Please, everyone - do be careful about under-declaring the price you are really paying v the price you put on the contracts.

We have just had a dreadful story from one of our subscribers about this - and have just managed to sort it out for him - he nearly lost the house he was buying and much more...

Don't let anyone tell you this is normal practice, this is not!

Best wishes
Quest Bulgaria

http://www.questbulgaria.com

Thanks for letting readers aware to this!

Hi there Admin

Thanks and no worries - we don't want anyone out there to fall into any traps - being Brits over here, living and working in BG, done the move (scarey but exciting all at once !!!).... we wouldn't want anyone else to experience anything bad, that's what we're here for!

I have this problem all the time, visitors to my site regularly email me regarding this issue.

There’s always a simple answer to this. I tell my visitors “Stick to your guns and tell the seller if you’re not interested in declaring the true market price, then the deals off”.
9 out of 10 times visitors email me back saying the owner agreed with declaring the market value.

Don’t forget most of these properties are lying derelict. Don’t believe all hype estate agents give you “if you don’t buy now someone else will ” A phrase that I hear repeated all the time.

All the best

Sinders

www.bulgarian-property-advice.com

Yes, quite right, although in practice it is never quite as easy as that - and from the feedback of our readers, a lot of Bulgarians are walking away from the sale, knowing that there is someone else ready to buy around the corner. Nonetheless, don't be tempted please!

I think what concerns me most about this is a) the legal implications of creating a contract which is null and void, and b) capital gains on re-selling.... certainly not to be recommended!

Jain

Well said Jain.

The BG market is overhyped enough without buyers listening to and believing that old chestnut.

So to anyone thinking about Bulgaria its a case of keep your wits about you, get good advice and buyer beware - caveat emptor!

Jim.

Well said Jain.

The BG market is overhyped enough without buyers listening to and believing that old chestnut.

So to anyone thinking about Bulgaria its a case of keep your wits about you, get good advice and buyer beware - caveat emptor!

Jim.

Too true Jim - buyer beware - I've just read a couple of things on other forums today which have left me quite shocked. One, in their 'free legal advice section', claiming that inheritance law in Bulgaria is like that of the UK - what!? and the other comment by someone saying that under-declaring the price on the deeds just saves you money and means cheaper prices.

Crikey, begs the question, what are these people on and what do they think they are doing dishing out this kind of "advice" !!!!!!

All the best, Jain