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Pitfalls in choosing real estate or developer in Bulgaria

If you do not want to get in a trouble when buying a Bulgarian property, be sure to pay attention to the following nuances:

·         Low price for an apartment or a house

If you find ads that offer a studio on the coast for a price of 15 000 euro, then you should know that in 99% of cases it is a deceit. Although there may be exceptions, but they are very rare cases and their buyers cannot grasp it from the beginning because of the fact that they are quickly bought by realtors for resale. Therefore, before you buy be sure to find the apartment for the market average price. If you are offered a very cheap and attractive offer then carefully check the property and the seller, otherwise you risk being left without money and without an apartment.

·         Do not always follow the advice of your acquaintances

Acquaintances can advise you to purchase a house/ apartment in a particular complex because of their own interest in it or simply because of their naivety. Before you follow their tips, be sure to check the information to decide whether they were right.

·         First of all when choosing a real estate pay attention to the following factors:

Object parameters and infrastructure (its area, children's playgrounds, swimming pools, shops, restaurants, spa, WI-FI, recreation areas, etc.).

Favourable property location:There must be shops, cafes, restaurants, pharmacies, stop, beach, parks and various seating areasnear the object.

Compliance of the object to its photographs: Examine the property not only in photos but also in reality. Conscientious realtors always sell the property as it is on the photo, while the scams’ photo may not correspond to the real object.

Building materials used in the real estate object. Unscrupulous property developers use cheap and low-quality construction and finishing materials. The consequences of such practice are very sad.

How long does a realtor or property developer works in the market?The purchase of property from a start-up company that is luring clients with low prices always carries the risk to come across the fly-by-night company and stay with nothing.

Reputation of a realtor and property developer:Learn about company’s activity, its previous objects, blots on its reputation. Try to distinguish the responses of ordinary buyers from nominees who denigrate the competitors.

Maintenance of the object after purchase:If after commissioning the object is transferred to a third-party maintenance company, it is worth pondering on whether the object has major flaws that need to be eliminated at your own expense.

Conclusion of preliminary sale and purchase contract:Drill down sale and purchase preliminary contract, because it regulates the legal relations between the parties.

Specification of all details in the contract: Any promises, including defect correction after the purchase, should be specified in the contract.

The authenticity of all documents: To avoid problems and troubles, the seller and the property must be checked before the transaction of purchase and sale takes place.

The above are only the basic nuances of the correct choice of the Bulgarian real estate. The main requirement is to be vigilant and cautious under any circumstances.