If you wish to invest in property in Bulgaria, I would strongly suggest you to
deal with only the major players on the Bulgarian real estate market, such as:
Adis ltd. Adis.bgAdis.bg - property (http://www.adis.bg)
Albion Ltd (I don’t remember the exact url – verify on google)
or
PremierApartments – Premier apartments -Property (http://www.premierapartmentsbg.com/bulgaria-property.php)
I’ve recently lost a significant amount of money because of the incompetence
of one small real estate agency in Sofia.
Also hire a good attorney and ask him to check thouroughly all the documents.
Don't get attracted by low commisiions offerings like 0.3% for example, because
that means that this company is simply not doing all the necessary property background
checks. You could loose all your money in a single deal.

Absolutely agree and good advice, Screener

Only deal with the long standing and reputable agents in Bulgaria - longevity says a great deal! Although that is not to say that new agents are not good; but always check everyone out - do the same as you would do in Britain.

Quote : I’ve recently lost a significant amount of money because of the incompetence
of one small real estate agency in Sofia - End Quote

I'm really sorry to hear of that, it is very sad. I hope that doesn't mean you won't consider buying here in the future though. There are many reliable agents here so I hope you will still continue with your searches. This kind of thing has happened all over the world, Spain, Portugal, Spain, etc... and now it is happening here. I suppose when the overseas markets interest themselves in an area which is new and undeveloped it will happen - not that I am wishing to excuse this kind of behaviour or work ethic.

We very much want to inform the overseas market about Bulgaria, getting property here, investing here and even living here. That is exactly why we set up our company - to better inform the english speaking market across the world about buying property and investing in Bulgaria. We are independent publishers, not at all tied to nor form part of any estate agents, construction company, or any other entity. So, hopefully, we can provide people with sound and accurate information. Plus we live here, so can add from our own experiences of the country!

I feel dreadful that you have had this experience and I don't really want anyone to have gone through this and feel bad about this lovely country. If you would like to email me (given that you may still be interested in Bulgaria) I would be happy to send you 12 issues of our monthly printed magazine free of charge. Do let me know please. My email addy is info@questbg.com and I really hope to hear from you soon.

All best wishes
Jain

Hi

The previous poster who mentions Longevity has a valid point, But as a new agency I would like to share my experences.

To any Mods that read this I hope I don`t overstep the mark by Blatant advertising, If I do my apologies.

My Experiences really began in September 2005 when on holiday in Portugal at a Villa. My son and his girlfriend came over and during a conversation about next years holidays Bulgaria was mentioned. I listened to what were said, asked questions, Then on Xmas day over Dinner informed my family that next year I would buy in Bulgaria. They smiled, asked me to pass the cranberry sauce etc then moved on.

By the 5th of January 2006 I had bought my first property Sight unseen, and by the 10th of January My second, and on the 14th of February 2006 arrived in Bulgaria.

My intention was to buy a house for my family, primarily my children so we could holiday somewhere new when ever the mood took us.

My first house was an impulse buy in Pleven, which was never completed due to the agents trying to sell me an house with 2 owners, one in Canada that immediately wanted triple the price. My second one was in Ruse (Rousse). This was bought with more of a business reason. There are plans for Ruse (Because of its bridge) that will make the growth of this beautiful city very fast over the next 2 years.

On my second trip there was no hotel booked for me, and trying to reserve a room somewhere by telephone en-route was a little worrying. I asked how many hotels Ruse had and was informed at that time there were 8. This seemed very low, considering the new European highway will lead there, and the fact a new multi-million pound customs clearing port will be built there, This massive influx of people, Jobs, Money etc will mean very large growth and mean that many people will need the accommodation that at that time Ruse was unable to offer, So? Now all my plans and thoughts changed.

There are also other issues that made me realise from a business point of view that this was the place to be.

Ruse will begin using the Danube for container shipping, making imports cheaper and faster, Renault has just bought the largest factory there to make car parts. Coupled with the fact that Ruse is known as Little Vienna, Having been designed by an Austrian architect, Is very beautiful and safe this was now my base for a new business.

The drawbacks were Bulgarian agents. I know they are not all bad, but I was unlucky, the stunts they tried to pull were amazing, Lies, Deceits and downright stealing monies from the English, and possibly other nationalities.

So going back a little to lack of accommodations my plans began, there was an obvious lack of Hotels, so I now have one, albeit quite small, but fitted in perfectly of my 2nd plan of becoming an Independent British real estate agent. I now have a place where my clients can stay, My own offices, Staff that was carefully chosen and all the latest technologies (One agency who approached me had no car, no camera and just a mobile phone).

I have land where we are developing a campsite, Land where we are building a motel, I now have my own renovations team, a car hire company, a garden centre is in the plans, which will include landscaping and there are other projects we are considering.

I’m not mentioning all I have done for some form of praise, nor touting for business, simply to let others know that there is another choice within Bulgaria that has real potential away from the Black sea coast.

I wish everyone who tries Bulgaria the very best of luck, and if my experiences can help anyone I offer my advice and help free of charge, If you have worries or problems we will do our utmost to help, and in many cases can solve these problems for you.

I am proud of Being British, and even prouder of being English, and the fact that some people, and as said not all, blatantly overcharge for services etc means they have created an opportunity for me and my family to build a business that fills an obvious gap, Built on integrity and honesty and something that was created by me to one day give to my children.

Sorry for rattling on but I feel quite passionate about Bulgaria, and due to the fact that in one year, with only 20 weeks spent there in actual time, I wanted to sing the praises of a small city in Bulgaria that due to hard work and commitment has become a life changing experience for both me and my Children.

Best Regards

Steve

absolutely agree. initially me and my wife put some deposits for a flat in Bansko, then lost deposit. later decided to use an independent lawyer prior to the deal - guys were good and seem to be the only having uk registration with the law society and proper indemnity insurance - dynamic solutions lawyers, however the end was we pay part of their bill, they sorted out the next development for free and we bought nothing as all were dodgy. hope this year we might be lucky, but remember - do not pay money unless spoken to your own lawyer.

Hi, guys!
I totally agree with you. After all it's not very hard to understand that any agent works for himself or his company.
In my opinion you should consider finding an INDEPENDENT solicitor who will be able except all legal support advise you on certain developers’ reliability.

You guys are right. I just read another post in this forum by someone who became subject to property scam in Bulgaria (http://www.bulgarianventure.com/). This is really hurting the real estate scene there. My uncle owns property in Bulgaria and also a colleague has recently invested there. They have used a rathter small Bulgarian property (http://www.bulgarianventure.com/) agent, but I think they acted on the advice of some Bulgarian friends or relatives.
If you don't have people who know the market and the agent well you should definitely only go for the big players that have been around for some time and have a good reputation. As the real estate market in Bulgaria is booming currently there are too many fraudsters around that are just waiting for foreign investors to fall into their traps.

@Steve: thanks for sharing your story. Good luck with your business!

Hi everybody,
I understand your concerns,but can't say I totally agree with you.I own a property in Elhovo for 2 and a half years now.It's a small town/became popular last couple of years/,1 hour drive from Bourgas and the airport and I love it,it's so quiet and peaceful and there are a lot of British that live in the villages nearby.I rest very well there and if I want to visit a congested and noisy place just get in my car and go.But the main reason I wanted to answer you is that I bought the house from a smaller agency in the town,the owner is a very nice englishman,we are good friends now and I visit his office every time I can and meet other english people there that are happy with their properties and the agency they chose.Here is his e-mail address,if you are interested, managebg@gmail.com.

Lyn