off plan purchase at crystal spa aparthotel - eurosilex

Discussion in 'Bulgaria Property' started by bettyb, Nov 8, 2008.

  1. bettyb

    bettyb New Member

    Im trying to find anyone who is/has been involved with eurosilex crystal spa project in Albena.I bought off plan over a year ago and there has been constant delays and now there partnership with Blackwater homes has stopped.I feel in a very vulnarable position as the agent i went through homes overseas direct has disappeared and left me without representation and i am dealing with eurosilex direct.If you have had any kind of dealings with both these companies could you please reply.The whole project has been delayed 18 months and i dont think they have started any work yet.
    Thanks
     
  2. yam600

    yam600 New Member

    Off plan purchase

    Hi,

    We have also bought from Eurosilex, however we were direct, in addition we visited the site at Golden Valley. They were very professional and meticulous in showing us the properties they had built and the project we were investing in.

    I'm sure that if you had visited the site, offices and met the people you would not be worried. However the construction is delayed and the contract makes provision for this.

    You should be ok, if not get over there and have a look.

    Ta.
    Mike.
     
  3. bettyb

    bettyb New Member

    hi Mike thanks for your reply but have already been over this summer and stayed at marina residence for 2 weeks.Yes i agree they come across as being very proffesional and i certainly did my homework before purchase .However the concierge service in place at marina are less than incompetent and as a buyer pray eurosilex up their act on future properties with regards management.Trust me things were bad.We were booked into villa St George but this was closed as they had no management service and looked like no one had ever stayed there since completion.You can put this all down to teething problems but added to everything else it still makes me nervous
     
  4. hennesb

    hennesb New Member

    crysyal spa albena

    hi bettyb,

    I purchased 2 apartments in nov 2006 and they should now be complete but I am concerned that they are now 2 yeas at least behind and they have my money that length. I did not visit the site . I am glad to find someone else who has purchased.
     
  5. yam600

    yam600 New Member

    I think the credit crunch and the market waiting to kick off have all added to the situation. The way the Euro is at the moment Bulgaria should be fully booked this summer. What was it like staying for 2 weeks? We liked Marina but thought it was to far out and not enough cafe's bars ect?
     
  6. rach123

    rach123 New Member

    [what's going on???}
    Hi,

    I am new to this forum. We bought an apartment in Crystal Spa back in Nov'07. We didnt get much information prior to Eurosilex taking over the development but I have been in touch with them regularly, well you could say I have persisted with sending them emails and contacting them by phone to try and establish what is going on with this development, if anything at all is?? I spoke with them today again, initially they would not give me a straigth answer as to whether the project is going ahead or not? I was told we would all get letters next week (via email, I imagine) to let us know what is happening. Then, I got a call back from the lady in the office to say the management confirm that construction will start soon!!! (or they just trying to fog me off!!!). I really dont know what to think? We all know that the development is going to be at least 18 months delayed so I'm not sure what more information we can get from this supposed letter (except to say they are NOT going ahead with it?? who knows!!). Our lawyer has also been looking into things for us since we were informed of the delay and if the project is 3 months late which it will be, we are entitled to compensation, if it goes to 4 months which it will do, you are entitled to get your money back providing your contact states this however, I am not a legal person but this is what our lawyers have put in our contact which was the one with previous developer. This is all very disappointing but if we keep on Eurosilex's case and make sure we state our case, we will have to ensure the result is what we want in the end. In my view that is, either they build the construction (we get what we paid for if thats what one wishes) and if not, we get our money back.

    Any info, or replies appreciated.[/QUOTE]
     
  7. hennesb

    hennesb New Member

    hi yam600,

    I purchased my apartment in Nov 06. The completion date was supposed to be Nov08, therefore it will be at least 2 years delayed, not just a few months. I am getting very concerned at this stage as I have paid a 40% deposit in May 07 which I was requested for when supposedly the building licence was granted. This is a year and half and you believe the constructin hasnt started yet. maybe I will need to visit the site this summer. Has anyone requested their money back and been refused it.?

