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Help Need Urgent Advice,re Property In Bulgaria

Discussion in 'Bulgaria Property' started by briot, Feb 8, 2008.

  1. briot

    briot New Member

    Last year, we decided to purchase 2 apartments in Bulgaria, we decided to go through a UK property service(which I won't name yet) they were very helpful, we had about £50000 topped up on our mortgage, we told the company our specification, they found 2 properties for us that would cost more, however this estate agent said they would personnally give us 2% cashback to help pay the extra cost.The developers gave us a discount on one property as long as we paid in a certain time, due to delays in us getting the money this took longer than we expected, various emails were sent but we eventually paid the cost of the apartment in full within 6 months. The other property is still being built so we don't need to pay the final instalment until July 08. However, I have been emailing and calling the UK estate agent enquiring about when they will send the cashback( offered once the apartment was paid in full) since Oct 07, they either ignore me or 'rudely' say they will call me back but don't. I contacted them again and finally got an email saying that due to the delays I will now not get a penny. This has upset me greatly as I was banking on that money to pay the final instalment and now might possibly lose the whole property. Can someone please help me or give me some advice on who to contact legally. Thank you
     
  2. seamus

    seamus New Member

    i have good solicitor in varna but you should go to solicitor u k first you will find it hard to get money back i am going to bulgaria next week if i can be of anyhelp pm me
     
  3. CBH

    CBH New Member

    Advice

    Hi,

    1...The agent and the construction company are diferent companies..The construction compani never give you a money back.. they give you a discount of the purshase price and this discount you receive when you signed your contract...If you have a 10% discount you can see this in the perminaly contract.Sometime in the contracts you do'nt see this discount becouse the company just recalculate your price befor you sign this document...consult with a lawyer in uk.
    2...If the agency give you a 2 % money back, they have to pay that when you sign a perminaly contract...The construction company and the agency have do'nt have a interrelations after you sign the contract and pay your first payment...The construction company give about 6% commision to the agency in this moment, and that's all of the money that this agency winn from this deal.If you have a 2% money back from this agency they have to give you this money from the agency commission..If you have a contract with the agency, befor you mace a contract with the construction company you can consult with a lawyer and you will receive this 2%...If you do'nt have a contract with this agency and you have only a contract with the building company..you have to forget about this 2%

    sorry for my bad english....the people have to see your contract to give you a best advice...Speak with a lawyer and check the price in your contract ...in Bulgaria the construction company make a 10% discount if you pay all of the price in the perminaly contract.Check your contractss again.
     
  4. briot

    briot New Member

    Thanks CBH, I have now consulted a solicitor, who advised me to write a letter of notice and to include all my documentation and the scenario, also to give the estate agents 14days to pay up! Your advice was very useful, and your english isn't bad either so thank you very much!
    Also to Seamus, Thank you for the offer of your solicitor in Varna, I do deal with a lawyer in Bulgaria but he is associated with the estate agent, and has been quite abrupt with me (I'm not sure if thats just their way),however you are most kind to offer help when you visit, its not often people offer to help a stranger, however I will see how this letter to them goes and let you all know.Thank you once again
    Also, I'm a bit scared of repurcussions, if I do take them to court could they retaliate by damaging my properties in Bulgaria, I know this sounds like something out of the movies but my mind does wander!!
     
  5. seamus

    seamus New Member

    you should not worry about repurcussions afterall your only tring to get back what yours its not good to have agent and solicitor conected it was amistake imade too it cost me dearly what part did you buy in
     
  6. thetravelbug

    thetravelbug Banned

    Do you actually still want to purchase the second apartment? Where are your apartments and what is the purpose of buying them - holiday home, rental, investment....as if you are going to be relying on resale or rental to repay your mortgage you should consider things very carefully. I am presuming your apartments are likely to be around Sunny Beach somewhere or Bansko.

    Have you actually been out to see the one apartment you have paid the full amount on?

    Rachel
     
  7. briot

    briot New Member

    Hi Yes I have seen the sites and part of the buildings, one is near Varna the other one is in St Vlas, the reason I bought them is to eventually sell and make some money on them so that we will have a smaller mortgage, in the meantime I will rent them if I can (which is another thing I worry about as last year we had the pick of apartments to rent at very reasonable rates).
     
  8. seamus

    seamus New Member

    Hi briot
    from what know st vlas is not good for resale is overdevoloped and as far as i no good for rentel probably not what you want to hear varna ok for rentel if in city if second one is in resort iwould think again about buying
     
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