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 Good advice for property buyers

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PostSubject: Good advice for property buyers   Wed Sep 08, 2010 5:51 am

The most apposite advice here is "
remember to collect your brains from the carousel....."
So many don't and suffer the consequences.

Taken from another forum

I have been in Bulgaria for 18 months now and it took me a little over a year before I convinced myself to buy (I'm probably somewhat conservative by nature!). This involved looking at various options, Sofia, Varna (not really interested), Bansko and then smaller villages in remote parts. Also I got to understand (a bit) the Bulgarian approach to real estate transactions.

How have I avoided fraud so far:
1. Get a good lawyer, use one recommended by a friend - never ever use the sellers suggestion.
2. Remember to collect your brains from the carousel when you get off the plane! I attribute that thought to a friend who has been here for 14years.
3. Read any paperwork given to you - get a translation if its not in english, if its in english get the translation checked (if nothing else it will give you peace of mind that the other side have the same understanding as you do).
4. Don't be bullied into paying a booking fee that is none returnable. By all means lodge a useful payment with a trusted third party, but on terms that mean you're not cornered into accepting whatever rubbish contract you're given. This gives the seller assurance that your serious and avoids dodgy characters cheating you out of your money.
5. Trust you solicitor, but dont forget they work for you - if you dont understand something make them explain it until you do. After all its your contract and you'll be the one to benefit or otherwise from what it says.
6. Make sure penalty clauses are equitable.
7. Dont have a three month cooling off period in the contract before penalties are payable - get the seller to declare the date he intends to be ready and stick to it. (A cooling off period merely extends the dates you've been given!).

Most of this is not peculiar to Bulgaria, it can be summarised as 'if you wouldn't do that at home, don't do it here'. Bulgarians are not all out to fleece you, and even the peple selling the first property we put an offer on (and were then told by the solicitor not too buy for legal reasons) were'nt complete crooks - I think they just had a more flexible approach to the legal niceties that should have been followed!! Perhaps I'm overly generous, but...
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oldun
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PostSubject: Re: Good advice for property buyers   Wed Sep 08, 2010 8:33 am

Such good advice but will people listen? Over the years on forums I have posted a lot about life here, most of it very positive, but also some things to watch out for. I have become cynical of late because I think people just don't listen and prefer to think they know it all. I have bitten my tongue more than once to stop myself saying 'I told you so!'
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oldun
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PostSubject: Re: Good advice for property buyers   Wed Sep 08, 2010 8:40 am

Forgot to mention that the most common reply when trying to help is 'Oh I've done all my research on the internet'. Well, you are in the 'real' world now. Its tantamount to saying 'if its on TV or in the newspaper it must be true!' and we all know that's a lie. s
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BGTRAVELLER
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PostSubject: Re: Good advice for property buyers   Wed Sep 08, 2010 11:33 am

[You must be registered and logged in to see this link.] wrote:
Forgot to mention that the most common reply when trying to help is 'Oh I've done all my research on the internet'. Well, you are in the 'real' world now. Its tantamount to saying 'if its on TV or in the newspaper it must be true!' and we all know that's a lie. s


Couldn't have put it better
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BulgariaLawyer
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PostSubject: Re: Good advice for property buyers   Thu Sep 16, 2010 10:11 am

[You must be registered and logged in to see this link.] wrote:
Forgot to mention that the most common reply when trying to help is 'Oh I've done all my research on the internet'. Well, you are in the 'real' world now. Its tantamount to saying 'if its on TV or in the newspaper it must be true!' and we all know that's a lie. s
Hi All,
I just want to add not to trust to Real Estate Agents. They work for a percent of the deal and to earn their commission they can hide defects of the property. On the other hand the usual 10 % which they charge is too much.

Bulgaria Property law
[url][You must be registered and logged in to see this link.]
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Tel.: 00359885040808
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Daisy
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PostSubject: Re: Good advice for property buyers   Thu Sep 16, 2010 10:17 am

Thank you for your advice BulgariaLawyer can I suggest that you introduce yourself in the new members section and tell us something about you and your company, its always polite to do this so we all know who you are s
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Admin
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PostSubject: Re: Good advice for property buyers   Thu Sep 16, 2010 10:33 am

Well spotted Daisy :Congtrats:BulgariaLawyer can you go here [url:15gmt1gt]http:
//www.
ourbulgariaforum.
com/viewforum.
php?f=18[/url:15gmt1gt] and introduce yourself and tell us a little about you and what it is you do g

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BulgariaLawyer
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PostSubject: Re: Good advice for property buyers   Thu Sep 16, 2010 11:07 am

[You must be registered and logged in to see this link.] wrote:
Thank you for your advice BulgariaLawyer can I suggest that you introduce yourself in the new members section and tell us something about you and your company, its always polite to do this so we all know who you are s
Dear Daisy,

Yes, I will be glad to introduce my company. We are independent and professional lawyer office and we operate throughout Bulgaria. We don't work for Developers and Real Estate Agents. I liked this forum, because the aim of the Forum is to provide trustfull information about Bugaria. Our aim is the same - to prevent people from frauds in Bulgaria.

OurBulgariaForum allows the sellers to advertise FREE their property in Bulgaria. We will have the same option on our website soon. The seller will advertise FREE and he will put his phone number and E-mail address. The buyer can contact with him directly and there will be NO commissions. There will be no 10 % for the Real estate Agents .

Also we can provide FREE lawyer advice to the members of the Forum - trustfull and independent.

Bulgaria Property Law
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Whalesmc
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PostSubject: Re: Good advice for property buyers   Sun Oct 03, 2010 7:05 pm

We live in the North West of Bulgaria, the Vidin region. Trust is a difficult concept for many people. Many contributors recommend that future buyers read documents and check details before progressing. I would like to recommend further advice, listen to more than source of information to check that the people you are dealing with are appropriate, trustworthy and safe. Unfortunately, we are aware that some fellow ex-pats in this area have been the subject of wrong doing by British. Only by talking to other people in the area do you become aware of who you can trust and who you cannot. Be aware of sellers who purchase houses in BGLevs and sell in Euros. If there are fellow Brits in the area seek their advice.

best wishes
Whalesmc
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Blink
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PostSubject: Re: Good advice for property buyers   Sun Oct 03, 2010 9:29 pm

[You must be registered and logged in to see this link.] wrote:
We live in the North West of Bulgaria, the Vidin region. Trust is a difficult concept for many people. Many contributors recommend that future buyers read documents and check details before progressing. I would like to recommend further advice, listen to more than source of information to check that the people you are dealing with are appropriate, trustworthy and safe. Unfortunately, we are aware that some fellow ex-pats in this area have been the subject of wrong doing by British. Only by talking to other people in the area do you become aware of who you can trust and who you cannot. Be aware of sellers who purchase houses in BGLevs and sell in Euros. If there are fellow Brits in the area seek their advice.

best wishes
Whalesmc


Brilliantly put
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