    B
     
  8. rach123

    rach123 New Member

    Hi,

    We paid 70% back in Nov'07 and our completion date should have been June 2009. We received correspondence from Eurosilex when they took over from prev. developer and were told project would not be completed until Dec'10 (18 months late by our signed contract). I am not sure what other buyers have been told. I dont think any construction has taken place on the site but maybe other buyers have more info. on this. I think we should all ask for an update from Eurosilex now. I am not sure if anyone has got their money back? but I know depending on ones contract, you can if they goes 4 months over schedule which they clearly will but this will depend on what's in the contract. Visiting might not be a bad idea, I think we also will have to visit in these circumstances.
    R.
     
  9. bettyb

    bettyb New Member

    cessation of work/

    Hi read all inputs tonight on Crystal spa project.First of all im assuming when you talk about previous developer you mean Blackwater holmes?When i bought like yourself back in nov 07-40% dep it was a partnership betwween eurosilex/blackwater holmes and completion was 06/09.
    Now firstly to all the threads involved if you visit eurosilex webpage ,on the top right hand corner click on -clients- and it will bring up projects under construction.Click on Golden Valley (project beside crystal spa nearing construction ie 06/09) you will see the last pictures of site are back in Oct 08 .I have been checking these pictures for updates every month for over a year and they always update by the following month.So has it all stopped in oct?The same applies in kavarna hills project.There are some photos for crystal spa in june 08 but i was there on the actual site in july 08 and it had returned to a meadow (have photos on phone)There is definately no development at crystal spa.The Golden valley was well ahead and same as photos show on website for july 08.If all work has stopped on all eurosilex sites what does this mean?Im afraid visiting wont help the situation and i feel the only way forward is rescinding the contract as stated in preliminary contract .Does anyone feel the same? has anyone tried this through a lawer?
    I am very wary of trusting anyone as the agent i went through ripped us of and i am therefore reluctant to use a lawer of the internet but i have to start somewhere as i am out in the cold . Is anyone else interested in going down this path,do you want to reclaim your deposit?Ive read of collective groups trying this with a company that appears to have ceased trading.Pretty worried investor please get in touch bettyb
     
  10. rach123

    rach123 New Member

    Hello

    I understand your concerns and also about using another agent in view of the experience you had. We have a recommended lawyer from the start prior to our purchase and we have a signed contract which will hopefully stand up when it comes down to the wire of getting our money back!! Do you have a signed contract with Eurosilex and/or Blackwater Homes?

    According to Eurosilex, we are due to get letters end next week sometime informing us what is going on? As soon as we do, I will be get our lawyer to look into things and report anything useful back however, it takes a little time liaising with his company (parent company) lawyers in Bulgaria but so far he has not let us down. When we were informed of delays our lawyers company liaised with Eurosilex and Eurosilex were not willing to give any comepenstation at that stage until after the original completion date which is sometime in Jun'09. As we have been using our lawyer since Nov 2007, we would be reluctant to use another route now but any info. I can pass on I will certainly do so.

    R
     
  11. hennesb

    hennesb New Member

    Hi All,

    I was using a layer called vladimir ivanov. He was recommended to me by the company which I bought the apartment of called " Bulgarian New Build". I have not heard from him since I signed the contract. I assume the reason I dont hear from him is that I never paid him. I found it a bit peculiar that he wanted full payment then and he also wanted the monies paid into a cyprus account which I found peculiar. Anyway I never paid him and he never requested his payment since. He was recommended to me by the company which I bought the apartment of called " Bulgarian New Build".

    Reading thoroughly through my contract yesterday, it does also state that I am entitled to compensation after a 3 month delay and month 4 I may request my money back. While I would like to own the property, I think Id rather collect my money and possibly go over and purchase one at the same price which is already completed. I see they havnt increase at all in value since I bought in Nov 2006. I havnt been at all informed of any new completion date and if it is end of 2010 which will probably be delayed again that is over 2 years longer than my contract date. Its not good enough that they can have our money sitting in a bank for four years. I am going to have a good think about what to do.

