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kara gee

£40k Down The Swanny In........bulgaria

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Now I know 99% of the folk on here wouldn't have invested in buying an apartment off-plan in Bulgaria in 2006, but my friend did and now faces the consequenses.

Thus far she has paid 75% of total price for an apartment totals £40k so far. A few months age the developer asked for final 25% as apartment was finished. (3 years later).

She flew out to look at it and it's basically a bodge-job nightmare so refused the final installment until work finished to a higher standard.

Since then the builder has gone into recievership and properties handed over to crediter. The creditor has now put all properties up for auction, builder gone bankrupt and £40k has disappeared.

I know your immidiate reaction is HA HA :lol::lol: serves her right. And if she wasn;t a friend, I'd be saying the same.

So just wondering if anyone knows anyone else in a similar situation and if there has been any recourse for their sutuation. I know it's a long shot, and this isn't MSE, but no harm in asking here anyway.

Cheers

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Hopefully somebody who knows more than me will pop along shortly.

It's not MSE but they can have a "hugs" from me.

I don't like seeing ( even silly people ) getting ripped off and this sad tale won't be the last

edit ...dodgy keyboard

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Good article here

http://www.thetravelbug.org/

And that was just the start of my problems with builders, the farce of the legal and court system, and generally dealing with 'Bulgaria'. My difficulties with building my new house are detailed here to warn others what can and often does happen (with full details of the court case and company here)

I once looked into bulgaria and he was trusted on forums and such, good description of the legal process.

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Your friend's only hope would to probably be employing a member of the Bulgarian Mafiya: I am not being funny, BTW.

Three minutes ago Bulgaria was a Communist state; the Bulgars were noted for their chicanery and cruelty and when KGB wanted anyone knocked off (Wet Affairs) they invariably employed Bulgars, through the Bulgarian Secret Service.

Komitet za darzhavna sigurnost.

If a receiver has already liquidated the estate of the defunct company, little probably can be done.

Why oh why are people blinded by price?

Buying off plan is always a dangerous proposition: unless the buyer's cash is lodged into a fiduciary account and unaccessible by the vendor until exchange of ownership takes place.

Cowboy developers however and of course, abuse would-be buyer's deposits as operational capital: and their own wages!

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Guest AuntJess
Good article here

I once looked into Bulgaria and he was trusted on forums and such, good description of the legal process.

You do realise that a country name is a proper noun, so begins with a capital. I have corrected it for you. I knew you'd be grateful. :P

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I've heard this story again and again...

Was she contractually obliged to make the final 25% payment? It may be worth getting a Bulgarian lawyer to read over the terms of the contract. Contracts vary wildly here but they often link payments with the state of development, although there are procedural requirements if you aren't happy with the work done. Like in any country you can't just refuse to pay and expect things to turn out okay.

Though If it's already been taken by the creditor and sold it's probably a fait accompli.

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I must admit i was pluging Bulgeria and still think it's not a bad place compared to here and whilst they have the Mafia we have a Mafia style goverment that is corupt to the core so it's a game of knowing how to play them.

You do realise that a country name is a proper noun, so begins with a capital. I have corrected it for you. I knew you'd be grateful. :P

Look jes even i knew that but me hope your not going to start telling me how to write just because phone is spelt phone and not fone.

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Look jes even i knew that but me hope your not going to start telling me how to write just because phone is spelt phone and not fone.
It should be telephone, or if you must abbreviate " 'phone" :)

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I love the way that after the litany of problems, threats, bailiffs, chimney not working, house falling to pieces, showers leaking, stinking septic tanks etc etc.. he then goes on to advertise that its for rent! :lol:

He'd make a brilliant estate agent!

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