£8000 to invest

[C_B_H]

Hi

I need to see the fully options in your contracts and I can give you a ansuare ABOUT THE EXACT QUESTION...In bulgaria have little secrets for purshase a property off plan...many of the bulgarian banks do'not accept mote then 60% mortage when you buy a offplan projects. For purshase offplan with bank finance you have to make the best choise of all of the projects in sofia..The bank will give you a mortage after Certificate 14.
Many construction companies have a partnership with bulgarian banks.If you buy from company like that you do'nt be have any problems and you can get 80% finance.

In your question,I think that you buy a properties without registering a company in Bulgaria.If you want send me more info about your contracts and the project that you are deposited.If I can help you I will be happy.

I am sorry for my bad English

[C_B_H]

It's also not right to advise that these can be easily resold. They can't. There are thousands of them being built, and there's currently no apparent resale market out there, especially for flats.

Gerry,can you explane me what you understant by easy resale....i Just give some facts..

95% ot the offplan projects in sofia are sold before the completition.
every year the population in the capytal are with 80 000 people up.
For the last year the banks in Bulgaria have a 40% grow in the mortages.
The standars of living is with highest grow in the Europe.
If you buy a property with great location from corect construction company that will be the best investment for you in the next 10 years.But if you do,nt have a good Bulgarian Partner you cant buy good property there.The sistem in Bulgaria is not the same like in UK . Here work another moral. If you do'nt make a good investment its only your blame.

THE REASON THAT THE BRITISH PEOPLE DO'NT MAKE A GOOD INVESTMENT IN BULGARIA IS THAT THEY DO'NT USE A LAWYERS.
IF you are good informet Bulgaria will be the nice plece for your investment.

[Gerry Pridham]

Hi CBH,

I agree with your second post. If you would be kind enough to PM me with your e-mail and contact telephone number I will pass it on to my colleague and ask him to give you a call about his funding problem, and for some advice about what his options may be in Bulgaria.

Kind regards, Gerry

[wherestheview]

My advice to you my friend is this.

Take a good look thru all the replies on here. Find a few you like as well as your own and decide on a winner. Use a lawyer and a respected financial arranger to sort out the details and get on with it.

If at any point the lawyer or the solicitor tell you things are not right walk away.

Far better to lose a few hundred with an aborted attempt to buy than lose all of your money in a bad deal.

[C_B_H]

In an addition...

To all british people that want to invest overseas.
Bulgaria i still good plase for investment but you need the rigth partner.It's not true that all of the properties in bulgaria will give you a good deal.The real estate market in bulgaria is born 7-8 years before...He is with about 10 years late from UK and USA RE markets.The prices in Bulgaria will be in grow but only in areas with good goverment investments.YOU HAVE TO BE CORECT INFORMED AND ALWAYS USE A LAWERS IN YOUR DEALS....Do not belive to the builders..Find your own partner for buyin a properties in bulgaria and work with him.If your partner is corect you alwes will be happy from your deal...REMAMBER...ITS MORE SECURE FOR YOU TO USE A LAWYER... REGISTER A COMPANY IN BULGARIA...IF YOU ARE NOT REGISTERED COMPANY , THE BANKS WILL GIVE YOU BAD OPTIONS FOR PURSHASE...

the lowyer charge in Bulgaria is about 20£ per 1 consult hour....Thing about this before you buy something there...the lawyers in Bulgaria have a information sistem and can check for you any construction company for a problems. the charge for that is 18£.

YOU ARE WELCOME TO DO BUSSINES IN BULGARIA BUT JUST BE CAREFUL!!!!!

[Ellen]

Gerry
I might be interested in Spanish property can you be a bit more descriptive?
Ellen

[Ellen]

Sorry my friend! Not acceptable! I formed limited company had VERY expensive Bulgarian Council etc., bought "the location" etc., in 05 this was BIG money. My point is I did not arrive looking for "cheap" deal. Now I have very exp. apt. in "location,location" to coin a phrase!!! which I cannot sell due to "antrophy" on behalf of Agents and Management offer for rentals is a literal disgrace. I have previously bought and sold in other Countries over many years - but alas! this venture has cost me , while I love Bulgaria and it's people I am seriously at odds with the whole system here. Please do not propose me to be a "cloud-thinker" as I am anything but... I work in the field of Promotion, consequently, I am totally aware of the buying/selling situation.

[Investy]

Gerry - thats one of the key points about investing abroad - NEVER rely on there being a readily available mortgage.

I am buying cash which can be a struggle at times, but far better peice of mind if you are parting with big sums up front.

There is no such thing as a guaranteed mortgage anywhere in this world - just look at all the American Banks suddenly tightening up criteria.

Gerry did you know Morocco was the first country in the world to recognise the USA as an independant nation?
Youd be amazed how many Americans are buying all over the place there. Also many Americans are building the new infrastructure suchas ports and roads.

[C_B_H]

Sorry my friend! Not acceptable! I formed limited company had VERY expensive Bulgarian Council etc., bought "the location" etc., in 05 this was BIG money. My point is I did not arrive looking for "cheap" deal. Now I have very exp. apt. in "location,location" to coin a phrase!!! which I cannot sell due to "antrophy" on behalf of Agents and Management offer for rentals is a literal disgrace. I have previously bought and sold in other Countries over many years - but alas! this venture has cost me , while I love Bulgaria and it's people I am seriously at odds with the whole system here. Please do not propose me to be a "cloud-thinker" as I am anything but... I work in the field of Promotion, consequently, I am totally aware of the buying/selling situation

Ok i just tell you that if your apartment is in one of the sea resort in Bulgaria you never will sell it.The same situation is in Bansko and Borovets.
BUT for location I understand place that the people searching for ...place like Sofia. AND NOT ONLY ...PLACE WITH A PERFECT TRANSPORT AND LIVING STANDART...IN BULGARIA THAT IS ONLI SOFIA ...ONLY THERE YOU CAN SELL YOUR PROPERTY ...IF YOU HAVE ANY PROBLEMS WITH THAT ...YOU CAN CALL ME IT'S EASY IF YOU WANT TO RECEIVE THE CORECT PRICE!!!

[Gerry Pridham]

Originally Posted by Ellen

Gerry
I might be interested in Spanish property can you be a bit more descriptive?
Ellen

Hi Ellen,

I can send you my own diligence report. Just send me an e-mail to gpridham@tropwind.com. We are concentrating on one site only, but it's a large site (288 apartments). I already have set up over there a refurb team, a lettings team as part of our S.L. company. Next trip I'll be renting an office and hiring a permanent administrator. I want to take control of the site and create forced appreciation from overdue maintenance in the shared areas of the community.

Regards, GErry