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Haggis

not buying from estate agents

Postby Haggis » Wed Jan 05, 2011 8:38 pm

Moved this here as requested buy the powers that be who rightfully pointed out why. Thanks yet again Mods. Your help is much appreciated.

So here are a few questions I would appreciate answers too. Please don't speculate if you have not done this. By all means offer advise though.

1 Have you considered buying a rural property off ebay?

2 If you didn't, why not?

3 If you did, how was your transaction?

We have been following ebay now for a year and have noticed that it is mostly auction properties that sell. Buy it now sales seem to stick around for ages. We have been keeping screen shots of old ebay adverts and are surprised at the amount of re advertising of Buy It Now adds.

My conclusion is that Buy It Now property prices are vastly inflated and the vendor is taking a chance that any potential purchasers don't do any homework.
No reserve auctions will find their own market value so to speak. But with this in mind there are still quite a few sales that fall through and the property gets re listed. Sometimes it goes for a lot more money second time round. Vendor getting a mate or partner to bid it up perhaps??

One thing I wish that Ebay had not removed was the bidding list. Then you could at least do a bit of homework on past listings to see if they were being bid up. Is there any other way to see if a property is being bid up?

Is there an alternative to buying through estate agents? Of course being a Yorkshireman and having short arms and deep pockets also being that tight I wouldn't even give a door a slam Saving every penny we can is paramount

Regards
Haggis n Suzi

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Postby scot47 » Thu Jan 06, 2011 4:58 am

Come, travel around. Invest TIME. You will need some savvy and a reliable Bulgarian-speaker.

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Postby Maverickmemphisboy » Thu Jan 06, 2011 7:31 am

scot47 wrote:Come, travel around. Invest TIME. You will need some savvy and a reliable Bulgarian-speaker.
Scott is right,nothing beats being on the ground in Bulgaria as your starting point.Having said that i bought one of my properties off ebay and so did a friend of mine,and both of us are very happy with our ebay buys.There are a couple of very good companies on ebay,one of which has been trading on ebay for about seven years {ive dealt with them personally} i hesitate to mention them on an open forum in case its against the rules or the mods move my answer to the rea's section but pm me if you want some more specific advice.I would have to add a few words of caution though my friend didnt visit Bulgaria first,he has now...and doesnt like the place...loves the house but now wishes he had visited the country before buying blind as he has had a nightmare getting hold of builders and materials...but then again he has made no effort to learn the language or the basic cyrillic alphabet.

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Postby Oscar » Thu Jan 06, 2011 8:43 am

Private sales that are advertised in local newspapers....narrow down the area you want to buy in and look in the publication that covers that area..like Scot says,you will need reliable Bulgarian people to help you out.Also,tour around the places you are interested in with a Bulgarian speaker to ask the locals if they know people who want to sell.

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Postby parkersd » Thu Jan 06, 2011 9:02 am

As I said previously we DID buy a very rural property off Ebay & were lucky because it was exactly as described. I quite agree that a lot of the 'buy now' prices seem to be inflated & personally would stick to the auctions and make sure before you start that you agree, with yourself, what you want to pay..and don't go over it!

As others have said,and we didn't do,it would be wise to come over & tour some of the country and decide which area you want to be in first.In our experience if you do 'win' an auction and don't like the house the agent will find you something more suitable. There are some great bargains to be found if you hunt around,it's even worth going to speak to the mayor/s of villages you are interested in as they will know what is for sale.
Learning some basic Bulgarian will also stand you in good stead as the locals can be very impressed by the fact that you have bothered.

Good luck Haggis and we hope you find what you're looking for :D

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Postby Painter » Thu Jan 06, 2011 12:09 pm

If you want a bargain I would say go with eBay as the notion that you can drive around with a Bulgarian in the boot ready to leap out and negotiate the sale of a bargain property is a bit farfetched. Bargain properties do come up but I think you have to be on the ground and somewhat integrated with the local communities i.e. living there. Also you have to deal with lawyers, notaries, company set up, changing the utilities in a foreign country/language. That is a nightmare waiting to happen should things go wrong and we have enough stories on here about such things.

