Be careful with Bulgaria....

Discussion in 'Bulgaria Property' started by rabarbaro, Jul 7, 2007.

  1. rabarbaro

    rabarbaro New Member

    Hallo, I'm buying a property in BUlgaria and things are not as good as it seems....
    problems with sqm , prices, language, lawyers...and many more...
    if you want I can explain what's going on with me so you can be more careful than me.....
  2. deedee1

    deedee1 New Member

    Re: Bulgaria!

    :) Hi Daniela,

    I too have bought in Bulgaria about 18months ago and I am due to complete on my apartment on August any info good or bad would be appreciated!

    Thanx D :)
  3. rabarbaro

    rabarbaro New Member

    I try to summarize, if you want I can write to you on an email

    Well, I'm buying through an English estate agent, Dreamresort, near Sozopol.
    In the end the agent is acting not clearly, the builder changed plans ( prices, sqm and so on ) many times, always in the worst way for the buyer....
    I had to send documents notarized many times, there were always changements...
    At the moment I'm buying a studio, should have been 38.9 sqm plus 15,5 of a terrace. After many many changements the beginning price was 35.000 now is 61.500 and terrace doesn't appear in the official documents.
    The notarized documents also were an headache, I hope solved but I'm not sure......
    I notarized them 3 times with a notary, here in Italy, spend a lot of money and now, after months I had to go to the Bulgarian Embassy as the italian notary was not enough....but nobody had told me before !!
    I think that choose the lawyer that the estate agent suggest is a bad idea....I still don't who who is following my interest...
    I paid 950 euro for a lawyer, already paid, and there are working in an unclear way....
    I could go on for hours....but I think I'm boring....
    Anyway..... keep your eyes open and don't think that agents and attorneys are on your side......they are not !!
    Thank you
  4. Platinum

    Platinum New Member

    Hi Guys

    Sorry to hear about your problems, but this happens with smaller companies. I work for Europe's leading developer in Bulgaria and we are not having these problems - we have finished projects and off plan projects which are making our clients very good money. If you need any help please email me at [email protected] and i will try and help you
  5. lina

    lina New Member

    hi Danilela,
    I'm sorry for You, but I have to agree with Platinum.
    You've made a wrong choice with Your real estate agents and Your real estate developers.
    People, be more careful, please!
  6. Platinum

    Platinum New Member


    Did you not sign an prem agreement on the apartment stating that you were buy apartment number at x sqm for x price signed by you and then the developer. If you have this then the developer can not changed the price and the size not unless it works in better for you - you should challege then and ask for your money back - i bet that you don't have 100% on title deeds and that they haven't paid the vat - this really upsets me as it gives Bulgaria a bad name - all i can say is cowboys - next time give us a shout and i will show you what we do and you will then see a difference.
  7. rabarbaro

    rabarbaro New Member

    I'm talking about a big building society...

    hallo, thank you very much for your reply, I'm buying in Saint Thomas, site Saint Thomas Residence - Saint Thomas Residence , one of the biggest buinding society in a beautiful locations.
    Unfortunately they are acting really in a bad bad way, today I discovered other things regarding the apartment size and so on...
    In the end I paid for 38,7 of apartment, 14 of a cave, 15,6 of a terrace.
    The terrace, discovered now, is a "right of usage" not a property, and it won't be mentioned in the notary act. I still don't know if there will be fences , floor an so on.
    Anyway I paid for 38,7 and in preliminary act there is written 33,72. I 've been told that 33,72 is the net area, 38,7 is included the walls.
    Today I got the official plan...and..surprise...adding up the rooms size I have only 27 sqm !!
    Do you think there is something I can do ?
    I'm worried that the lawyer I choose is too connected to the Society and the Estate agent....
    Please help me !! Or at least advice as many people as you can to warn people from falling in this trap !!
    Thank you
    Last edited by a moderator: Jul 9, 2007
  8. Platinum

