Bulgaria Ski discussion board
Ski apartments!
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posts : 13 (Beginner)Date : 01-06-10 19:06Ski apartments!
I have been looking on various websites for property for sale in Bansko and just want to ask if it is actually possible to buy a decent re-sale for under 30,000 euros. If so, what would be the pro's and cons of buying something so cheap. Would it be better to up my budget to get something more desirable? What yearly charges would I expect to pay? I am not looking for an investment as such, more for a winter getaway as I live and work on the coast in Bulgaria.Chris
re: Ski apartments!
Chris there have been some nightmare reports over the past 2 years on UK people buying property in Bulgaria - so please be very diligent in whatever you do.
I would suggest whoever you purchase from that you get a good solicitor involved right away. Ensure the solicitor sees a recent set of accounts from the company to ensure they are completely solvent and not likely to go under.
If you are buying 2nd hand then ask to see the last 12 months bills and get them to sign an affidavit that ...
I would suggest whoever you purchase from that you get a good solicitor involved right away. Ensure the solicitor sees a recent set of accounts from the company to ensure they are completely solvent and not likely to go under.
If you are buying 2nd hand then ask to see the last 12 months bills and get them to sign an affidavit that ...
Chris there have been some nightmare reports over the past 2 years on UK people buying property in Bulgaria - so please be very diligent in whatever you do.
I would suggest whoever you purchase from that you get a good solicitor involved right away. Ensure the solicitor sees a recent set of accounts from the company to ensure they are completely solvent and not likely to go under.
If you are buying 2nd hand then ask to see the last 12 months bills and get them to sign an affidavit that states this is a full and true account of the current outgoings. Also check with all prospective suppliers that there are no outstanding claims on the property.
Tread very carefully - and good luck.
I would suggest whoever you purchase from that you get a good solicitor involved right away. Ensure the solicitor sees a recent set of accounts from the company to ensure they are completely solvent and not likely to go under.
If you are buying 2nd hand then ask to see the last 12 months bills and get them to sign an affidavit that states this is a full and true account of the current outgoings. Also check with all prospective suppliers that there are no outstanding claims on the property.
Tread very carefully - and good luck.
re: Ski apartments!
Hi Chris,
I bought a studio apartment in Borovets 4 years ago. I wouldn't buy if you are expecting to get a good return on your investment. Please don't shoot me down guys but I am talking from experience. Luckily we got 3 years return at 5% a year, the owners didn't rent the property in the entire time from what we can tell. This arrangement was supposed to continue after the 3 years but surprise..surprise they didn’t want to continue the contract.
We are in the lucky position that ...
I bought a studio apartment in Borovets 4 years ago. I wouldn't buy if you are expecting to get a good return on your investment. Please don't shoot me down guys but I am talking from experience. Luckily we got 3 years return at 5% a year, the owners didn't rent the property in the entire time from what we can tell. This arrangement was supposed to continue after the 3 years but surprise..surprise they didn’t want to continue the contract.
We are in the lucky position that ...
Hi Chris,
I bought a studio apartment in Borovets 4 years ago. I wouldn't buy if you are expecting to get a good return on your investment. Please don't shoot me down guys but I am talking from experience. Luckily we got 3 years return at 5% a year, the owners didn't rent the property in the entire time from what we can tell. This arrangement was supposed to continue after the 3 years but surprise..surprise they didn’t want to continue the contract.
We are in the lucky position that we purchased outright so we are not bothered about renting and don't want the placed trashed. If you want a cheap holiday home in a ski resort you won’t find cheaper. Hopefully in 5-10 years it will be a bigger better skiing resort with a few golf courses so it’s worth using and renting in the summer. Don’t get me wrong I love Bulgaria and every time I go it’s like going to my spiritual home. We have been over New Years Eve every year for 5 years. This year we choose not to because of the prices, good job really.
If you are serious I am happy to talk off line. If you want to give me a call let me know and I will email you my number.
PS. We pay about 500 Euros a year for bills/maintenance etc when we use it one a year.
I bought a studio apartment in Borovets 4 years ago. I wouldn't buy if you are expecting to get a good return on your investment. Please don't shoot me down guys but I am talking from experience. Luckily we got 3 years return at 5% a year, the owners didn't rent the property in the entire time from what we can tell. This arrangement was supposed to continue after the 3 years but surprise..surprise they didn’t want to continue the contract.
We are in the lucky position that we purchased outright so we are not bothered about renting and don't want the placed trashed. If you want a cheap holiday home in a ski resort you won’t find cheaper. Hopefully in 5-10 years it will be a bigger better skiing resort with a few golf courses so it’s worth using and renting in the summer. Don’t get me wrong I love Bulgaria and every time I go it’s like going to my spiritual home. We have been over New Years Eve every year for 5 years. This year we choose not to because of the prices, good job really.
If you are serious I am happy to talk off line. If you want to give me a call let me know and I will email you my number.
PS. We pay about 500 Euros a year for bills/maintenance etc when we use it one a year.
re: Ski apartments!
Hi Chris
Pamporovo Pete gave you GOOD Avice
Read below about Nessebar and this would be the best place to buy on the Black Sea Coast, transfer the same advice to Bansko or any place else in the WORLD.
Scores of luxury hotels and apartments on Bulgaria's southern Black Sea coast are listed for foreclosure by private law enforcement officers.
In the last few months over 100 properties have foreclosed over their owners' overdue mortgage payments to banks and debts to businesses, the ...
Pamporovo Pete gave you GOOD Avice
Read below about Nessebar and this would be the best place to buy on the Black Sea Coast, transfer the same advice to Bansko or any place else in the WORLD.
