After you have paid the reservation deposit, your Sales Executive will prepare two contracts for you: the Preliminary Agreement for purchasing the apartment and the Contract for the Maintenance and Management of the St. Ivan Rilski Hotel, SPA & Apartments complex.
Before you sign the contracts, we encourage you to do all the appropriate checks so that you are comfortable with all aspects of your purchase decision. To perform all of the legal research, you may or may not wish to hire a lawyer. Either way, it is helpful to have some understanding of the legal aspects of purchasing a property in Bulgaria.
Upon request, your Sales Executive can provide all necessary documents proving ownership, quality of construction, selling company details and status. For each payment you make, you receive an invoice stating the amount paid, the reason for paying, and the date of payment. Therefore, you should correctly fill in your payment orders before transferring your installments: your name, the villa and the apartment you pay for are a must.
Once you have carried out all of the legal research, it is time to sign the sales contract. It is up to you to decide whether to sign them while still in Bulgaria or to receive the contracts per express mail. If you decide to have your contracts sent by post, please do not forget to give your Sales Executive an exact mailing address, postal code and telephone number. After having received the contracts, you should return a copy signed by you to us. It is very important that both parties in the sales process have an original of the sales contract.
Along with signing, you are to transfer the due initial installment. Its amount depends on the payment plan you have selected – full or extended payment. The second option allows you to have an initial installment of 30 per cent. The remaining balance is paid in equal installments on a quarterly basis for one year, or by the end of 2012. It is important for you to know that the extended payment plan does not raise the cost of your apartment. Another important fact is that you may enjoy your apartment just after the payment of the initial installment, the furniture package, and the maintenance fee until the end of the year. The number of quarterly installments varies between 4 and 8, the amount being from EUR 5,000 to 10,000.
After we have received the sales contract and the maintenance contract signed by you together with the first installment transferred to our bank account (also specified in the sales contract for your convenience), the apartment will be officially labeled “Sold”.