Author Milen Hristov | March 14, 2023

If you’re interested in investing in real estate in Bulgaria, public auctions are a great option to consider. In this post, we’ll take a look at the process of public auctions for real estate in Bulgaria and what you need to know if you’re thinking about investing in this way.

First, it’s important to understand that public auctions for real estate in Bulgaria are typically conducted by the Bulgarian State Agency for Real Estate (SARE). These auctions are open to both individuals and legal entities, and offer a great opportunity to purchase properties at a discounted price.

To participate in a public auction, you’ll need to register with SARE and provide a deposit. The deposit amount varies depending on the property being auctioned, but is typically around 10% of the starting price. You’ll also need to provide identification documents and any other required paperwork.

Once you’ve registered, you can bid on the property at the auction. The highest bidder will win the property, and will be required to pay the full amount within a specified time frame. If you’re the winning bidder, it’s important to note that you’ll be responsible for any outstanding debts or taxes associated with the property.

Overall, public auctions can be a great way to invest in real estate in Bulgaria. They offer the opportunity to purchase properties at a lower price than you might find on the open market, and can be a great option for those looking to invest in properties for rental or resale purposes.