Prices, discounts and deferred payment
Price - this is the number one issue, that concerns every potential buyer, who wants to invest in a property in Bulgaria. Is the exposed on the web sites price-final, or it can be negotiated?
What about the payment plan? Is it fixed or it can be a are subject to discussion?
What the final price of the property will be, the discount that is made is always linked to the method of payment by the customer.
Common practice is to negotiate a good discount, when the price of the property is paid within short terms, after signing the preliminary contract – 2 -3 months. The payment plan in such a purchase ,can look like this - a deposit of 1000 Euros, first installment 50 % up to 1 month after signing the contract ,and the remaining 50 %-when the Title Deed is signed. The entire process takes no longer than 2-3 months and we call it – quick sale. A common practice is in such sales straight after the deposit , the full remaining amount to be paid and the customers receives the Title Deed within short time.
In the last 2 years, the majority of the builders often, offer individual payment plans with every customer. They are willing to negotiate 1,6 up to 2 years deferred payment of the property, without extra costs to the price – with first installment of 30-40 %.This applies, even when, the property is built , ready to live in –with Act 16. As well as an extra bonus, the customer receives keys and can furnish and live in the property after paying 50 % of the property price no matter, that the property not notary transferred yet.
In these cases, a discount is rarely given to the customer- if there is any, it is very symbolic.
The above written mostly applies to the so called holiday properties, on the coast.
Exceptions make the newly built properties in big cities like Bourgas and Varna, where the property market is dynamic enough – the search of properties is more than the offers and the majorities of the properties are sold at the stage of construction.
Another exception is if you invest in off – plan property .The payment plans and discounts there are fixed. This is determined by the fact that the prices, when buying off plan – are very low – builder has set a minimum profit, considering the fact that the buyers invest in a building that will be ready within 10-12 months. After every building permit – Act 14, 15, 16 – the price of the unsold properties in the new building is growing.
Often the builders offer 3 different methods of payment and correspondingly 3 different prices that are connected with the payment terms.
For more information , please contact our property advisors +359888276672+35955813121 , or email us on: