Welcome to Our Services ...
Project Management
Morley Estates offers an unparalleled project management service for any property related project ranging from regulating land, renovating houses and apartments, to the construction of new buildings whether a single house or a whole complex.
We assist our customers from start to finish helping, advising and executing their plans in accordance with their wishes. The Morley Estates team have excellent language skills including fluency in English, Bulgarian, German, Russian, French and Spanish ensuring communication between our customers and contractors is not compromised. We deal with architects, builders, accountants and lawyers on your behalf, present the facts and options, allowing you to make informed decisions during your project. For renovation projects and construction work, our experience has shown the value of detailed and comprehensive building specifications agreed and signed by the assignor and assignee. We at Morley Estates truly care about your property and we welcome customers who have not purchased property through us to use our friendly and professional service. For more detailed information please call us or email us.
Free Advisory Service
If you know that you should be doing something more with your savings, excess equity in your home or spare cash, but don't know exactly what the options are and what is best for you, don't be afraid to ask us. There is a well known saying, "Better to ask a stupid question and look stupid than not ask and be stupid". We promise to take all the time necessary to answer your questions and make you feel comfortable about investing inBulgaria. If you would like to be called by an advisor whether you are interested in a rural house, plot of land, apartment or have an open mind and just want a sound investment, don't hesitate to contact us. We promise to call you anywhere in the world at a time which suits you.
We are not just another estate agent trying to push apartments in SunnyBeach. We listen to your requirements carefully and only suggest a property if we really believe it is right for you. Our popular "home consultation service" is evidence of our commitment and service to our customers. We understand that meeting someone face to face when purchasing a property reassures the buyer and hopefully builds a trusting relationship, we also know that our customers have very busy lives. As a result, our customers can benefit by requesting a home consultation and one of our seniour consultants will visit you at your convenience in the comfort of your home.*
*Customer pays travel cost, agreed and paid upfront so there are no surprises.
Letting and Management
If you have purchased a Bulgarian property and would like to receive some rental income, don't hesitate to contact us. Depending on where your property is located, Morley Estates or one of our letting and property management partners will ensure your property gets exposed to the rental market as fast as possible, allowing you to maximize your property's potential and boost your income. Should you need to furnish your property prior to letting, no problem, please see our section on furniture. For our letting and management services, call or email us with your property details and we will do the rest.
Furniture
Hand picking your furniture and house-hold accessories for your Bulgarian investment property or holiday home can be an extremely time consuming and frustrating exercise and we at Morley Estates strongly advise against it! We propose purchasing a furniture pack direct from our specialist supplier for a fixed price including fitting and delivery within 2 weeks of paying for the order. Whether you have a studio, 1 or 2 bedroom apartment or a house, we can supply you with everything you need. You will also benefit by knowing that your furniture pack will include all the necessary furniture and accessory items required by tour operators should you wish to let your property.
Resales
If you have purchased a Bulgarian property and now wish to sell, you can use the services of Morley Estates to market your property. Whether it be a rural house, city apartment or a plot of land, we don't discriminate as we cover all of Bulgaria and all property types, but we do ask you to be realistic about the price. We are happy to assist in valuing your property. We use a variety of channels to ensure your property gets the exposure it needs. We will advertise your property on our website, in our local offices and present the property to our customers currently seeking a similar property. We charge 5% commission to the seller and 3% to the buyer plus VAT. The seller can also choose to pay the buyers' commission to make the property purchase more attractive. Please contact us for a property registration form.
Armchair Investor
If you wish to take advantage of the property investment opportunities in Bulgaria, but simply don't have the time or inclination to visit the country, this service is for you. We have dozens of customers who have never set foot in Bulgaria but have invested wisely and remotely as a result of lengthy consultations with our partners. This style of investing does require a greater degree of trust which is built up over time. We listen carefully to our customers' requirements and treat their money as if it were our own. We believe it is our job to have an educated and informed opinion on the market at any time and advise our customers which property type and location best matches their investment objectives whether it be rental income, capital appreciation or both. We welcome investors who have a sum of money they need to put to work but don't have a fixed idea what or where to buy. The benefits of this service are that you don't have to disrupt your routine at home whilst tapping into our expertise and experience of the local market and expect an honest and well informed investment proposal. We even offer a "home consultation" service anywhere in England if you want to meet us face to face in the comfort of your home. See Free Advisory Service.
Renovation Projects
We at Morley Estates strongly believe in buying Bulgarian property in need of renovation or refurbishment because they simply offer value for your money and could be extremely good investments. One of the reasons some overseas property buyers opt for newly built apartments and houses is the fear of renovating a property remotely and fears about the trustworthiness, workmanship and ethics of the building company. We understand and sympathise with our customers and have come up with a solution in order for you to benefit from buying some of the bargain properties has to offer and transform them into beautiful country homes or city apartments yielding attractive rental returns. We have taken the guess work and uncertainty out of renovating your Bulgarian rural house by offering two fixed price renovation packages - standard and luxury. Through our experience and knowledge of local labour market and material costs, we have calculated a fixed price per m2 to renovate your property. The standard package costs 225 euros per m2 and the luxury costs 300 euros per m2. If you purchase a 70m2 property, the price for a full renovation will cost as little as 15,750 Euros or 11,500 pounds (70m2 x 225 Euros = 15,750 Euros). A full renovation involves new roof tiles and replacing of any rotten timber, the fitting of inside bathroom and kitchen, new flooring, PVC windows, plastering and painting inside and out, new electrical system and lighting etc...
This fixed cost renovation service benefits you in a number of ways:-
- Peace of mind and greater financial control by taking the guess work out of the renovation cost for your chosen property.
- Security with the knowledge that you have a signed contract between you and Morley Estates making us fully responsible to renovate the property to the specification as outlined in the contract
- Allows the customer to make significant financial gains by accessing another segment of the Bulgarian property market previously out of reach.
The luxury renovation package includes better quality tiles, laminate flooring, bathroom fixtures and fittings, kitchen appliances and a garden package including patio/terrace and pergola.
Our renovation packages are subject to structural surveys payable in advance by the customer for a flat fee of 350 Euros. Naturally, Morley Estates, as part of its service, provides individual written quotes for renovation works on houses and apartments anywhere in Bulgaria according to your specific requirements.
For a full information pack on our comprehensive renovation services, please contact us by phone or email.
Legal and Accounting Services
Morley Estates offers a full spectrum of legal and accounting services allowing you to discuss any aspect of Bulgarian law or accounting conventions with one of our partner-consultants.Our services range from recommending independent bilingual solicitors, executing deals on your behalf, filling annual reports, opening a bank account, company formations and registering your company for VAT.
Our "one-stop-shop" approach ensures that you are not frustratingly passed to different company departments and that we fully understand your individual case. It also allows us to build a trusting relationship with our customers, who in turn gain more confidence, putting to work money in the many exciting investment opportunities the Bulgarian property market has to offer.
Company Formations
Currently, foreigners cannot purchase Bulgarian property with full ownership rights to the land. This is set to change since joining the EU 2007, but could take as long as 2014 for the legislation to change. In the meantime, foreigners must form a Bulgarian company in which to purchase the property. In this way, the property is not owned by a foreign individual but rather a Bulgarian entity. This should not concern or deter any overseas buyer. You need to form a company when purchasing any of the following property types in Bulgaria:
- Plot of Land
- House with its own plot of land
- Apartment if sold with ideal parts of the land
You do not need to form a company if you are just purchasing an apartment (ie without ideal parts of the land). Many developers have made the buying process easier for foreigners by not offering ideal parts of the plot the apartment block is built on. This is very common in the resorts where there is a lot of foreign interest.