Actually visiting Bulgaria is really good advice as you will be able to explore villages, meet local expats and English speaking Bulgarians, though one expat told me that houses were now rare (even though there were more empty properties than you could shake a stick at) and the house I was looking at was a bargain (despite the fact it had subsidence and was ready to crack in two).

If you are looking to buy a village house then why not book into a series of village B&B’s and really get a feel of what it will be like, then if a property comes up on eBay or with an REA, you will have firsthand knowledge of what the place is like.

My last point is never buy without knowing the name of the village!!! As you need the name to find out how many people are actually living there. If it is less than 300 I would give it a miss; unless self sufficiency and isolation are your thing.
Last edited by Painter on Thu Jan 06, 2011 12:45 pm, edited 1 time in total.

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Postby scot47 » Thu Jan 06, 2011 12:14 pm

There are many villages that are in their death-throes. You MUST go and have a GOOD LOOK. Not just a tour organised by someone who wants to sell you something. Go and have a look.

Is there a school ? Is there a shop ? What about bus/train links ? Are ther any young people in the village ?

I can show you places that had 500 people living there 20 years ago where there are now less than a dozen.
Last edited by scot47 on Thu Jan 06, 2011 2:44 pm, edited 1 time in total.

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Postby steven1404 » Thu Jan 06, 2011 1:03 pm

i have bought 2 propertys of ebay and have to say i got them at the cheap end the last one i got for 5k and it was up for sale for just short of 30k so yes you can get some bargains out there but you do have to know about location my last purchase was in plovdiv so good buy for me but then i do want to turn it into a b and b good luck with your search

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Postby booboo » Thu Jan 06, 2011 1:20 pm

scot47 wrote:There are many villages that area in their death-throes. You MUST go and have a GOOD LOOK. Not just a tour organised by someone who wants to sell you something. Go and have a look.

Is there a school ? Is there a shop ? What about bus/train links ? Are ther any young people in the village ?

I can show you places that had 500 people living there 20 years ago where there are now less than a dozen.


Do you charge for your tours? :wink:

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Haggis

Postby Haggis » Wed Jan 12, 2011 5:24 am

OK so lets imagine this for a while and see where we get.
When I bought the house in Scotland here is what I did.
Saw it. Offered what I wanted to pay. This was reluctantly accepted. Instructed lawyer to proceed and tell me when I could move in. A few hitches were discovered on the way like a not very professional surveyor submitting a survey for someone elses property to my mortgage co but apart from that all went reasonable well.

Now the somewhat daunting task of buying in BG is not as straight forward is it. Although quicker then in the UK it seems that there is much more to look out for.

For this exercise lets assume we have visited BG and made our mind up this life is what we want.

So lets say that we have decided to buy through Ebay auction. Reason. To get a more reasonable value on the property.
So we have looked on ebay and found say 10 rural properties that tick most of the boxes required.

We have seen on here a few times that folks have found out about REA's and sellers by searching on the internet. This is something I have tried to do with some of the sellers on ebay but got no further that managing to find all the adds on ebay that they had.

Yep I know I am pc incompetent so if any of you could point me in the direction of haw to find out about ebay sellers. Things like previous ID's The companies owned and good or bad things about them etc etc we will be eternally greatfull.

Next up How do you find out about an area your chosen property to bid on is in? If you we were to believe all the blurb spouted in the adds on ebay then everyone and their dog would be flocking to buy properties in BG.
Things like "15 minutes form the up and coming bustling town of Popovo"
Now do you need a leajet to get there in 15mins and is Popovo an up and coming bustling town?

Connected to water and electricity. does this mean that there is a stream at the bottom of the garden and someone has run an extension lead from next door neighbor?

Tarmac road outside therefor access all year round. Do you need a Haglund tracked personnel carrier in the winter??

Now there has been lots said about the reliability of rural electricity and water. So can we take it that we might have these services for say 6 months out of the year?

There is so much to ask so I will keep it to this for now

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