We are regularly asked about the terms of installment plans for buying real estate in Bulgaria, since we really have a lot of such properties in our database. We would like to try to answer the main ones.
1. For what period is the installment plan available?
— Installment plans can be very different. From 1 to 10 years with a down payment of 10% to 30%.
2. Probably, with an installment plan for 10 years, there will be exorbitant interest rates and a bunch of pitfalls?
— No. Usually, such installments are provided by proven developers who are interested in maintaining their reputation. The interest will be fixed. Depending on the installment plan period, it can be from 0% to 9.7% on the remainder. You can pay off the installment plan in advance and avoid them.
3. Why do some complexes have long installment plans, while others do not?
— Usually, it all depends on how large the developer is. If it is really a giant in the Bulgarian market, then it can afford to pay off projects gradually. Small companies or individuals cannot afford this, as they need to make a profit and reinvest.
4. How often and how should payments be made?
— Usually, this can all be discussed individually. Regarding payments, everything is also quite flexible, usually it is once every three months according to the contract.
5. What rights to the apartment will I receive after the first payment?
— Full. You can live, rent out the property and even resell it. You will have an installment agreement in your hands, which has full legal force.
6. Can I buy any property in installments?
— No, the market does not work like that. The best offers on the secondary market go under the hammer upon full payment and quite quickly. In this case, the entire amount must be on the card or in cash.
7. Do I need to be present at the transaction?
— With us, you can legally complete the transaction remotely.
Any other questions? We are always in touch:
+359879820848 Ivan (Viber/Telegram/Whatsapp)
+359875405311 Ksenia (Viber/Telegram/Whatsapp)