Morley Estates offers a comprehensive company formation service ensuring your company is formed within 2 weeks of receiving all the necessary documents signed by the customer. You do not have to visit Bulgaria to form a Bulgarian Company. The process is simple and fast.
- Customer scans and emails their passport details to Morley Estates together with postal address and a preferred company name.
- Morley Estates prepares all the relevant documents for the company formation and emails them back to the customer.
- The customer must make an appointment at their most convenient Bulgarian Embassy or Bulgarian Notary in order to get all the documents signed and notarised.*
- Customer sends hardcopy of the documents to our Head Office in Sofia Bulgaria, and within 2 weeks, the company will be formed.
Our all-inclusive, fixed company formation fee of 625 Euros includes all Government taxes and translation of your Company Formation Certificate, Bulstat Document and newly formed Leva and Euro bank account details at First Investment Bank.
* This cost is not included in the 625 Euro set-up fee and could cost upto 150 Leva at a Bulgarian Notary and upto 120 Euros at a Bulgarian Embassy. Please contact us for more information.
Foreign Exchange
If you are buying a property overseas, whether as an investment, holiday or retirement home, or to live permanently, it is likely that you will have to pay for your property in a foreign currency. Given the sums of money involved in a property transaction and the associated additional costs, you will no doubt want to save money wherever possible.
You will also want to ensure that the price that you have to pay for your property does not increase due to an adverse exchange rate movement. Morley Estates will put you in direct contact with our foreign exchange partner who will offer you the following benefits for all your currency transactions:
- The most competitive exchange rates available, saving you money
- Fixed exchange rates for settlement in the future, protecting you from adverse currency movements and allowing you to lock in to favourable exchange rates. Ideal for off-plan purchases with payment schedules
- Fast and seamless international money transfers
- Friendly, expert staff to guide you
- No commission charges
- Peace of mind in dealing with a company that has been trading foreign currency since 1979, has been certified to ISO 9000 Quality Assurance since 1996 and last year transacted over £7.5 billion on behalf of its clients
Contact Morley Estates if you wish to use this money saving service at no extra charge.
Mortgages
If you are looking to finance your Bulgarian property with a mortgage, Morley Estates will put you in direct contact with their Bulgarian Mortgage Specialist. You will receive the best advice possible without complicated jargon.
Generally, interest rates vary from 6.5% to 8.5% and banks are willing to lend 70% to 80% LTV (Loan to Value). Simply put, if your Bulgarian property is valued at 100,000 Euros, you will be able to borrow up to 80,000 Euros.
Please take note that with off-plan properties, banks will only lend when the building has completed the roof stage, technically known as Act 14. This is especially important when planning the financing of the property. This brief example clarifies the situation:
A mortgage lender offers 70% LTV on a 100,000 Euro property i.e. the bank is willing to lend 70,000 Euros on the property.The customer has 30,000 Euros in cash. The off-plan property the customer wishes to buy is currently at the foundation level and the developer demands a 50% down payment upon signing the preliminary contract.
The customer will not be able to purchase this property as they will be 15,000 Euros short as the bank is only willing to lend when the roof is complete. The customer will have to look for another property with an accommodating payment plan, or negotiate with the developer for a different payment plan.
In any case, do not hesitate to contact us regarding your financing needs, as we will do everything we can to ensure we find a sensible solution.
Property Finding Service
As more and more foreigners purchase property in Bulgaria, some customers only want to buy in very specific locations as a result of friends or family already having bought there. Finding a property via the world wide web in one particular village, is extremely difficult, if not impossible.
As a result, we provide a unique service which allows you to request a property search in named villages, towns or cities for properties which suit your requirements. Upon request, a property finding itinerary is drafted and a quote is given for the cost of the search.
Once agreed by the customer, we spend 2-3 days searching for the right property and email you back our findings within one week. The cost of the trip is usually around 300 Euros and often results in our customers purchasing the property they want in their location of choice saving them time and money.