Reliable Estate Agents?

No I would not recommend Yantra homes, not the best attitude.

Hello
Do you know anything about Bulgarian property finder ?
They are based in Ruse.
I bought from them late 2017, paid cash, I keep asking them for my deeds, but they don't reply.
I feel they have scammed me, the house I bought from them is still on their website.

Is their any one I can speak to about this, I really want my money back.
I feel so stupid.

Yeah, if you paid cash and they never gave you a deed it seems like you got scammed. Do you have any kind of signed agreement from them? If you're lucky, that would hold up in court. Otherwise you are out your money.

The only thing I have is the bank statement that I paid them the asking price.
I will get over it one day.!!

That does sounds really bad...

I just bought a house in Boyana/Sofia and have found the absolute best agent here. I went through the process, end-to-end from finding a place, securing a mortgage, filing the paperwork to switching over all of the utilities. My agent literally went to every appointment with me, spoke perfect English, was available at all times and made a difficult process - dare I say - easy. I'm just starting the learn Bulgarian and without her, I would not have been able to complete the process.

Petya Nedkova
***

Wow I'm glad I read this, I was just about to pay a deposit to Bulgarian property finder on Monday. I contacted them about one property but the roof had come off, so they tried to sell me another which was advertised for 7500 for 3500 cash +500 commission and 500 fees. told them wanted monthly payments and was told it would be 946 extra over 2 years. I almost agreed and they are sending me bank transfer details tomorrow. After conversing I went on you tube and the photos are 4 years old. Definitely one to view in person before deposit gets sent I think

anyone ever heard of unihome [dot]bg?
they are based in burgas and offer aprtments in residence buildings for rent/sale, that are (yet) to be finished constructing.
couldn't find any info on them on google, and their website doesn't reveal much either.
seems kinda fishy, but also kind of interesting (if legit)

They look complety legit and there is info enough on their site. You should visit their office for more information.

Ramses K. wrote:

They look complety legit and there is info enough on their site. You should visit their office for more information.

and where on their website do you find information about a registered company? or maybe since when they exist, what kind of expertise they have..etc...
i would find that relevant if i want to get into business with someone that involves large sums of money

Well like I said go to their office or call and ask them for the an suitable answer.

Hi All,

I am new to this and have a Property in Chepelare, Smolyn I would like to sell. I am a bit lost as to best way to do this. Does anyone have a recommendation for agents in this area.

Thanks

Chris

@chris walshe Why don't you sell it by yourself?

Otherwise just post it open not exclusive so many agents will try to sell it and you have more chances

Hi All , I Interested in Highly  recommended Estate Agents in Bulgaria . I am looking to purchase a property with one who is saying because I am a UK Citizen / hold a UK Passport . I may not be able to own / make a limited company and or bank Account , this is not guaranteed . I do have an EU residency permit and my husband is an EU Citizen . I have mentioned this during chats with this agent . They are saying they have a way around it and how they have a company they can transfer to me to be able to proceed  with house purchase . They have given me a cost involved and say it will be signed with their solicitor in front of the notary . This Company sounds like  like a shelf or ready-made company.  I have not replied back as yet as thought I would ask in this forum , for any imput before I proceed . I am coming to Bulgaria second week of April , flight is booked . Thanks

Copied and pasted part of the reply from The Estate Agents ...****  You need to open a collective bank account and deposit the company capital in it. This is one of the requirements to be able to register a company. Currently all banks do searches on foreigners and you pay a fee from 50 to 200 Euro  ( nonrefundable ) and wait up to a month for the bank's response. They can also reject you as a client.

You can avoid this by having a company first and buying the properties directly with the company.

We have a company that we can transfer to you. The cost is *** Euro. What needs doing is signing of papers in front of a notary and our solicitor submits the documents at the court. Within 3 working days you become the company owner and will be in a position to proceed with property purchase.

I hope that helps, ****

@Completely Bulgared

Hi , Did you have dealings with this agent , Yantra Homes and it didn't work out ? Is this why you say not the best attitude ? ...

@LoveActually

You need to bear in mind that there's no such thing in Bulgaria as an "estate agent" in the way it's understood in the UK.  There are only property brokers here, and there's no accreditation or regulation of the people in the industry; if you get conned or ripped off you're unlikely to get any redress.  There's also no shortage of lazy/useless lawyers, and again there's not much chance of any come-back if they do a sloppy job or let you down in any way.

