First topic message reminder :

I found this topic on the Internet but it was originally in Bulgarian but you can make it out so have a read its really interesting

Why England do not buy properties in Bulgaria

In most cases, foreign property owners have themselves to blame for lost money

The first reason is the crisis. The second is that Bulgaria went bad name as a place where British and Irish people are scammed. In forums and in the Western press circulated to the complaints of people who lost money in the country. Such stories as "
horror stories"
. In details not vnikva and that buyers are innocent victims, it seems obvious, because our country is known for corruption and iniquity.

Causes

But I already four years working on these same Englishmen and not see it that way. It is true that Bulgaria is corrupt, but the reasons for lost investments are in themselves buyers. Recently, consult one of them what his views are to regain the one hundred and fifty thousand euro. My conclusion was that they had none. Having heard this, he said literally the following: "
Bulgarian legislation is bad, because it protects buyers by themselves."
A similar idea is in sharp conflict with the Roman maxim that the law is sighted, and not sleeping. In other words, if the buyer is not vigilant, is his own fault that he lost money. And these are the same Romans, whose successors in law are both we and the British.
This man had done anything reckless. Had given a proxy to a stranger to pull its deposits from fully and to spend the money as it sees fit. And not only was not considered any collateral, but even contract was not concluded. He was very surprised when he explained that the attorney only grants rights but does not create obligations. So this same Englishman I find no fault in their actions and was convinced that the reason we lost money in Bulgaria.
Another was convinced that he has bought a house and when he realized that it would receive non-built space, wanted to sue the seller. The contract, however, who stood in his signature, was clearly written that only purchased the land, not building. And that contract was written in their native language, but apparently this guy was not bothered to read it.
One woman complained for months on the forums about what a terrible place is Bulgaria, contacted me to advise her how to return the money. After I read the contract which it was concluded, and found no wrongdoing. It happened precisely what was written in black and white.

Mentality

Westerners come from a different world where everything is settled, calm and where the government protect them from dangers such as small children. Once you give money, it is understood that they will receive what is given them. When people buy apartments there, they worry whether they will be not deceived, but what will be the color of bathroom tiles. You can not lose them, for them is so obvious that they never think about the issue of preventive measures. In Bulgaria, these people are like farm animals removed from farm and thrown into the jungle. They are not accustomed to looking and when they hit just can not understand where they come.

Agents

To this should be added that the West people do not do everything yourself and pay for professionals from the field to do the job. In these real estate professionals are called "
agents"
, so their first job, when they decide to buy in Bulgaria is to raise that term in the search engine together with the name of our country. Immediately leaving many companies are called "
agents"
. They can not imagine a world without such people and I see a familiar word, decide they have found what they want. Their assumption that there are agents in Bulgaria is confirmed. If it does not like to go deep into details and explore how it actually is the issue. Prefer to view color pictures instead of reading thick books. Once something confirmed their expectations, you can not help but be so! English in Bulgaria come to buy property with the mood of tourists who are seated to order in a restaurant rather than serious investors. So they expect the menu instead of the book's instructions.

Differences

Under the Commercial Code, however, the country has firms, not agents. The difference is substantial. The mediator does not represent the parties and shall not be liable if one has not fulfilled its obligations to the other. The mediator only them "
svatosva. The deal is between the buyer and seller of the property. He takes money from both sides and thus protect the interest of neither one nor the other. In England, the agent is paid only on one side and he is responsible if its too expensive to sell property or if it lost money in other ways. Therefore, Westerners who have found the Internet entrepreneur who calls himself "
agent"
are left trustingly in his hands. For them, the story ends. They pay him and therefore no need to think about anything.
Englishmen go even further in its stupidity. They rely on the firm erroneously called "
agent"
to them and choose a lawyer. So instead of an independent and competent counsel, they appear to be the most illiterate lawyer who in some cases not even a lawyer. But even is it necessarily loyal to the firm which he found a job, not the client who is. Customers are changing, the firm remains. Customer is a fee, the firm - many fees. Therefore, those dependent on lawyers do what they want the mediator. Collateral no avail, and contracts are concluded in the most rapid and easy manner, which in turn means that the shuffle.

oldun wrote:

I'm glad I live on my positive planet and seem to be happy overcoming some of the s...t that has happened to me and anyone who wants to join me is welcome.

Count me in oldun

oldun wrote:

I'm glad I live on my positive planet and seem to be happy overcoming some of the s...t that has happened to me and anyone who wants to join me is welcome.

My wife (The boss) always says I'm on another planet so I must be with you as well

Sorry you misunderstood the bit about doing our own renovation - I mean we will be personally hands-on doing the work ourselves. We are not experts but our eldest son is a Corgi registered plumber &
heating engineer, he tells us what to use and how to do it. Our middle son has his own highly respected Building company (you should see the amazing stone house he built in Pickering all from local stone he dressed himself, on the client's old quarry site) so he advises us on all building &
drainage matters. Our youngest son is a skilled Joiner &
Roofer, likewise (He has recently been working around Europe creating exhibition pieces including a reproduction Viking Longship). I won't ask them to come out and do the work for us as they have to work hard each with young families to bring up, but they make sure we do the jobs as near properly as unskilled amateurs are able! If our daughter had chosen to be an electrician we'd have cracked it! But she didn't.

