Useful

You have decided to buy a property. Set an upper limit to the price that you can pay to avoid confusion in your offers, which will cost you a lot of nerves and waste of time.

Before you buy a real estate you need to make sure that it has the same technical features as it is offered. Often, the seller advertises his property in the most glamorous light, and later it turns out that this is not true.

There are cases when the property is in the regulation of the settlement, but the detailed development plan (the regulatory) affects all or part of it. For example, there is going to be a street, or there are building restrictions due to the presence of energy portable networks. Sometimes such a property is placed on the market for sale at a very low price to “catch” the Buyer and the Seller faster to get rid of it.

In the small settlements there are cases where the boundaries of the properties, the building up of them and the communications do not comply with the predictions of the detailed development plan. For this, it is necessary, as a prospective buyer, to visit the technical office of the municipality or town hall in the location of the property and to be interested in its status. You may also learn some additional details. You may find that the property has “outstanding bills” (this is also written in the deed) and you have to pay a portion of it. Do not make a deal before the Seller arranges this. Otherwise, you will lose money and time. It may be that the property has a lifetime right of use for which the seller has “missed” to notify you, and you have forgotten to read the property document where it is reflected. And you are buying a home where you can not really get into possession.

Problems related to restitution also pose dangers. The transaction is invalid when a municipal property is sold to an individual but not through the chairman but through his deputy who is not authorized to sign such contracts. In the end, it appears that the property bought by an illegitimate owner is not owned by the Buyer even though he has been counting money for him.

Do not forget to ask for the original receipts for taxes, electricity, water, heating, telephone, etc., so as not to get rid of the additional costs accrued by the Owner or his tenants.

If there are Tenants, read the Lease Agreement and note how long it is concluded and certified with a Notary to account for how long you can get rid of them.

If the property owners are more, ask to authorize one with whom to negotiate. The practice is full of examples when one of the co-owners, at some point in the preparation of the deal, and sometimes in front of the Notary, changes its pre-specified opinion.

So – you have studied the property carefully, you have looked at it, and not once, and it is necessary during the day to see the details. Positive countries have conquered you, with the shortcomings you would have made and they are not fatal to your future life. But before you take a purchase step, you need to make sure that you negotiate with the owner of the property. Ask for his / her ID card, property title and compare the data. Make a basic, legal check of the documents. If you can not cope with this non-lethal task, seek help from an intermediary agency or a trustee (lawyer).

The next step is to check whether this property is not burdened with weights (foreclosures, mortgages, claims, litigation, loans, financial obligations, property claims from third parties, etc.)

Verification can be done by verbal reference at the District Registry Office at the location of the property. However, this check is not a sufficient guarantee. It is advisable to request from the Registry Office a certificate of presence or lack of real burdens. The advantage is that you have an official document from which you can get rights. This way, you will find something else – whether the property actually exists (not sold to another person). In practice there are few examples of frauds of a different nature when buying a property.

The buyer may have been honored under the Preliminary Contract and all conditions for the conclusion of the deed are available. But the seller does not perform his duties.     

Therefore, the law entitles the Buyer to seek legal remedies. He must bring an action (Article 19 § 3 of the Obligations and Contracts Act) for the announcement of the Preliminary Final Contract. The claim must be filed with the relevant registry office where the property is located (Article 11 (b) of the Rules for Entries and Article 114 (b) of the Copyright Act). Thus, the Buyer is protected so that someone else can not acquire real rights over the same property or impose a foreclosure. If this happens after the entry, it will not affect it.

The court decides to declare the Preliminary Contract final. When the decision enters into force, it will have the same effect as the notarial deed (Article 4 (h) of the Listing Rules) and the Buyer is already the owner of the property. For this to happen, the Preliminary Contract must be concluded in writing (Article 19 (1) of the CPA).

It is good to know that the law allows under the Preliminary Contract the buyer to acquire possession of a property. He will then have the right to benefit from it and receive the extraction from it (Article 70, paragraph 3 of the Act), to claim the expenses he has made for the preservation of the property, to receive compensation for the improvements he has made , For the amount it has invested. The buyer has the right to retain the property until the costs are paid.

In the Preliminary Contract, describe the condition of the dwelling found during the last inspection. There are cases when, after the transaction and the acquisition of the property, the Buyer finds that the previous owner has lost his soul, removed the bathtub, the batteries, the electrical board, the kitchen cabinets, etc. A good broker makes an inventory and saves his client anger, bitterness, and a little extra money.

WELL TO KNOW

Some of the transactions are realized through authorized persons. This poses certain risks to the Buyer. The authenticity of the power of attorney must be checked by checking in the Notary and, if possible, personal contact with the Seller.

All the texts are from the 100 issue “100 questions for real estate”, supplemented by the book “200 questions, 200 real estate replies”. Prof. Maria Gajova, Ph.D. Editor: Vasil Stoyanov; Consultants: Daniela Krasteva notary, Eng. Tsvetka Bostandjieva, Liliana Hristova; Publishing house – Plovdiv