Properties sold by a private (ЧСИ) or state (ДСИ) enforcement agent often start below market price. The procedure, though, is strictly formal. Miss one deadline or fill in a bid incorrectly and you lose the chance, or the deposit. Here is how it works under the Civil Procedure Code (ГПК).
The notice must state the owner, a description of the property, mortgages, limited real rights existing at the date of the attachment, registered claims, attachments and leases, the starting price, and the place and period of the sale (Art. 487(1)). It is the first document to read carefully.
The agent appoints an expert to value the property. The starting price is 80% of that valuation (Art. 485(4)). At the first sale it cannot be lower than the tax valuation (Art. 485(5)). If the property does not sell, the second sale starts at 90% of the first sale's starting price (Art. 494(2)).
Until the sale, the debtor stays in possession (Art. 486(1)). The agent sets viewing times (Art. 487(4)). If the debtor obstructs viewings, management can be handed to someone else (Art. 486(2)). Do not buy blind. If a viewing proves impossible, price that risk in.
| Step | What happens | Legal basis |
|---|---|---|
| 1. Period | The sale runs for one month at the district court; the file is available at the court office | Art. 488 |
| 2. Deposit | 10% of the starting price paid into the agent's account | Art. 489(1) |
| 3. Bid | Price in figures and in words, in a sealed envelope with proof of the deposit; one bid per bidder | Art. 489(2) |
| 4. Filing | At the district court office; it can be withdrawn until close of business on the last day | Art. 489(4)–(5) |
| 5. Opening | At the start of the next working day, in front of the bidders present; the highest price wins, ties are drawn by lot | Art. 492(1) |
| 6. Oral round | A bidder who is present may offer one deposit more; the agent asks three times for a higher price | Art. 492(2) |
| 7. Payment | The balance is due within two weeks of being declared the buyer | Art. 492(3) |
Bids below the starting price or more than 30% above it are invalid (Art. 489(6)). The debtor, court and agent staff, and the persons listed in Art. 185 of the Obligations and Contracts Act (ЗЗД) may not bid (Art. 490).
If the buyer fails to pay in time, they lose the deposit and the next-highest bidder is declared the buyer (Art. 493). Your money must therefore be in place before you bid. If the debtor pays the whole debt before the bidding period closes, the sale does not go ahead (Art. 491).
Once payment is made, the agent awards the property by an award order (постановление за възлагане, Art. 496(1)). When it becomes final, the buyer acquires the rights the debtor had in the property (Art. 496(2)), and nothing more.
Only a bidder who paid a deposit, a creditor who bid, or the debtor may appeal the award order. The only grounds are that the bidding was not conducted properly or that the property was not awarded at the highest price (Art. 435(3)). The deadline is two weeks (Art. 436(1)).
On the basis of the final award order, the agent puts the buyer in possession against anyone occupying the property (Art. 498(1)–(2)). This also applies to tenants who registered their lease after the first mortgage (Art. 498(3)).
Proof that the tax and fees have been paid is presented at the handover (Art. 498(1)). All figures are indicative.
The Code expressly allows bank financing for purchases at an electronic public auction (Art. 501ж). At the classic sale with sealed written bids, financing is harder in practice: you have only two weeks to pay, and the bank wants a valuation, a viewing and clean documents. If you are relying on a loan, talk to the bank before you pay the deposit. The basics are in our mortgage guide.
This article is general information, not legal advice for a specific case. Verified October 2026.
Considering a property at a public sale, or want to compare it with similar homes on the open market? Call us or visit our office, and we will go through the notice and the documents with you.
