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    Pitfalls buying direct from owner ?

    Nothing of the kind in Bulgaria. No securities are ever used. No letters of credit, no mortgages to secure buyer’s rights, even the simplest security is rarely applied: paying the price to the notary instead of direct to the developer. The reason is that the middlemen operating in Bulgaria, who...
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    Pitfalls buying direct from owner ?

    When we talk about buying property in Bulgaria the Bulgarian legislation applies. And under it there are actually not real estate agents in Bulgaria. The word used is ‘посредник’ which means ‘middleman’ or ‘go between’ And this is not merely linguistic argument as it goes to the core of why...
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    Pitfalls buying direct from owner ?

    2B or not 2B? Is this a grade of pencil? In Bulgaria some estate agents think that the preliminary contract has the power of the title deed until the latter is signed. The agents have a lot of delusions. Most of them think that a preliminary contract reserves the property (actually the developer...
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    Pitfalls buying direct from owner ?

    Totally disagree with the above post. I’m sorry, but fine words butter no parsnips. Real estate agents don’t exist for the purpose of checking out the property for two reasons: 1. They don’t have the qualification, lawyers do. An estate agent would think that a preliminary contract has the...
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    How much time it takes for registration a company for foreign origin?

    It takes more like a month than just 14 days with all the other registrations (apart from the court one) of the company. And let’s not forget that it’s not the foreigner that buys the land, but his Bulgarian company that’s a separate entity! Article 22 of the Constitution of Republic of Bulgaria...
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    Buying disaster in Bulgaria

    People like good news. The simple truth is that we all prefer to hear something that makes us happy instead of hearing something that is complex, boring, troubling or not corresponding to our arrangements. That’s why people don’t like to read the small print and like to view nice computer...
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    solicitor recommended by estate agent risky for property in Bulgaria

    I'll join your campaign for real estate ethics in Bulgaria, please just tell me what to do! :) I hear of this campaign for a first time.
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    solicitor recommended by estate agent risky for property in Bulgaria

    Hallo Jain and Chris, You are right that it’s illegal for Bulgarian lawyers to advertise their services: that’s what Paragraph 1, Article 1 of the Bar Association Act says. However Paragraph 4 of the same act states that a lawyer may have his own web site containing professional information...
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    solicitor recommended by estate agent risky for property in Bulgaria

    Estate agents who sell property in Bulgaria will normally inform you that they provide legal service as part of the deal, however, they often neglect to state that the lawyer who will be acting on your behalf is of their choice. In Bulgarian Law the Bar Association forbids lawyers to use...
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    Buying disaster in Bulgaria

    Let me cover one more point. A preliminary contract does not transfer the property, it merely creates an obligation for the developer to transfer it in a certain future moment. The ownership of the real estate is transferred only after the title deed is signed and registered in the property...
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    Buying disaster in Bulgaria

    Usually no securities are used on Bulgarian real estate market to make sure the buyer gets what he has been promised to. :( For example Bulgarian lawyers usually don’t use letters of credit and don’t arrange the developer to be paid not directly, but conditionally through the notary. I came...
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