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Property auctions in Bulgaria double in 2011

The number of property auctions initiated by private enforcement agents in Bulgaria in the first months of 2011 was double the numbers from the same period of the previous year, according to the data from targ.bg and Bulgarian Chamber of Private Enforcement Agents (BCPEA).

In 2010, property tenders came in at 700 to 800 a month on average, but their numbers soared to between 1500 and 1600 in January and February 2011, Mariyan Petkov, private enforcement agent and BCPEA member, said.

By comparison, the number of auctions for enforced sales of property in 2008 stood at between and 40 and 50 a month, targ.bg owner, Georgi Papourin, said.

The increase in property auctions was attributed to the growth of non-performing mortgage loans, as well as to the accumulation of old tenders that found no buyers.

I agree with Blink you will find all properties for auction on the Municipality sites but you might also find them in other places but where I don't know, the other problem is a lot of the Municipality web sites won't translate so that make it almost impossible unless you can read Bulgarian? but you could try asking on here if anyone can help you translate I would suggest you ask Louise she is very good and I'm sure would love to help if she can. Good luck.

Blink wrote:

I'm not totally sure but I think you will need to look on the respective Municipality websites? here is an example [You must be registered and logged in to see this link.] ... 41&
lang=en Its suppose to be in English but it isn't .

Many thanks Blink I will have a closer look later in the year, but in the meantime I have saved the sites and will see what's going on.

LisA wrote:

I agree with Blink you will find all properties for auction on the Municipality sites but you might also find them in other places but where I don't know, the other problem is a lot of the Municipality web sites won't translate so that make it almost impossible unless you can read Bulgarian? but you could try asking on here if anyone can help you translate I would suggest you ask Louise she is very good and I'm sure would love to help if she can. Good luck.

I have bought a property through an auction room in the UK, but I am more at home buying cars by auction as one of my former occupations was as a car trader. I bought dozens of cars from an auction site in Wimbledon and also sold some there as well. I was present at the sale of one of my cars and stood in the corner of the auction room and bidded several times on it while it was on the rostrum!! Michael, the auctioneer sent my car away unsold and it was only just short of the reserve, so I approached him and asked why he didn't sell it as the price bidded was so close to the reserve and he said . . . "
there was only me and you bidding on it Eric."
So, for anyone thinking they have the system licked, think again, only practice makes perfect!!!

Hi,
I agree with Blink you will find all properties for auction on the Municipality sites, but you might also find them in other places but where I don't know the other problem is a lot of the Municipality web sites won't translate so that make it almost impossible unless you can read Bulgarian?

Hi There,

It was said in the newspapers that people who can not cover their month installments for a bank loan increased up to 20 %. But may be the persent is higher based on the fact that there are many people who pay their installments but with great delay or soon will loose their jobs. In that way the per cent of the bad loan will increase over 20 %.

All this makes bank to try to sell the properties they repossess on auctions to try cover the loans they granted. Of course they do this on the lowest price to get their money back as soon as possible.

Links removed by Admin

BulgariaLawyer wrote:

Hi There,

It was said in the newspapers that people who can not cover their month installments for a bank loan increased up to 20 %. But may be the persent is higher based on the fact that there are many people who pay their installments but with great delay or soon will loose their jobs. In that way the per cent of the bad loan will increase over 20 %.

All this makes bank to try to sell the properties they repossess on auctions to try cover the loans they granted. Of course they do this on the lowest price to get their money back as soon as possible.

Links removed by Admin

This is sad news for the Bulgarian people, a situation very similar to what is happening in the UK, nevertheless it is awful for anyone to have their property repossessed.

Well,

Some of the Bulgarian are just too gready

And please Admin don't remove my links, when you offer such possibility links to be put :):). When you offer such possibility why you remove them ? There is no sense what you are doing.

Link removed by Admin

Please read the rules here viewtopic.php?f=2&
t=1

9, Advertising:
Please introduce yourself before posting anything!! Please don't post advertisements or Links on the forum just for the free space Any threads or posts that advertise a product or service will be deleted, in addition to this if it's deemed that the poster has no intentions of using the forum for any other purpose? ie not prepared to contribute to the forum by means of posting, then any form of advertisement will be removed to the BIN, or deleted.
Don't post LINKS ! unless you have asked Admin for permission, your Website can be accessed via the WWW button or the Members Websites section, Only (1) property may be advertised at any one time "
For sale"
.

Why don't members read the rules before they start shouting their mouth off

cowshed-sarah wrote:

Why don't members read the rules before they start shouting their mouth off

Well said cowshed-sarah we do live in strange times. Some of the forums here in Turkey forbid any advertising unless the forum member has completed 6 months membership, this may seem rather harsh by some standards but it does keep the riff-raff away!!

This is very good property in this area so everyone should going to buy this property at any cost PLEASE READ THE FORUM RULES BEFORE POSTING LINKS property guru suggested to buy such kind of property.

The above has been Edited by Admin