Scores of luxury hotels and apartments on Bulgaria's southern Black Sea coast are listed for foreclosure by private law enforcement officers.
In the last few months over 100 properties have foreclosed over their owners' overdue mortgage payments to banks and debts to businesses, the ...
Hi Chris
Pamporovo Pete gave you GOOD Avice
Read below about Nessebar and this would be the best place to buy on the Black Sea Coast, transfer the same advice to Bansko or any place else in the WORLD.
Scores of luxury hotels and apartments on Bulgaria's southern Black Sea coast are listed for foreclosure by private law enforcement officers.
In the last few months over 100 properties have foreclosed over their owners' overdue mortgage payments to banks and debts to businesses, the Bulgarian TV channel bTV reports.
For example, in just one building in the town of Nessebar, 3 apartments are listed for sale by a private law enforcement officer and belong to one owner, who is unable to repay the mortgage. There are other similar cases in the same quarter, which is filled with new construction despite the fact that it is yet to be included in Nessebar's general urban plan.
Foreclosures are also listed in St. Vlas, Ravda, Sunny Beach, and Sozopol.
Most of the debtors are construction contractors, unable to sell the properties over the economic crisis, but there are private individual owners as well, who have difficulties repaying their mortgage.
Foreclosed properties also include those of foreign owners, mostly British and Irish.
Only 15% to 20% of the foreclosed listings end up being sold because even professional appraisers cannot estimate their market price. The requirement that the buyer must deposit the money in cash in 7 days after the sale also impedes the purchases. There is a discussion of the possibility to give buyers the opportunity to repay the initial mortgage.
Pamporovo Pete gave you GOOD Avice
Read below about Nessebar and this would be the best place to buy on the Black Sea Coast, transfer the same advice to Bansko or any place else in the WORLD.
Scores of luxury hotels and apartments on Bulgaria's southern Black Sea coast are listed for foreclosure by private law enforcement officers.
In the last few months over 100 properties have foreclosed over their owners' overdue mortgage payments to banks and debts to businesses, the Bulgarian TV channel bTV reports.
For example, in just one building in the town of Nessebar, 3 apartments are listed for sale by a private law enforcement officer and belong to one owner, who is unable to repay the mortgage. There are other similar cases in the same quarter, which is filled with new construction despite the fact that it is yet to be included in Nessebar's general urban plan.
Foreclosures are also listed in St. Vlas, Ravda, Sunny Beach, and Sozopol.
Most of the debtors are construction contractors, unable to sell the properties over the economic crisis, but there are private individual owners as well, who have difficulties repaying their mortgage.
Foreclosed properties also include those of foreign owners, mostly British and Irish.
Only 15% to 20% of the foreclosed listings end up being sold because even professional appraisers cannot estimate their market price. The requirement that the buyer must deposit the money in cash in 7 days after the sale also impedes the purchases. There is a discussion of the possibility to give buyers the opportunity to repay the initial mortgage.
re: Ski apartments!
Great advice from all of you, thank you very much!
My question is really about wether or not I would be able to purchase a good apartment in a good area for as little as 30,000 euro's as suggested by most estate agents.
Questions I would need answers to are as follows:
1. would it have act 16?(the right to use) for this price.
2. Would I have a swimming pool and/or other facilities in the complex at my disposal? For this price.
3. Is it possible to cover my yearly costs ...
My question is really about wether or not I would be able to purchase a good apartment in a good area for as little as 30,000 euro's as suggested by most estate agents.
Questions I would need answers to are as follows:
1. would it have act 16?(the right to use) for this price.
2. Would I have a swimming pool and/or other facilities in the complex at my disposal? For this price.
3. Is it possible to cover my yearly costs ...
Great advice from all of you, thank you very much!
My question is really about wether or not I would be able to purchase a good apartment in a good area for as little as 30,000 euro's as suggested by most estate agents.
Questions I would need answers to are as follows:
1. would it have act 16?(the right to use) for this price.
2. Would I have a swimming pool and/or other facilities in the complex at my disposal? For this price.
3. Is it possible to cover my yearly costs (maintenance fee, utility bills and government taxes) through renting it out.
I am an owner of an apartment in St Vlas (on the coast) and I am totally happy with everything here, I just want to find out if the same thing is possible in the ski resorts or should I stick with the coast?
Kindest regards,
Chris
My question is really about wether or not I would be able to purchase a good apartment in a good area for as little as 30,000 euro's as suggested by most estate agents.
Questions I would need answers to are as follows:
1. would it have act 16?(the right to use) for this price.
2. Would I have a swimming pool and/or other facilities in the complex at my disposal? For this price.
3. Is it possible to cover my yearly costs (maintenance fee, utility bills and government taxes) through renting it out.
I am an owner of an apartment in St Vlas (on the coast) and I am totally happy with everything here, I just want to find out if the same thing is possible in the ski resorts or should I stick with the coast?
Kindest regards,
Chris
re: Ski apartments!
if you are looking in bansko or pamporovo then you can definitely get an apartment with act 16 and facilities for around 30,000 euros. be careful however to research the long term management of the complex. Alot of the really cheap apartments are being sold due to bankrupties. If you are buying into a complex which is being sold at cut prices by the banks then you could have alot of problems later regarding management and maintanence. Try to find one where the owners/management have some ...
if you are looking in bansko or pamporovo then you can definitely get an apartment with act 16 and facilities for around 30,000 euros. be careful however to research the long term management of the complex. Alot of the really cheap apartments are being sold due to bankrupties. If you are buying into a complex which is being sold at cut prices by the banks then you could have alot of problems later regarding management and maintanence. Try to find one where the owners/management have some sort of long term strategy.