As a, presumably, UK (ie non-EU) citizen you can't own a house in your own name but you can own a apartment.  With a Bulgarian company, you still can't personally own a house but the company can.  Be careful buying an existing/off the shelf company as it may have existing debts or other liabilities; you're better off forming a new one from scratch, just to be sure.  You also need to be absolutely sure that living here is what you want to do: many new arrivals find out after a few years that life in Bulgaria isn't what they thought it would be; they usually end up selling their newly-renovated property at a loss and wishing they hadn't let themselves get carried away.  It can be a good life here, but it's not everyone's cup of tea...

@Jimj

Thanks for your reply .

Yes , I thought about the possible problems  ( debts etc ) with an existing company , I have no knowledge of , not even been given a name of this company ( that they could transfer to me )  to be able to check The Bulgarian Register . I used to work as an accountant privately and have knowledge of limited company set-ups in Uk . As you say Estate Agents in Uk are totally different to those in Bulgaria . I found it strange that this company would suddenly come up with this type of offer ... Perhaps they think I am totally niave to what could go -down ...

@LoveActually

They're probably on the level, but you'd be surprised/horrified at what can come out of the woodwork here.  It's not unusual for property brokers to have ready-made companies sitting on the shelf in order to sell to non-EU nationals, but personally I wouldn't go that route.  If you don't already know, you are also likely to end up paying over the odds for electricity, and possibly other utilities, as you'll get the commercial property rate rather than the domestic tariff. Depending on which electricity company supplies the area in question, you MAY be able to talk them into putting you onto domestic but don't rely on it - and you don't get to shop around; each area has a monopoly supplier.

When I bought my property, the agent set up a new company and company bank account for me in my chosen name (for a 500 EUR fee) and it only took two days. I arrived in her office around 11am one day and she called around 3pm the following day to tell me that the company was now live, and gave me the number so I could check it myself on the register.

I would be a little wary about why this agent is pushing you to buy a shelf company, though as Jim says, some do to speed up the process.

The only good reason I've heard of to buy an existing company rather getting your own is that when non-EU citizens who own property via a company sell their Bulgarian property they may choose to sell the company, with the house as the company's sole asset.

@JimJ

Thanks for your reply . I very much appreciate and value everyone's imput , especially when I see how many of you have been living here a long long time and so have much personal experience of how things work in Bulgaria ...

Yes I am thinking not to go that route . Something seems off . They want 715 For this Company and I have no details of the name or anything ...

As for the Utility Tariffs that is interesting to me . I have thought about costs involved if a property had to be reconnected as well as name changes due to new owners  . I didn't know that they could possibly try to put a domestic  property onto a Business Tariff  is this because I would own the limited Company / The Property House and Land . So a limited Company is viewed as a Business ( Rate ) Tariff , rather than a Domestic rate . Are there  standing charges to pay if the property is empty and or disconnection charges ? 

@janemulberry

Thanks for your reply jane .  Can I ask how long you have been living in Bulgaria and where you are ?

Yes , something seems very off about the shelf / Ready made company they are all of a sudden offering me .

Also the amount of time to open a Bank Account , fees I know they would want but ...

Just to let you know I have booked a ticket to fly over 11th April ... I have left it open ended and have booked some basic provisional accommodation ( no payment made for this yet ) ...

@LoveActually

It's been a while since I bought a new property but IIRC there's no charge for reconnection per se as the seller is required to show that the utility bills have all been settled on the day of the sale and any new charges are then down to the buyer, so the supply isn't actually disconnected.  As regards water, make sure that you turn off the water and drain the system down if the property will be unoccupied during the winter   - it can get very cold in BG and the insurance won't cover you if the property is empty/unheated.  You should also be aware that you own the water meter, even though it's installed (and sealed) by the water company.  If it freezes it will almost certainly be damaged/destroyed, and you'll need to pay them to supply and fit a new one - make sure it's well insulated if it's outside the house.  You'll need to bring a copy of your Notary Act (basically the Title Deed) whenever you ask for a utility, or the municipal tax etc, to be transferred into your name; likewise when you apply for a residence permit.  It's always a good idea to have a copy with you whenever you deal with officialdom of any kind and need to show where you live.  You will, again IIRC, be charged for utility connection/disconnection.  Internet connection is normally on a contract and they likely won't disconnect/reconnect you; TV normally comes with the internet connection and landlines nowadays are pretty rare in domestic premises (and many companies also!).  Internet/TV is pretty cheap and VERY fast, even in most small villages - some of the latter in very remote areas have Wi-Fi internet but it's still pretty fast and puts my old village in Lincs to shame in that respect.

