In the field of real estate law Dimitrov, Petrov & Co. has been providing a full range of services to foreign and local clients for more than 10 years. The firm maintains partner relations with several carefully selected reputable real estate agencies nationwide and works closely with several large estate companies from UK, Ireland, Finland and USA. Thus, the Real Estate Law Practice Group successfully provides professional legal advice and support in preparation of all kinds of documents related to real estate transactions, selection of appropriate real estates upon preliminary set criteria, negotiations and representation, investigation of ownership, legal regime and possible burdens on real estates (a full due diligence process), tax planning and other consultations regarding property acquisition, management and disposition, obtaining of bank loans for purchasing real estates and advice on mortgages, assistance in the process of changing the status of real estates from agricultural to urban land, etc.
Dimitrov, Petrov & Co. represents and advises several British, Irish, Portuguese, Russian and Israeli private investors in the purchasing of complexes and parts of buildings in the alpine skiing areas of Bansko, Borovets, Pamporovo and Chepelare, and in the surroundings of the medieval capital of Bulgaria – Veliko Tarnovo. The firm has developed an effective network to support investors in property acquisition and currently represents about 1,200 individuals purchasing luxurious apartments and blocks of flats in Sofia and in the Bulgarian seaside resorts of Sunny Beach, Golden Sands, Nessebar, Pomorie, Kavarna, as well as in the alpine ski resorts of Bansko, Borovets and Pamporovo. The legal assistance includes full representation – from the stage of negotiations and preliminary sale agreements preparation up to the enactment of the notary deeds for property acquisition and the closing up of the administrative procedures for registration of the acquired property for tax and statistical purposes.
The law firm also advises corporate clients on lease of offices, industrial plants and large buildings in Bulgaria, on different tax issues involving real estate, and provides representation before courts as well.
Dimitrov, Petrov & Co. has advised subtantial transactions in the real estate sector, inter alia, the acquisition of 100% of the shares of two companies which own plots around the city of Sofia with a total size of 182,000 sq.m., the acquisition of 100% of the shares of a company owning a number of plots at the Black Sea coast with a total size of 90,000 sq.m., the acquisition of a number of properties in the centre of the city of Sofia estimated at over 4 million euro, the acquisition of 100% of the off plan apartments in the St. John Park holiday complex in Bansko estimated at 16.9 million euro, the acquisition of 80% of the off plan apartments in the Alpen holiday complex in Bansko estimated at about 4 million euro, the acquisition of 70% of the off plan apartments in the Apolon 3 holiday complex in Nessebar estimated at 2.9 million euro, etc.