    B
     
  12. rach123

    rach123 New Member

    I agree it is not good enough they they have our money for this long. We are going to see what happens next week and in the mean time we have contacted our lawyer but not heard anything back yet. I think we too would like our money back, I cant see this develoment getting started now!! Any other buyers that can shed light on things, much appreciated.
     
  13. bettyb

    bettyb New Member

    lawyers

    Hi my contravt is with eurosilex/Blackwater homes and has a clause of 180 days for terminaion.Did you get letter back in Aug08 from Alexandre Glas,chairman that work will start in 2 months?Can you tell me who recommended your lawyer ie are they independant of either companys involved?If you wouldnt mind could you pass on your lawyers details and any futher info that comes to light .
    Regards Betty b
     
  14. hennesb

    hennesb New Member

    hi all,

    I just wish to clarify that " Bulgarian new build" was the estate agent that I purchased my property through. they are an Irish company in bulgaria. I have just been browsing their website and found something scary which was that they charge A 3% fee plusVAT to assist in the purchase of property. this is a new one on me. Is this familiar to any of you. They gave me a schedule of all fees involved in the purchase down to 25 euro for electicity charge but no mention of their 3%. My contract is also with eurosilex/blackwater properties. My layer was recommended to me by katya todorova ( manager of "Bulgarian new build") . All my communication has been through her but I have not heard from her in a long time. I also received that letter some time back informing me that eurosilex had bought blackwater out. I am almost certain now that I am going to request my money back.
    B
     
  15. dannyo

    dannyo New Member

    HI ALL
    this is my first time to post but i have read all your posts with great interest,i bought an apt in golden valley in dec 06, and judging by the way eurosilex is carrying on i fear this will not have a happy ending.iVE BEING TO GOLDEN VALLY many times and euro silex are great people to tell u about what they are going to do but never actually do it. i have a little experience of doing business there and i think its time all posters here put their heads together and face up to what is about to happen.
     
  16. bettyb

    bettyb New Member

    dannyo,i think you have just confirned my fears that all is about to go ---- up.What have they told you about the reason for delays at golden valley ie they are so close to the end of the project ,has all work ceased and if so what are they telling you?I am trying to find a lawyer but as ive said before im frightened of getting even deeper in the -hit (dont know if you can swear in this forum) and trusting a lawyer of the internet cos they talk the talkYou sound as though you have a realistic view of whats to come, can you share your thoughts and do you have any suggestions of a way forward? bettyb:mad:
     
  17. rach123

    rach123 New Member

    My lawyer is looking into now, and will get back to me as soon as he has any info. I'll post anything I find out. It's hard to know what to do especially as their other projects seem to have stopped etc. going by Golden Vally post. The lack of honest information from Eurosliex is most fustrating. If all fails, I think we should all bombard them with telephone calls and emails until we get some sort of respoonse (even if it means hearing what we're already coming to conclusion, which is that we are not going to get what we paid for).
    Regards,
    R
     
  18. dannyo

    dannyo New Member

    HI GUYS
    I have being in this position before with no one to talk to and it is very worrying i know ,I have a lawyer in place forthe last two years and can talk directly to these guys how ever i dont mind sharing info with you guys as you seem not to know whats going on,but i would like to take the chat private as anyone can view this,if u pm me your email and your cell numbers ill try and bring u up to speed on what is happening,but foranyone reading this its time to stop burying yourheads in the sand as i feel your investment is at risk,
     
  19. dannyo

    dannyo New Member

    hi rach 123
    i think this is already happenening phone call and emails by the hundred are going to them,I think at this point you do not know who you are dealing with this will have no effect on them whats so ever they will just keep fobbing u off.time to let these guys know u mean business,other than that they are laughing at u
     
  20. rach123

    rach123 New Member


    our lawyer is now dealing with them...so they wont be laughing for too long!!!
     
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