@LoveActually

Unfortunately I don't live in Bulgaria yet. I'm in the process of renovating our old village house in the north-east, and I'm waiting to reach retirement age so I can get my D visa and we can move. We're getting impatient though, so I may talk to an immigration lawyer about our options for moving sooner.

As far as I know, there aren't standing charges for electricity or water, or if there are they are extremely low. I have had a small electricity bill most months, but I've either been in the house myself or had builders or neighbours there doing things that needed power.

The business rates for electric and water - yes, they can charge business rates as the property is owned by a business, but depending on the region, I understand they may change it to domestic rates when asked,  provided the company only has one property connected.

I just reread your original post and see you mentioned that your husband is an EU citizen. He would be able to buy property as a private individual without needing a company. Jim will correct me if I'm wrong -- I read somewhere that married couples MUST jointly own property, one can't buy a property on their own, the spouse's name must be added. I don't know how that works when you're not an EU citizen, but it might be another option to save the hassle with a company. If however you want the property to be solely yours, a company would be the way to do it.

@jimJ

Thanks for your reply .

I lot of information there too . Really grateful .

@Janemulberry .

Ah ok , I thought you was already residing in Bulgaria .

May I ask  when , where you bought in Bulgaria and if you bought with an agent , who was it / The company name ? So your Bulgarian Property needs some updating then and this is why you pop backwards and forwards to see how things are progressing and obviously some utilities will be used for renovations and simply staying there for a short while .

I can imagine you are impatient to make the final move over . Although you are busy with renovations in Uk , you at least seem to be aware of your options to perhaps speed things up .

Yes , my husband is an EU Citizen . He is interested in my plans of course , although he isn't Bulgarian but has some knowledge of the culture and history as he says it is similar to his mother's / grandmothers who were not born in his country of birth , although they are European too .

I had a reply from an agent for a property I was interested in and mentioned my husband was EU Citizen and I have an Eu residency Permit and Uk Passport . He suggested my husband buys the property and said he has to by Bulgarian Law have your name on the deeds , even if you do not pay one cent ( Euro ) on it ..

I showed my husband his reply and he had to laugh at it ...

I appreciate your input too Jane .

Best wishes from Germany 

@LoveActually

You (and Jane) both need to talk to a competent* Bulgarian lawyer regarding spousal property rights. I can't recall if a spouse's details actually do HAVE to be on the notary deed or not but, either way, they will have ownership rights to a share of the property. However, it may be that the extent of those rights is greater if their name does appear on the deed. What that means is that if your spouse's name is on the deed then they own an equal share, even if you later separate or divorce; if their name isn't on the deed, their implicit ownership rights die with the marriage. If they die after the marriage is over and their name is on the deed, any children they have (regardless of whether they're also yours or not) will automatically stand to inherit their share or part of it. So you need that "competent" lawyer to advise you on the current state of the law and how you protect your interests, especially if you have separate finances and/or one of you is paying the major part of the property cost. Not getting things right can prove traumatic/costly years down the line.

There's also the topic - important (albeit often overlooked) at any age but even more so as one gets older - of having a will, but that's a story for another day...

Get a translation of any documents you're asked to sign - you can use Google Translate unless you want to hire your own certified translator (they're pretty cheap and you'll need one for the signing, see below). Never forget that it's the Bulgarian version that you'll be signing and any translation you see has no legal status whatsoever; you'll need to either demonstrate to the notary that you're competent in Bulgarian or have an acceptable translator translating what the notary is saying when he reads out the notary deed like a verbal machine gun. You're better off not using the lawyer as a translator, just to be on the safe side, even if the notary agrees to it - and use any English version of the deed you have to compare what's being said with what you think is in that deed. Check names, dates, property details etc  carefully as the notary is reciting them, and don't be afraid to interrupt them in full flow if you hear any mistakes: getting the deed changed afterwards is time-consuming and costly (and will be at your expense, since your signature signifies your agreement to what's in it). Moreover it's likely to involve you trying to track down the seller(s) and asking them to kindly attend a new signing at the notary's office - and of course they'll be under no obligation to do so for free, or at all, even if you can find them. Mistakes in notary deeds aren't too uncommon (don't ask me how I know that!) and not all notaries are competent or even honest. Also make sure that the skitsa (cadastral plan) corresponds with what you think you're buying. Once you've signed the notary act, the property that's described in there is yours, even if it's not what you thought, or were told, it was. Property frauds are less common than they were years ago but they still happen, although they're much more unlikely in low-value transactions - but no-one's immune to plain old screw-ups.