    Platinum New Member


    Please ring me on the number below i will try to help you

    07809 412803
  9. Annabel

    Annabel New Member

    Hi Daniela,

    Did you manage to sort out problems Daniela?
    I also have some trouble in buying process of off-plan project and would love to hear comments or suggestions from the other users in the forum. I used independent lawyer as Daniela did, but it appeared in the final check for the property that there is different details written in english and bugarian version (regarding materials used etc). It were supposed be luxury flat, but in the end, cheapest materials were used. Also, agency said it will include fully fitted bathroom including boiler mirror etc- all, but these were not anymore mentioned in the preliminary contract after deposit was paid.
    Also, builder was delayed over half a year for finishing the apartment, and even though there were penalty clauses for builder, I dont know how to proceed. It also appeared that in final check before going to sign notary deeds, there were moisture problems and mold growth in the flat, and when i didnt sign notary deeds yet before problem is solved, builder said he can start selling apartment to other one if notary deeds are not signed within 2 weeks. Is it legal? Do I have a real worry for loosing flat even though I have made payments according to the contract and not signed notary deeds before property defaults are fixed?
  10. Platinum

    Platinum New Member


    You should only sign the deeds if you are hundred percent happy, as once these are signed you take legal ownership of the apartment - get you lawyer to write to them and confirm what the problems are and what needs sovling any good developer will deal with these. If it is write down by the lawyer the develper can not sell the apartment as it is yours - if the developer puts you under pressure, that him to give you your money back and then he can resell it if it made that much money. If you are having problems in your apartment i quess other people are so the build quality must be poor

    If you would like to dicuss this futher

    Call Me

  11. rossmark68

    rossmark68 New Member

    Hi Annabel
    I have sent you a PM that may help
  12. Annabel

    Annabel New Member

    Thanks for replies, I've contacted solicitor who helped with the preliminary contract , but havent got answers yet, hopefully soon.

  13. najnaj

    najnaj New Member

    Hi, Daniela and all the participants,
    as I told you in the other sections of the forum, big resorts and uncomplished buildings may be a problem, as well as incorrect agents...
    it is better to find some real estate company- member of National real property association or to ask for some references for example
  14. prigipeska

    prigipeska New Member


    Sorry to hear about your problems.
    Being an independent lawyer myself, i can only stress how important it is not to accept the lawyer that you get thrown at you as the "best lawyer in the business" by your real estate agent, usually they work for the developer/agent and not you. I have many similar cases against small, and even the biggest players in the bulgarian property market, all who decide they can do what they want when they want.
    It is always important to have the contracts independently checked, and altered if there are discrepancies, as well as all other contracts, i.e. maintainence and rental.
    I hope you get everything resolved.

  15. e.motion

    e.motion Banned

    SO you guyz are agent as well and all you do all day is redirecting traffic. By saying "I'm buing in Alpen lodge" or something like that. You now that this is LOW.
  16. florab40

    florab40 New Member


    Hi Daniella,
    I bought in Bulgaria in 2003. I thought it was a good deal 1200sqm, an unfinished house , 6km from Sunny beach.
    4years down the line, it's still unfinished, as the builder did a runner. Furthermore, the solicitor messed up my notarial deed and I have just managed to rectify that.

    The land issue, the land can never belong to one as it is a lease hold from the council. But one has the option to buy it out.
    But I am much the wiser for it and I will re-invest again in Bulgaria as I have learnt so much from the first experience.

    Excellent for Yoga retreats or nature trips.

  17. Ekko

    Ekko New Member

    No, your projects are losing people money. I, along with about 20 other investors, are still waiting for a total of about £250,000 we are owed by platinum in returned deposits which was promised by platinum when you took over finishing pomorie golf and beach resort, now sunset resort.
  18. Ekko

    Ekko New Member


    Not as upset as I and the other people are that you have now reneged on your agreement to return our money.

    You simply cannot come on here and advise people on contracts when you do not honour your own.

    I signed a 3 way agreement with platinum and the original developer in which you contractually agreed to take responsibilty for returning our money, but now say you will not do. Your company now refuses to get involved with us and we are fobbed off onto a bulgarian solicitor who we cannot contact.

    It can be seen very clearly "what you do".

    Anyone can do a general search on this forum or others to see the problems.
  19. alexander ivon

    alexander ivon New Member

    All ,so called "English estate agents " are the same people - "investors' , been "burned " time ago from another "Estate bla . bla . bla" now getting smart and set up agency.How can people , who have just come to Bulgaria from another part of the world to become such "established in 15 years experts " , i am a bulgarian , who lived 12 years in Europe and i know how to see thinks from "in & out .Thank You for the time.
  20. rabarbaro

    rabarbaro New Member


    You are probably right, where there is an opportunity a lot of strange people arrive...
    Thank you
    Last edited by a moderator: Oct 7, 2007

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