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THE SEARCHING PROCESS

Once the property is reserved in your name with a preliminary sales contract, we usually have between 10 and 15 days to gather information on the property regarding land register and legal issues. This is necessary in order to verify whether the title deeds for the property are satisfactory, and whether the person selling the property is authorised to transfer their ownership. We also carry out an exhaustive check in order to guarantee that the property is also free from any pending charges, mortgages or debts. If there are any pending charges on the property, we will take the appropriate measures to ensure it is completely settled before the legal ownership of the property is transferred to the buyer.

If you are buying a plot of land, a survey of the land can be carried out, in order to obtain its exact measurements and to identify its borders. This study will include details on whether the land has been classed as buildable, on its access points and on its surface. Likewise, it will provide information on the different building possibilities and on the buildable area, including a detailed plan that will form part of your final title deed.

If you are buying the property and the land, it would be necessary to set up a limited liability company LLC (with the suffix OOD in Bulgaria). This is not necessary in case of buying only properties, apartments or “off plan” properties without land.

In case of setting up the LLC (OOD), we would take care of the whole process and other requirements related to the registration. We would, also, carry out a survey of the land , informing on whether the land has been classified as regulated and including a detailed plan that will be part of your final title deed.

If we are dealing with properties in a building phase, we will ensure that the developer meets all appropriate legal requirements: building licence (with a detailed check made in the architectural department of the adequate municipality) and land survey (making sure that the work is taking place on regulated land).

Should our checks unveil any legal obstacles which affect the buying process, our firm will advise you in writing not to continue with the process, and will ensure that the initial deposit yo u paid is returned in full by the selling party.

In any case, and as part of our process, we will run checks on the reputation and solvency of the builders/developers, obtaining references that the property will be built and handed over in the terms and conditions established.

 [Exchange of contracts] [Completion] [Power of attorney] [Formalities] [Taxes]


For further advise visit http://www.manzanares-es.com/