*In Bulgaria - or anywhere else in the Balkans - it's dangerous to assume that all lawyers are ipso facto competent - or even honest/trustworthy. I can tell you stories of foreigners who made that assumption and lived to greatly rue the day.

I was ripped off by our estate agent in 2017 but I've learnt my lesson. Won't be using them again.

@GuestPoster064     can you ask bank for your money back fraud dept they may help you

@geoffreywebb21

I guess that you're fairly new to BG? I have to admit to a good belly-laugh here: the idea of a local bank caring about any fraud, apart from one perpetrated directly on them, is a very novel one....

@LoveActually

No, I don't live in Bulgaria yet, so you're wise to pay more attention to information from those who do, like Gwyn and Jim! My information is purely based on my experiences buying my village houses via a company, part renovating one, visiting regularly, and researching what we need to do to get residency.

I've wanted to move to Bulgaria since 2013, and we've visited numerous times. For various reasons I didn't end up buying a house till just before the Brexit cut off date, a cheapy village house needing a great deal of renovation bought on ebay on pay-monthly from Bulgaria Direct sight-unseen. I bought it to get residency under the old rules, not to live in, with the idea we'd get something else in or very close a town (hubby is a townie) and that old place would be my village retreat. Then in one of those impulsive moments, I bought a second house in the same village described as having "a sound roof and needing no immediate work" to use as a base while renovating the original house. Apart from an extremely optimistic (incorrectly so!) description of the condition of the second house, Bulgaria Direct have been great to deal with, providing fab assistance with the property purchases, setting up the company, and the transfer of ownership, as well as dealing with property taxes, utilities, etc. Danislava, who handles all the admin, is an excellent and helpful person with a lovely attitude and fluent English.

Unfortunately Covid travel restrictions and hubby developing a serious health issue (now mostly resolved) meant I didn't apply for residency back when I could have gotten it under the old rules, or we'd be living in Bg now. As it happens I love the region, the village, and the neighbours where I bought the cheapies, plus prices in the towns and cities we were previously looking at rose dramatically. So we've decided to make one of the village houses our permanent home. Even townie hubby likes it there.

For now, I'm waiting it out to get my retirement D visa in a few years. In the meantime, I visit Bulgaria as often as I can to work on the house myself and arrange for more renovation work. It's in a small village in North-east Bulgaria, Dobrich province, a very rural area.

Jim raises a very good point about joint property ownership rules and complications if a couple divorce. I'm not sure how that works when a company buys the property. The company is in my name only, the company owns the property. I've assumed if I predecease him the company and my other assets would automatically pass to hubby, as we're both childless. But we'll need to get Bulgarian wills drawn up as well.

@jimJ

Thanks once again for your detailed reply .

A lot of information there for me to consider and take further advice on ... although I do not think my husband has any intention of doing the dirty on me in anyway ... For clarity it is good to have things in writing legally .  So basically the documents / title deeds and company documents are in Bulgarian and a translator is required when you go to sign the documents with the Notary . Is this correct ?

I am coming over on 11th April , One -way flight booked and provisionally booked some basically accommodation .  I have a few place I want to look at with a few agents , so trying to avoid dodgy -ones for obvious reasons .

@LoveActually Yes, you will need an "official" interpreter, i.e., not just someone who knows both languages.

@Janemulberry

Thanks for your detailed reply and clarification of who / which Agents you used , Bulgaria Direct . Where you bought , Dobrich which is not too far from The Seaside , so although you are rural you have a best of both worlds by the sounds of things , although you are still renovating , you knew they were basic properties that needs extra funds and time doing them up to what is acceptable living accommodation for you , although the second one will need a bit more spent on it by what you said . It's good you have good neighbour's there , I think this is something of great value , especially when you are not living there full -time at the moment , for reasons you previously mentioned .

I am the towny  ( born in the uk capital ) and my husband is not  ( born in West Germany , small village ) . Although his family left there when he was 6 and moved to near the  Czech Border after his mother bought a huge Luxus home at a fantastic price in those days , as she needed to travel for the various companies  she had / some still has  . I have lived in many places in Uk and can adapt to changes of location pretty easily . I have been in DE a few years now . My husband  is interested in my plans and trusts my judgement but says I must ensure I use a personally recommended lawyer and I should contact my Bulgarian friend in Lovech to see what she thinks as well as commenting on this forum / asking questions here .  See what ex-pats / peoples experiences are / have been and pay close attention to what is being conveyed . Experience counts he said .

