Preparing contractsPer the provisions of the Bulgarian Law, the agreement in writing for valuable consideration between parties represents the visible proof of their intentions to perform a deal, respectively being bind by its terms and conditions. Respectively the signed agreement is the inception and the legal base for each party to requests performance of the obligations, undertaken by the other party. And the existence of every signed contract is the reason on which most objections for performance of the other party's obligations and most civil claim lays.
This is why on the field of our practice we, the Bulgarian solicitors - owners of the firm, have designed lots of contracts, especially the ones related to the property deals. They are capable to provide professional advice on the terms and conditions that should be implemented in a contract so to fit your interests best. Bearing that the signed contract will be the legal instrument to protect your investment and where possible, to give you supplementary protection, a contract has to consist from clauses that will benefit you but not the other party, and that will be used as having probative value, on a later stage if the obligatory relations between parties do not proceed in the initially expected path.
The usual contracts, met in the property market, that we cn draw up for you are:
- preliminary contract for property purchase (house, apartment or land) - also called "private purchase contract" and being the contract to be signed usually for "off-plan" purchses.
- preliminary contract for sale of real estate (house, apartment or land) - usually used for stage payments or where there are mortgage complications
- final contract for property purchase (Title Deed) - the legal contract to give you the ownership of a property in Bulgaria). Always been signed before local notary public.
- deed for stattory or obligatory mortgage - the contract that always has to be signed with banks when mortgage loan has been obtained;
- contract for performance of building and finishing works (basically the contract to be signed always when performing building or finishing works related to prospective construction or to reconstruction of property).
- contract for supervising and controlling the building procedures (to ensure that the builders will follow your requests, and as well the legislation and the quality of building works).
- contract for architectural design (related to designing the property to be build)
- contract for obtaining Permission for usage / Certificate for exploitation (called also Act 16)
- maintenance contract (the contract that has to be signed as a result of General Meeting and in relation to maintaining residential or holiday building).
- management (rental) contract (the one usually to be signed when you intend to make profit from your apartment and wish it to be rented out by rental company, or to sign it directly with the rentiers).
- brokerage contract (the one usually to be signed with property agency in relation to their fees)
- loan contract - to be signed per the Bulgarian legislation for each amount over 5000 levs.
- escrow agreement - represents complicated contract to protect both parties' interests with the legal participation of local bank.
- contracts, related to management of local companies and other corporate bodies; for sale of company shares or obligations;
- contracts, related to purchase or sale of goods (cars, electronics, factory goods, etc.); The fees for preparation of a contract could be offered at the amount of 150-200 Euro, depending of the specifics of the contract. Contact us for more details.