In this article, we will break down all the associated costs so that you are not surprised at the notary or at the bank.
1. Taxes and fees to the Municipality of Bansko
This is the largest item among the additional costs. Every transfer transaction incurs local taxes, which are calculated on the higher of the market price and the tax assessment.
- Local tax: For Municipality Bansko it amounts to 3% of the transaction value.
- Notary fee: It is calculated on a progressive scale according to the Tariff of Notary Fees.
- Entry fee: 0.1% of the value payable to the Registry Agency.
2. Specific mortgage loan costs
Bank financing carries with it administrative burdens that the buyer covers in full.
Market valuation of the property
Before approving the loan, the bank sends a licensed appraiser. The fee for this varies between 150 and 300 leva, depending on the size of the apartment.
Mortgage registration fees
In addition to the transfer fees, you also pay for the registration of the mortgage itself in favor of the bank. The notary fee for a mortgage is about 1/2 of the purchase and sale fee, but it is still a serious expense.
3. Bank fees for withdrawals and transfers
Although competition between banks is high, there are still operating costs:
- Fee for reviewing documents: Between 0 and 500 BGN depending on the bank.
- Money transfer fee: Real estate transactions must be done through a bank. Transferring a large sum to the seller can cost you between 50 and 200 leva, depending on the bank's rate.
4. Commission and legal services
In Bansko, the standard broker commission varies, but is often around 31% of the sales price. Some agencies work with fixed fees for cheaper properties.
5. Post-purchase costs (Batch transfer)
Once you become the proud owner, you have 7 days to transfer the electricity and water bills. If the property is in a complex, you may also have an administrative fee to the management company for entry in the condominium owners' book.
Sample calculation for a property of 60,000 EUR
| Type of expense | Approximate amount (EUR) |
|---|---|
| Local tax (3%) | 1,800 EUR |
| Notary fees and registration | ~800 – 1,000 EUR |
| Valuation and bank fees | ~250 EUR |
| Broker's commission (3%) | 1,800 EUR |
| TOTAL ADDITIONAL COSTS | ~4,850 EUR |
Do you want an accurate calculation for your property?
Our consultants will prepare a detailed estimate of all costs for you so that you can plan your investment in Bansko without surprises.
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