CONCLUDING A SALES CONTRACT

After you have paid the reservation deposit, your Sales Advisor will prepare two contracts for you: The Preliminary Contract for purchasing the property and the Contract for Rental and Management by Lighthouse Golf & Spa Resort.

Before you sign the contracts, we encourage you to do all the appropriate checks so that you are comfortable with all aspects of your purchase decision. To perform all of the due diligence, you may or may not wish to hire a lawyer. Either way, it is helpful to have some understanding of the legal aspects of purchasing a property in Bulgaria.

Upon request, your Sales Advisor can provide you with all of the necessary documents proving ownership, quality of construction and selling company details and status. For each payment you make, you receive an invoice stating the amount paid, the reason for paying, and the date of payment. Therefore, you should correctly fill in your payment orders before transferring your instalments: your name and the property number you are paying for are a must.

Upon completion of the due diligence, it is time to sign the sales contract. Along with signing, you will be required to transfer the first instalment due. Its amount depends on the stage of completion of the property you have selected. The different payment plans for purchasing apartments in Lighthouse Golf Resort are as follows:

For properties that are in the initial stage of construction:

• 50% deposit at signing the preliminary contract
• 30% upon completion of the roof
• 20% upon completion of the building with the respective license issued by the authorities

For the properties for which the rough construction stage has been completed (roof and outside walls ready):

• 50% deposit at signing the preliminary contract
• 50% upon completion of the building with the respective license issued by the authorities

For properties that are fully completed and furnished, it is expected that the full amount be transferred or paid with agreed financing options.

It is only on rare occasions that clients of Lighthouse Golf & Spa Resort come to Bulgaria to sign a sales contract. Most customers prefer to have their contracts sent to them already signed by the selling company. It is up to you to decide whether to come to Bulgaria or to receive the contracts per express mail. If you decide to have your contracts sent by post, please do not to forget to give your Sales Advisor an exact mailing address, postal code and telephone number. After having received the contracts, you should return a copy signed by you to us. It is very important that both parties in the sales process have an original of the sales contract.

After we have received the sales contract and the maintenance contract signed by you together with the first instalment transferred to our bank account (also specified in the sales contract for your convenience), the property will be officially labelled “Sold”.