Please see the beginning of the Forum post. And then say on which side am I.why would they build and make no profit, ? I believe they dont have buyers and now they want to get some moneys back from their investment, just before they go dead broke!
I think both vthills and emotion need to calm down. Clearly they are both on here as agents / developers / middle men... to sell properties they have on their books in some way.
I agree, I am sick of this Apart from coming on forums pretending for the most part to be on the buyer's side, they are doing a disservice to other agents. Not to say that other agents don't do the same.
It may come as a surprise to agents, particularly including vthills, emotion and sash solutions (aka galina),that the majority of buyers are pretty much aware of what you are doing and your underhand ways, so will usually discount you.
The worst of all this, though, is that there are some souls out there who will take you at face value, and you know that which is why you operate the way you do.
This whole modus operandi is only giving Bulgaria a bad name. Why you should seek to destroy your living, which comes from people buying in Bulgaria and wanting honest opinion and advice, goodness only knows.
As e-motion says see the beginning of the thread and how it started, which was e-motion banging about potential (supposedly real) discounts. In particular they raised the possibility of buying through a company and the fact that investor can reclaim VAT by buying through a company, which I believe is misleading benefit that I have to take issue with because it is not as clear cut as they outline. In the event that the company makes a profit (which I very much doubt is going to be possible in Bulgaria) the investor will be hit twice by tax, which eats up the benefit of doing it this way in the first place. First the company gets taxed on the profits it makes, then when the investor takes the remainder of the profits as a dividend they will be taxed on their dividend. So the VAT benefit is eaten away in tax. At the outset investors will also have to stump up the additional costs related to the set up of the company. Granted you can take certain costs off the taxable gain, but at the end of the day it is not as simple and clear cut as you have made out. But, then again nothing is simple in overseas property because it is an unregulated market that is not policed by a financial regulator so agents can spout these spurious claims without fear of being reprimanded. It is just another example of why investors should not take anything agents say at face value and always take legal and tax advice on their investments.
I want to excuse my self for being so ... You know.e.motion
Less aggression please - and get caps lock off, as it just feels as if you are shouting.
Geordie makes a good point. It is not suitable for everyone to purchase through a company. It depends upon the individual’s needs and situation of the buyer.
He also quite rightly points out that there is no regulation in the Bulgarian real estate sector and therefore agents and developers can make spurious claims about anything.
We are doing everything we can to push for regulation in the market and have been running an active campaign for the last five months which is supported by many agents, banks, lawyers, etc who are all anxious that this market is properly regulated and have agreed to abide by a code of practice. At least it is a start.
As Geordie said, and I whole heartedly concur, always take independent legal and financial advice from professional sources when buying property.
Absolutely right, I agree with Geordie. But... you all are talking about cosmic commissions of agencies- 15- 20% ???????? It sounds as a real crime!The only way it is possible to buy a property at a discount is if the owner of the property doesn't realise the true market value; if the owner is willing to give a discount because they need a quick sale; if you are stepping into a deal where the someone has pulled out of a purchase but has already paid a deposit/installments; or if you get a discount for buying in bulk.