In Lincolnshire I personally laid new insulated concrete floors and quarry tiled my 17 x 18 foot kitchen floor, my husband rebuilt the chimneys at two of our former properties and installed all the window frames &
patio doors at our last one and built himself a timber workshop there. He has installed two of our former kitchens and one bathroom, with a little help from our Plumber son. We do NOT plan to do cash in hand renovation jobs for our ex-pat neighbours in case you are wondering! But this is how we control the quality of the workmanship!

Back to topic once more. Maybe another reason Brits are wary of buying now is down to having to form a company to do so. I know its not as difficult as it sounds if you have the right help, but with money tight maybe its one risk too far. Roll on 2014 when the EU stipulate that this must stop. It will obviously cost to get rid of a company but at least we will all own our land as well as house.

Buying an apartment doesnt require setting up a company and majority of Brits were buying beach and ski apartments, no offence but house owners are a smaller fraction - so this doesnt explain why noone is buying apartments at a value 50% down since 2007... pretty strange.
For example 2-beds start from 35000 euro, already at 50 000 euro they are with nice location and nicely furnished in quality developments, this is quite cheap I would say.

from an agents point of view ,,yes they are quiet cheap ,yes .......initially !!
but cheap to maintain ??
complex / maintenance charges ??
flight to get to it ??

things have changed drastically in Bulgaria...and not just the price of the apartment !!

I have to ask .... "
"
It's no doubt at the moment, simply buy and this will bring you a good revenue... "
"


how ? as people can not resale ..and what is more ..renting oppertunities are very low ...according to all the forums !

You buy today and resale tomorrow or what?
Of course, you need to wait for 5 years for the prices to increase...

No idea what forums you are reading but with 20% more tourists expected in 2011, the rental business is actually flourishing.

I had an English couple, they said that 4 hours after posting an ad in a Polish website they already had 3 bookings... if this is bad rental, I don't know what people expected when they were buying 5 years ago, to become Rockfeller by renting or what :)

We have had our property in Turkey for over seven years, it has not been worth the wait of five years here.
This is happening all over the world. Some are lucky some are not. Prices have dropped and people still want to offer you even less.
We were told as young children bricks and mortar is the best investment. How times have changed.

If you bought your Turkish property in 2004, it was definitely 30% dearer in 2007 unless you bought it at ridiculously high price - it's all your fault you didn't sell at that time but kept waiting for even better returns and appreciation.

We only decided to move last year. As some rules for us Brits was making us feel unwelcome.
We have never thought that we would make a fortune on our property. All we would like back is what we paid plus all the extras A/C security bars and furniture and white goods. Air Con units have shot up in price and also metal work has too.
We have never been rich and what you have never had you don't miss. All we wanted was to live in it not sell it. Not all of us are property developers.

Admin, I don't see why people should be protected from being pointed out their own mistakes. I havent offended anybody, just gave my free opinion.

You should surely agree that it's not the best idea to sell during times of recession when prices are down all around the world, so no way one can expect to get his money back, this is very simple economics, cases of the contrary should be very rare.

Anyway, thanks for the advice I would do my best in the future.
So to refrain from blaming people, I would talk from my point of view:
1. I would never buy property in a non-EU country with no chances and endeavours to get in the EU.
2. I would never buy property in a country with radical religious ideas, big religious class problems and therefore unforeseen law system.
No matter beauty, climate, price etc. I should always think rationally and not make such mistakes although life when buying may seem pretty wonderful...

So an advice - if you need to leave Turkey - leave it without selling the property, in a couple of years you can sell it and get your money back hopefully, but at the moment if u manage to do it without losing a penny on it - a once in a lifetime luck it is.

prawler wrote:

Admin, I don't see why people should be protected from being pointed out their own mistakes. I havent offended anybody, just gave my free opinion.

You should surely agree that it's not the best idea to sell during times of recession when prices are down all around the world, so no way one can expect to get his money back, this is very simple economics, cases of the contrary should be very rare.

Anyway, thanks for the advice I would do my best in the future.
So to refrain from blaming people, I would talk from my point of view:
1. I would never buy property in a non-EU country with no chances and endeavours to get in the EU.
2. I would never buy property in a country with radical religious ideas, big religious class problems and therefore unforeseen law system.
No matter beauty, climate, price etc. I should always think rationally and not make such mistakes although life when buying may seem pretty wonderful...

So an advice - if you need to leave Turkey - leave it without selling the property, in a couple of years you can sell it and get your money back hopefully, but at the moment if u manage to do it without losing a penny on it - a once in a lifetime luck it is.

While I appreciate what your saying and yes its fine to offer advice but unless you know the full circumstances you can not on this forum point the finger of blame, there ore other forums that will allow this kind of posting but this forum will not allow it under any circumstances

Quite right Ashley there are all sorts of reasons why people haven't sold at the right time but then again is there ever a right time? lets face it if you sold on the day you thought was right? who knows you may have got more if you had waited and as already said there are circumstances only known to the seller as to why they may not have sold at any given time.