in Bulgaria is very easy. Preferably it's a limited liability company with only one proprietor. Bulgarian participation in the company is not required. You don't need to have permanent address or permission for permanent stay in the country. A mandatory condition is to present a bank receipt as evidence before the court. This bank receipt should be for amount of 5000 BGN company capital, which could be drawn up 7 days after registration of the company.
- You won't have any liabilities for registration and establishment of new working positions, etc.
FINAL CONTRACT
This is basically the last level of the sale process where the ownership of the property is transferred and the due balance of the purchase price paid to the owner. At this final stage, a Notary fee of 1% of the purchase price and Government Purchase Tax of 2% of the purchase price must be paid. All the details about the property – the type, size, location, borders, property valuation, the purchase price, names of the buyer and seller- will be noted in the Notary Deed. The Notary Deed recognizes your rights as the new owner of the property and is an official internationally recognized document. If you are unable to attend the Notary Deed in person, you should authorize your solicitor to sign on your behalf.
LEGAL ADVICE
When acquiring real estate property it is strongly recommended that you use legal advice. REMAX FORMULA can effectively protect your interests by offering to you the following legal services:
- Legal Status Inquiry /if you choose to purchase one of the properties that we offer as part of our service that will not be necessary/. Before signing the preliminary contract of purchase it is recommended that you carefully inquire into its legal status. The inquiry should establish who has ownership title to the property, what is the reputation of the owner from previous deals, if he is under any legal restrictions related to his property, if there are other owners, if the property has been mortgaged, if the building is in compliance with approved construction standards, if there are pendant lawsuits to dispute the property. The answers to all of the above questions will determine if the deal on the property you are about to enter will be secure before signing the preliminary contract.
- Preparing the preliminary contract. REMAX FORMULA undertakes to represent you and serve to the best of your interest in the preparation of the preliminary contract and we guarantee you a trouble-free acquisition of the property.
- Preparing the notary certified contract. REMAX FORMULA takes an active role in the preparation of this contract by ensuring that it will be certified by the Notary with due speed and efficiency.
- Granting power of representation. If you are not in a position to appear in person on the signing of a deal, you may grant REMAX FORMULA (or our/your legal advisor) power of representation. Normally power of representation could be granted in one or more of the following events:
- Signing of the notary certified contract.
- Opening a bank account in your name in Bulgaria.
- Paying installments towards the agreed selling price of the property from a bank account in your name (that you will need to open in advance).
- In all other events where your presence in person is required but not possible.
- Registering a company in your name. By setting up or joining a company incorporated under the Bulgarian legislation foreign persons can acquire full land ownership rights. In the described event the land will be acquired by the company.
- Legal accounting advice. If you have set up a joint company in your name, you need to be represented before the local tax and administrative authorities. REMAX FORMULA advises you to enter into an additional contract for legal accounting services with our consultancy.
- The fee REMAX FORMULA charges for any of the above services will depend on the type of the property you wish to acquire. For further information and answers to any queries you may have, please write to REMAX FORMULA email address and we will readily answer those for you.
PROPERTY MANAGEMENT
As part of its fully integrated-service model, REMAX FORMULA provides Property Management services. We will help you in the process of renovation, furnishing, cleaning and maintaining your property, regardless where in Bulgaria it is situated. As an extra REMAX FORMULA can pay the utility bills and taxes for your property on your behalf.
This service would be very useful for people using their property for holiday purposes, and also for property investors who plan on leasing their property.
For more information, please contact us