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International Property Alerts - Feb 2008 - Bulgaria Scams

Posted on Tuesday, 18 March 2008 11:04AM
Dear IPA Friend,

"Talking about caution with rural Bulgaria this reminds me of an enquiry that we had the other day. The person had bought a property through the internet in rural Bulgaria for £3,000! Yes, that was the total price, not just the deposit. Unsurprisingly, not everything was as it seemed and the person then came to us because they were getting nervous that they weren't getting their title and weren't getting responses to their emails from the sellers. As the price was so low they didn't use a lawyer in the purchase."

"So basically;

1. There are scams going on in Bulgaria - just as in any other country.

2. If you are buying a really cheap property then either;
    a. Be prepared to loose the money paid if it all goes wrong or; 
    b. Employ a lawyer even if their fees are a large percentage of the  property value.

3. It is highly recommended that you or a representative visit any property that you are buying - even if it is just to check that it exists."

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