newbie legal buying advice

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budyboy
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newbie legal buying advice

Postby budyboy » Sun Aug 30, 2015 8:56 am

hi everyone, new member here. i would like some advice please from the experienced people here in the forum.
i am considering buying a house for £15k from the company "cheap bulgarian house", also called ok bulgaria. i am buying it with 30% deposit and paying the rest interest free over 12 months.
the agent i am dealing with is great, but he has told me they take care of the legal side of things for a 3% fee.
while this is ok with me, i want to know if this is normal practise. he has told me i can get my own lawyer but of course this would cost more money.
what i would like to know is if this is advisable. get an independant lawyer of my own, even though i am already paying ok bulgaria for the legal side of things

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Anni
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Postby Anni » Sun Aug 30, 2015 9:32 am

No, get your own independent lawyer.

People have been caught out something rotten by not using their own independent legal advice.

FlagHostel

Postby FlagHostel » Sun Aug 30, 2015 10:33 am

anni is right budyboy.

find your own.

everyone in bulgaria is ripping everyone off, no matter how nice they are to your face.
as you are new, you just don't know this yet.

if your buying for £15 and your agent is charging you 3%, that means they will charge you £2250 which is at todays rate of 2.67 levs to 1 pound = 6007 levs.

6007 levs is total bull budy for this work.

the agents work with their lawyers and share the money between them.
again, as you are new, they hope to scam you before you realise.

i have just bought a house to register my business to and my friend, who is a lawyer charged me 150 levs.

so you can see the difference budy.

his name is yavor tashev. his name is unique as he is the only person in the whole of bulgaria with this name.

his email is y.tashev@gmail.com

he will give you a much better price for the work.

good luck if you want to save money.

the amount of people ripping new comers off in bg makes me sick.

cheers
dave

p.s £15k sounds a lot for a house in bg. what village is it in budy ?

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budyboy
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Postby budyboy » Sun Aug 30, 2015 10:47 am

its in KOPRIVETS, RUSE..engllish owner afaik..very good house, heating, rads, pvc, etc..2900 sq m garden..ok bulgaria said they charge 3% comm and 3% legal fees . 3% is 615 euro so two by 615 euro is 1230 euro total fees on 21,000 euro house. like i said the legal fees are inc. i asked if i could get my solicitor, they said yes, of course, but obviously i have to pay them anyway for legal so would be paying twice. thats why im asking here.

FlagHostel

Postby FlagHostel » Sun Aug 30, 2015 11:08 am

hi budy,

yes you are right about the legal fees. they are 3 % and you have to pay them anyway.

but

if you are paying £15k for your house, im 100 % sure your agent, lawyer will put £15k on the new notary which will be produced in your name.

you pay the government percentage tax on what's on on the notary.

the tax valuation (what the municipality values your house at) in the area you are buying will im guessing, will be no more than say 5000 levs.

this is the true value of your house in a village in your area.

£15k pounds is FAR TOO much to be paying budy in this village - but it's up to you of course if you want to go ahead. This is 40,000 levs !

the agent and lawyer will love you if you proceed.

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budyboy
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Postby budyboy » Sun Aug 30, 2015 11:20 am

i have looked extensively for a while now and cannot find any property offering as much for that money. i know its cheaper in the north, but its still value i feel. thx for advice re legal. i will proceed only if i use my own lawyer.

FlagHostel

Postby FlagHostel » Sun Aug 30, 2015 11:28 am

ok budy,

this isn't the cheapest way to buy now but have a look on ebay.

type in 'overseas property '
here you find many houses for a lot less than £15 pounds.

but good luck if you decide to go ahead with the house in this village for £15k

you owe me nothing for the advice.

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cmcnab
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Location: Stenhousemuir,Scotland Omarchevo,Nova Zagora,Bulgaria

Postby cmcnab » Sun Aug 30, 2015 11:55 am

C
:D
Last edited by cmcnab on Sun Aug 30, 2015 3:36 pm, edited 1 time in total.

FlagHostel

Postby FlagHostel » Sun Aug 30, 2015 12:52 pm

Sorry cmc.

I meant ' overseas properties '

Try this to compare prices

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cmcnab
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Location: Stenhousemuir,Scotland Omarchevo,Nova Zagora,Bulgaria

Postby cmcnab » Sun Aug 30, 2015 1:18 pm

C

:D
Last edited by cmcnab on Sun Aug 30, 2015 3:38 pm, edited 2 times in total.


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