Im Going In......!!! Some Advice pls.

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joncheshire
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Im Going In......!!! Some Advice pls.

Postby joncheshire » Mon May 08, 2006 2:17 pm

Hello all!

Been a while since i posted and thanks to many who have helped me, especially Caroline in the past.... :wink:

On the 25th May, i am off to BG for 4 days / 3 nights to view a shortlist of properties in the Pernik / Kyustendil regions South of Sofia. On paper, i like the way these places read (close to airport / city etc.) and have pretty much settled on it as an area i will invest in (unless it is dire when i get out there!!! 8O )

I have set-up my company out there and the money is sat in the account which will pay the 10% deposit required. I will also top it up a bit more to cover the costs of stamp duty and the like.......

Do i then pay the remaining 90% upon completion 4 weeks later? Is this the done thing???

I am viewing my 'favourite' (on paper / pictures) 2 properties with one agent who i have used to set up the company etc. and who have been briliant all the way through. I also have a list of 8 properties with another agent if i dont like the first 2.

I am using the solicitor from the 1st agent. I assume this is ok - it certainly has been up to now with the company registration etc. and i trust the agent 8)

So, as a final note, can anyone offer any additional advice at this stage? It would be much appreciated! Even down to the best way to get from the airport into sofia......!!!

Wish me luck :D :D :D

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carriemc
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Postby carriemc » Mon May 08, 2006 2:23 pm

Hi Jon

Hope it all goes well - now that you are finally getting over there.

Rest of house purchase price is payable on completion, can take anything from a few days to a few weeks.

Good Luck!

Caroline

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joncheshire
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Postby joncheshire » Mon May 08, 2006 2:27 pm

Thanks Caroline! Thanks for all your help....... :wink:

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Mat
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Postby Mat » Mon May 08, 2006 2:50 pm

Forget Pernik town - its a horrendous pit of post industrial decay and collapsed heavy industry. Same with Radomir. Its very nice in the mountains between there and Kjustendil and also between Kjustendil and the Macedonian border - but behind God's back and very isolated, especially in winter.

I'm curious - you say 'invest'. Are you expecting a rental or capital appreciation as a return?

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joncheshire
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Postby joncheshire » Mon May 08, 2006 3:28 pm

Hi Mat,

Most of the places i have seen lie within 10k's of
Kyustendil. There are some on my 'reserve' list in Pernik. If its that bad, i wont be buying there!!! :lol:

In terms of investment, it's just a long term (min 10 years) 'gamble'. €20,000 approx to get me a place to spend a few weeks a year in, summertime probably, let my mates and family use it for skiing at Tri Buki (i dont ski...... yet!!) and just to let it grow in value (if it will.....!)

If it all works out, i will have had a nice time using it and doing it up over the years. If not, i will only have lost the money that i would have lost in 3 years by buying myself an expensive sports car over here (what i was going to put the money towards!!). Any rental income is just a bonus.

Thanks for the info on the areas.

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Mat
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Postby Mat » Mon May 08, 2006 3:40 pm

OK, fair enough. But remember foreigners are few and far between in that neck of the woods so you should be paying peanuts for the house. Any more than 5K euro for an average village house in need of non-structural work and the agent is shafting you. Watch recent repairs as they'll put a coat of plaster over a dog's breakfast. Quite a few gypos down that way (there's a big camp on the edge of Kjustendil itself) so make sure there is someone in the place to watch over it or you'll be replacing everything each time you come. Its the cherry growing centre of the country and lots of fruit. Never heard of your skiing place (Tri Buki??) which is I suspect a disused place dressed up by an agent - there's no skiing in the region. Nearest is Bansko or possibly the back way into Borovets - in any event too far to be practical from Kjustendil.

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joncheshire
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Postby joncheshire » Mon May 08, 2006 3:47 pm

Hi Mat,

There is a small hotel up there and a few runs. Also some chalets etc. as read about from various links off Google, nothing said to me by Agents.....

http://tribuki.com/index.php?language=en&p=home

If i dont like the look / feel of the area, i wont be bothering and will look elsewhere :wink:

Cheers.

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Mat
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Postby Mat » Mon May 08, 2006 3:55 pm

Wow, learn something new every day. I had no idea there was any skiing there. Its nice down that far though, about 100kms or 2.5 hours from Sofia.

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dj
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Postby dj » Tue Aug 29, 2006 1:06 pm

just to let you know kyustendil has more ski lifts being built as i speak also a go kart track out door swimming pool , a perfect place for kayaking mountain biking ,para gliding so please less of the negatives about my future home

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schwartzy
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Postby schwartzy » Fri Sep 01, 2006 4:23 pm

Hi, I would be interested to know how you got on as we are going over in October to look at properties in the same area. Thanks


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