1.
Seller sends
electronically
or by fax
or by floppy
disk to the
bank’s
solicitor
a draft Purchase
Deed, a draft
Mortgage Deed,
ownership
documents,
plans of the
property and
Act 16 Certificate
for them to
be checked
and agreed.
2.
The seller
presents the
signed and
registered
Purchase Deed
to the Bank’s
legal department
in Bulgaria.
3.
Following
the acceptance
on behalf
of the Bank’s
legal department
of the above,
the buyer
or the solicitor
acting on
behalf of
the buyer
must present
the original
Purchase Deed
to the local
tax authority
to register
the property
in the name
of its new
owner, paying
the transfer
taxes at the
same time
and obtain
a Certificate
that the buyers
have no outstanding
tax obligations.
4.
Buyer or the
buyer’s
solicitor
collects from
the Notary
Public the
registered
Mortgage Deed
and the Certificate
of Encumbrances
now showing
that the Bank
has first
ranking interest
in the property
and sends
these to the
bank’s
legal department
together with
the insurance
policy document.
5.
Upon receipt
of the above
documents,
the Bank’s
legal department
notifies Piraeus
bank London
confirmation
that all documents
have been
received and
are in order. |
