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International real estate investors in property in Bulgaria and indeed anyone purchasing property in the country who does not reside there, may not be able to be in the country at every stage of the legal purchase process, a process which can take up to a couple of months to complete. In these cases, it is possible to secure the services of a power of attorney in Bulgaria, which for most purchasers is both the practical and most cost-effective solution, reports House Sales Bulgaria (http://www.housesalesbulgaria.com/).

The purchase process of real estate in any country is, of course, a series of legal steps which involve the buyer signing various legal documentation, and real estate in Bulgaria is no different. Staying in Bulgaria for the entire purchase process until completion, around one or two months in many cases, is not normally possible for overseas buyers, while returning to the country whenever needed is costly and impractical. That’s why most purchases of property in Bulgaria from overseas buyers involve the buyer arranging for their legal representatives in the country to have full power of attorney in their absence.

Full power of attorney allows the buyer’s legal representative to sign initial contracts on their behalf, sign the final notary act on the property, pay the asking price, arrange for declaration of the Bulgarian property and, if necessary, register a Bulgarian limited company in their name to facilitate the purchase by a foreigner of a property with land. All of this can be done while the buyer is in their own country by arranging the legal power of attorney document in the Bulgarian embassy with the help of a local solicitor, or by signing a power of attorney document in Bulgaria (always insist on an English translation of the document so you are aware of what you are signing). Arranging for the power of attorney is cheap, quick and simple and can save the buyer not only the cost and hassle of continually revisiting the country, but also provide peace of mind that the purchase of their property in Bulgaria is legally water-tight and will be expedited in the fastest time possible.

For further information on the Bulgarian real estate market, whether you’re a buyer or you’re looking to sell property in Bulgaria, go to http://www.housesalesbulgaria.com/.