The Spanish star, playing in Europe for the first time since capturing the Masters in Augusta in April, had led after birdies on the 12th and 13th holes before 44-year-old Bland responded.
Bland and Garcia fell back with late bogeys, meaning that they both needed an eagle on the 72nd hole to force a playoff with Romero.
Andres Romero held on to his nerve down the stretch to claim his first European Tour title in 10 years at Golfclub M nchen Eichenried.
Bland hit water on the 11th hole but recovered for his fourth birdie, and he followed up with an eagle on the 13th to move ahead.
Garcia, who carded seven birdies, added: "It's nice but it doesn't mean that it's finished".
Lagergren had set the target in the morning with an impressive 66 and rookie Stalter was the only one of the later starters who could catch him as he posted a 68.
Belgian Thomas Detry and Andres Romero of Argentina finished on 10 under while defending champion Henrik Stenson of Sweden dropped five strokes behind the leaders after a disappointing round of 72.
Stenson went one better with a 69 that contained birdies on the 11th, 18th, first and eighth and a single blemish on the 13th.
"I think I obviously have a little more confidence since the Masters but I don't think I'm a better player than I was before I won the green jacket". "We've got 36 holes left and hopefully if I can just try to keep improving, I should, hopefully, be in there come Sunday".
The overnight leaders started slowly, with Bland playing his first eight holes in one over, while Spaniard Garcia was even par.
Swede Rikard Karlberg carded a 66 to finish at 14-under, a shot clear of England's Tommy Fleetwood who closed with a 67 and Italy's Renato Paratore who signed for a 68.
"It was great", said Garcia to the European Tour's official website.
Romero said of his stunning success: "I'm really, really happy". I felt like I played well enough to win for sure.
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