Selling to a mortgage buyer in Bulgaria: plan the payment
Buyer approval, property valuation and release of funds are separate steps. The agreement needs to connect them to the seller’s deadlines.
Read article →A notary's special account needs clear written release and refund conditions. Coordinate registration documents, bank finance and failed completion.
Parties to a Bulgarian property transaction may arrange payment through a notary's special bank account. The law provides for a written agreement governing how funds are deposited and paid out. Transferring money into that account does not, by itself, determine when the seller receives it.
'After successful completion' is ambiguous. Signing, registration and evidence of an agreed encumbrance position are different events. Identify the required documents and who supplies them. The notary should be able to verify the condition without deciding a later dispute about property quality or contractual fault.
Address registration refusal, delayed bank funds, disagreement over a condition and an abandoned transaction. Specify contractual deadlines and the process for repayment or continued holding of funds. Do not assume the notary will simply choose which party is right.
Before transferring money, confirm bank details through a separate reliable channel. If mortgage finance is involved, agree the mechanism with the lender in advance: it may not accept every proposed sequence.
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This article is for general information only. It does not constitute or replace individual legal advice.