First topic message reminder :

This might be one for those who have purchased a property in the last twelve months, though all thoughts would be appreciated.

Because of the downturn in the market in the last few years, and the fact that a lot of the houses have been on the market for some time, we are wondering what sort of percentage of the asking price we should offer. I know (to our cost!) that people are making silly offers and having them accepted here in UK, as any buyer is a good buyer. But in BG, what would you think if, say, the house had been on the market for 12, 24, 36 months or longer? If empty there will have been quite some deterioration I imagine.

In most things, we are inclined to pay what things are worth to us, but thinking of the future, the more we can save the better. That does not mean we want something for nothing. We are looking (and will be viewing) mostly south of VT which I believe is more expensive than some areas, but the countryside appeals to us, and we would rather pay more to live where we want than a larger renovated house with more mod cons than we need in an area we are not 100% with. (Am I making any sense?)

I know we are jumping the gun a bit, as usual, as we haven't even been out there yet, but are planning to drive around as many hours as we can manage when we come out to make sure we are looking in the right area. as usual, we want to know as much as we can.

Over to you lovely people.

Mr and Mrs Eq

Quote :

If there are some major problems then offer less but then is it the right property when there is so much around?

I agree. This is why I suggest making an offer and then waiting to see what happens. The problem lies with the 'gold rush' in Bulgaria 10 years ago. Many Brits thought their 10K investment would bring untold riches..it didn't quite work out that way. At the moment it is a buyers market and there are bargins to be had. I have seen properties for sale where the owners are accepting much less than they paid. Indeed, I have one such property myself were I would accept less than I forked out for it. On the other hand I bought some properties in 2006 that are worth 4 times what I paid back then. For me this is speculating..some you win some you lose.

Something to consider..buying or selling anything is a business transaction and as the old saying goes "
there are no friends in business"
. That doesn't mean that one can't be pleasant or even friendly when doing business, especially where it involves a large sum of money, but there has to come a point where common sense must overule all the other factors. I personally enjoy a haggle when pursuing a sale and usually open negotiations with a figure around 30% below the asking price, quite expecting the counter offer to climb. A canny seller will have factored this into his asking price so as to have room to negotiate, but you would be surprised to learn how many times the tactic has paid off and I've ended up with the goods on the basis of that first bid.

Value has to be determined by the buyer, not the seller.

Quote :

"
there are no friends in business"
. Value has to be determined by the buyer, not the seller.

I have agree with Bgbaz on this one.

Rakiaplease wrote:

Quote :

"
there are no friends in business"
. Value has to be determined by the buyer, not the seller.

I have agree with Bgbaz on this one.

Me too!

I would like to thank everyone for their input, all have valid points and it shows that we are thinking along similar (though mixed up) lines to others. I have to admit that haggling is not part of our natural nature, but we have heard different things from different people.....which , of course, means that we are not really too far forward. We will not be paying more than we have budgeted, as there are only the two of us so don't need a palace. Location is most important, and if we do not see anything which fits our budget and our senses, we will just have to keep coming back until we find the right place.

In an ideal world we would probably rent for a while, but we don't want to use up any of our capital in rent, and are itching to get on with getting some land into production. It could take a few years to get things growing/rearing just right and we are not getting any younger!

Interestingly, we have arranged a few days intensive viewing with an agent, who has sent us some details of houses through which we dismissed as they are a fair bit over budget. When we pointed this out, he said not to worry, they will be in budget! Hmmm....

Mrs Eq

That last part does make sense..agent would have a fair idea of what the seller would really expect to sell for..ie. if I want to realise, say 20,000 pounds from the sale of my house and land, I would have it listed at around 24,500 pounds, expecting prospective buyers to negotiate downwards..it gives everyone room to move, IMHO.

Equinus wrote:

Interestingly, we have arranged a few days intensive viewing with an agent, who has sent us some details of houses through which we dismissed as they are a fair bit over budget. When we pointed this out, he said not to worry, they will be in budget! Hmmm....

It certainly is a buyers market out here at the moment, but that is so about all of Europe. Nevertheless, I believe you will see a property that takes your taste and take the appropriate financial action to buy it at a price that suits you. Finding a village that you want to live in is the first important decision and this will take some time, once you have found an area you like it is fast track forward to find your property. Agents will know what is a reasonable price, although they won't tell you that until you have seen a property and tell them it is overpriced. What reduction sellers make is undoubtedly down to their position financially and if they want a quick sale or are prepared to sit back and wait until they are offered what they want!

I could not agree more. It is more important to find the right area NOT the right house. It's not what it is but where it is that counts

I have posted this several times that it is the area that is important. You can change a house to your needs but not the area. The price is always reflected in the location as everywhere. A village that is safe, beautiful, near big towns with few utility problems will always be more expensive.

When you come to Bulgaria make sure the first thing you do is fall in love with it. If you don't then don't come here to live. Many people that have come and gone because they wanted cheep living but didn't love it.
Location I echo from every reply.
Mountains beautiful scenery very cold thick snow and shut off some times with out electric or water in the winter.
Country side villages that are closing people moving out of them no shops no school etc
Small towns every thing you need
large towns very expensive in comaparison to villages and small towns
Coastal areas exspensive to buy and the cost of living high
When you have found the area you would like go to the municapality ask them for a list of houses they know are for sale ask the mayor and also ask for the valuation. it will be lower then the sale price but it will give you a place to start or you can pay aprox 300 lev and have a valuation done by proper valuers they take photos do a report on the property and the area and value the property
The first best thing you will ever do is to get a qualified translater and take them with you to look at villages towns and property.
Translaters here have to have certification to work they sit exams for this and you have to have one by law to buy a property. Prices vary but the one we use never more then 40 lev a day.
Hope some of this is a help to you
chrissy