CHECKING FOR A CHEAP HOUSING IN BULGARIA ?!
STAGES OF CONSTRUCTION IN BULGARIA AND "pitfalls"" FOR FOREIGN CITIZENS.
ACT 14, ACT 15 and ACT 16.
The construction of any house goes through several stages. First, this is the development, coordination of the project and all related issues, then - the direct implementation of construction work. The successful implementation of each stage ends with the signing of a certain document. It will be about Act 14, Act 15, Act 16. All of them are designed to control individual stages of construction and are confirmation of the compliance of the structure being built with regulatory enactments that regulate compliance with fire, seismic safety, noise level, environmental standards.
NUANCES OF BUYING REAL ESTATE IN BULGARIA AT THE INITIAL STAGES OF CONSTRUCTION
You can buy an apartment in Bulgaria at any stage of construction. There are cases when an advance payment is made for an apartment even before the project is approved. This happens if the developer is well known and reliable. At the same time, you can choose the apartment you like at a fairly low price - on the right floor, with a beautiful view.
However, this scheme has a drawback. The buyer makes an advance payment, fixes the apartment for himself, but legally cannot register ownership of it. As a result, the developer can get a loan, mortgage, using the actually sold apartment as collateral. In case of default, the apartment will be transferred to the lender to pay off the developer's debt.
Another negative option is the developer's repeated sale of already purchased real estate.
Such situations are extremely rare, but in order to exclude the possibility of their occurrence, it is better to buy real estate after a deal with it can be drawn up with a notary.
ACT 14
The possibility of notarial registration of an apartment in Bulgaria appears after a residential building or a complex has received the so-called Act 14. This is a normative document indicating that the construction of a residential building has been completed, the building has reached the stage of rough construction. Act 14 is important in that by the time of its publication, the right to build the facility has been realized and it is possible to begin to realize the ownership right to its individual parts - apartments.
At this stage, the following is done:
• Completed foundation; Internal and external walls have been erected;
• Stairways completed;
• Roof and attic space made
ACT 15
After receiving the construction acceptance certificate, the developer starts preparing the building for operation. Work is being done on wiring electrical communications, pipes, installing an elevator, windows, doors, hydro and thermal insulation. The walls are plastered in apartments, the floor is poured. Common areas are being arranged - tiles are laid, walls are painted. ... It has water, light, and an elevator. All premises look beautiful, there is a well-kept courtyard.
Note that the house will not be put into operation. Act 15 is evidence of the readiness of a residential building for use. The document fixes the shortcomings that must be eliminated before the housing is commissioned.
People move in, start living in such complexes and houses, not suspecting that they have not yet been put into operation.
Risks that arise in this situation:
• Payment for electricity and water is made at higher commercial rates;
• The house has not been put into operation - perhaps there are construction flaws;
• Selling an apartment in a complex or residential building at the stage of Act 15 is not easy.
ACT 16
A full basis for living in a residential building is provided only by a certificate of its commissioning - Act 16, permission to use.
The commissioning certificate completes the construction and confirms the following:
• It is really possible to live in the constructed house;
• Construction was carried out on the basis of an approved construction project;
• The constructed structure corresponds to the project;
• No violation of property rights.
You can buy real estate in Bulgaria at any stage of construction in any condition. But I would like to draw your attention to those who are planning to buy or rent housing to move to Bulgaria. To obtain a D visa (for long-term residence), you need housing only with Act 16. For those who plan to receive a multiple-entry C (tourist) visa, any real estate is of course suitable.
And many more do not know about this or do not think that by purchasing an apartment or house in Bulgaria, according to the legislation of the Republic of Bulgaria, the land on which the real estate is located by foreign citizens cannot be acquired. This is especially true for the private sector, land is purchased either by Bulgarian citizens or by a Bulgarian company, where the director can be a foreign person.
Best regards, TRentMe team
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