I myself have wanted to invest in Bulgaria since around 2007 . I got to know a few Irish and English people  , who were builders , who had gone over to buy cheap properties to renovate and keep as investments as well as flip and sell -on , in as short a time as possible , Some they just did roof renovations to and or new electrics / inside toilets / showers / bathrooms . Left the new owners to decide new kitchens etc  They had to make Companies back then to purchase in 2007. At one point I was asked if I wanted to join one of these companies , buy-in so to speak . I was tempted ,as the guy was my neighbour's dad and he was trustworthy , however shortly before I was due to book flights , Her father's second marriage relationship fell apart and he was unable to focus on what we had discussed due to the complications and his wife , insisting on being paid out of the company , wanting her-cut / share as soon as possible . There were a lot of properties purchased , some were ruins for a few hundred pounds but value was already up due to areas were they were purchased and prices had increased massively although no work had been done ... There were also some Spanish Properties  he bought , similar conditions but that is another story ...

I am glad to hear that your husband is fully recovered and is open to staying in the village you have both properties in . Adaptation to change is always an asset . The Covid 19 and Brexit restrictions were a bit of a nitemare for many Uk Citizens , This is an understatement in many cases . I don't think a lot of people  realized the financial implications for British Citizens at all . Let alone when The Country was basically closed in December 2020 . No flights in and Out . Channel Tunnel Crossing Closed etc . Unless you knew someone who had a private plane , then this was a different story I was told . ..

@Sogy

Thanks for your reply comment / clarification .

@Kath948381 

I am sorry to hear that .

May I ask who the Agents were ?

@LoveActually

Things have changed a lot since 2007!

If I'd known hubby would recover well enough to move and just how restrictive the new visa requirements would be, I definitely would have pushed harder to get in under the old rules. Silly me to assume they'd have  digital nomad style visa for those earning an online income. The freelancer visa is not at all the same thing, unfortunately.

I hope you find what you are looking for. Prices are all over the place. In the village my house is in, there's a completely derelict ruin for sale for 1000 EUR, the land value. There's a similar ruin on the same amount of land priced at 10,000 EUR. And the same place might be listed at different prices in different places - a house for sale for 6700 leva on imot.bg is listed with different agents for as much as 15,000 EUR!

I'm sure you've been checking multiple agents' listings to get an idea of what an appropriate price to pay might be.

@Janemulberry .

Thanks for your reply .

Yes , things have changed so much since 2007 , for sure . 

I do hope you find a way to get your Visa in Bulgaria , sooner rather than later .

You will have to investigate all the ways to ensure you  can proceed .

Do you mind PM me where you are Jane ? I am open to most areas and Dobrich for obvious reasons appeals too . I am looking at some places in VT and am interested in some in Dobrich too and Sofia Province ...  As you say prices are all over the place . I have seen this myself with things I was interested in viewing , huge price differences with different Agents ...

I have a one-way ticket , flying -in on 11th April ....

@LoveActually

It's not really a question of Him Inside doing the dirty, but more that Fate can bowl you a googly when you least expect it. People can suddenly become ill/drop dead etc and suddenly all bets are off. 

As an example, a great friend of ours bought an apartment with her own money but decided that True Love means that you share everything equally, so she insisted on putting the property into joint names with her hubby. A couple of years later, hubby becomes dangerously psychotic and she literally had to run for her life, leaving everything she owned in the apartment, apart from the clothes she was wearing.  BG courts/police are absolutely useless (even more than usual) in such cases and hubby continued living in the apartment for the next 25 years but paying none of the bills or taxes.  Our friend was taken to court several times by the utility companies and council, all without even being informed since the authorities claimed that they couldn't trace her - completely untrue, of course, especially since the court bailiffs had no trouble in turning up at her place of work with a court order for an attachment of her earnings; you can imagine how embarrassing that was for a professional person!  She ended up paying all the bills for the property that she couldn't even go near because of the danger of injury or death.  Just to cap it all, when he died in the apartment (and wasn't found until the neighbours complained about the smell) his cousins inherited "his half" of the property that she alone paid for, and she had to buy that half yet again - this time at a much higher price.  You also can't even begin to imagine what the place was like inside after never being cleaned for a quarter of a century - he clearly had never taken a shower in all that time, as the cubicle was literally full of the scariest floor-to-ceiling spiders' webs you've ever seen.  The toilet was also totally indescribable - and he was a chain smoker and had become an alcoholic to boot....

So, yes - sh*t happens, and with a vengeance!