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becto_26
New Member
helllo okay
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Nige-n-Jo
New Member
Hello everyone
Hi, have just come across this forum.
We own a 2 bed apartment on the 3rd floor of Lilia block. We have not gone with the furnishing pack for a number of reasons but primarily, the money we had set aside to buy this place ran out when we got clobbered by the exchange rate as we had it all in sterling and the last 30% payment was much higher than originally planned. Also, at the start, the pack was estimated to cost 6000 euros. We felt 8500 euro at current exchange rates plus the poor way in which rental would be paid vastly in arrears left us disillusioned with our purchase.
We bought in as we had friends working in Sofia and went over to visit. During our stay we went up the gondola to Vitosha Mountain and saw this complex on the way back down. We wanted in as at that time everything was booming, we liked the city and the plans for the complex looked appealing. Yes, we got on the bandwagon too late and were as guilty as the next man of wanting to make a profit so perhaps entered into this with our eyes closed. Hindsight says we should of invested in student accomodation in our home city of Oxford which has been relatively unscathed by the recession, but hey, thats the wonder of hindsight.
SO, where from here ?
There seems to be quite an air of frustration/ disappointment amongst investors on this board and so hopefully we can all benefit from others experience. Its clear that there is a large contingent of buyers from the Emerald Isle, can anyone enlighten me as to why this is ? Was this down to aggressive marketing in Ireland or just your ability to find this forum ahead of me....lol
Ideally I would just like to sell and get my money back (based on selling for a loss in Euros but countering that loss with benefitting from the favourable exchange rate from Euro back to Sterling) but I fear finding a buyer at the moment will be tricky so am open to suggestions. Have seen Sash mentioned on here, might give them a call and find out about them managing the letting of the apartment. At least I will be able to use it if its not let and may even get a few quid back as well.
Merry Christmas to you all and I look forward to sharing thoughts and information going forward.
thanks
Nigel
Hi, have just come across this forum.
We own a 2 bed apartment on the 3rd floor of Lilia block. We have not gone with the furnishing pack for a number of reasons but primarily, the money we had set aside to buy this place ran out when we got clobbered by the exchange rate as we had it all in sterling and the last 30% payment was much higher than originally planned. Also, at the start, the pack was estimated to cost 6000 euros. We felt 8500 euro at current exchange rates plus the poor way in which rental would be paid vastly in arrears left us disillusioned with our purchase.
We bought in as we had friends working in Sofia and went over to visit. During our stay we went up the gondola to Vitosha Mountain and saw this complex on the way back down. We wanted in as at that time everything was booming, we liked the city and the plans for the complex looked appealing. Yes, we got on the bandwagon too late and were as guilty as the next man of wanting to make a profit so perhaps entered into this with our eyes closed. Hindsight says we should of invested in student accomodation in our home city of Oxford which has been relatively unscathed by the recession, but hey, thats the wonder of hindsight.
SO, where from here ?
There seems to be quite an air of frustration/ disappointment amongst investors on this board and so hopefully we can all benefit from others experience. Its clear that there is a large contingent of buyers from the Emerald Isle, can anyone enlighten me as to why this is ? Was this down to aggressive marketing in Ireland or just your ability to find this forum ahead of me....lol
Ideally I would just like to sell and get my money back (based on selling for a loss in Euros but countering that loss with benefitting from the favourable exchange rate from Euro back to Sterling) but I fear finding a buyer at the moment will be tricky so am open to suggestions. Have seen Sash mentioned on here, might give them a call and find out about them managing the letting of the apartment. At least I will be able to use it if its not let and may even get a few quid back as well.
Merry Christmas to you all and I look forward to sharing thoughts and information going forward.
thanks
Nigel
G
ge_or_gi
New Member
Hi
Hi to all property owners here. I just to tell that im making a website for my two clients from Vitosha Park. I have furnished the apartments for them and after that they have decidet to give me the management of the apartments and to do the after-sales work with the developer about anyting or any issues in the apartments.
So back on the line if any one wonts to be included in the website please drop me a line. Just i need to say - if you will like your apartment to be included in the web site you will have to write a description for the property and send me photos.
P.S.
sorry for the bad English and if something does not make a sense.
Hi to all property owners here. I just to tell that im making a website for my two clients from Vitosha Park. I have furnished the apartments for them and after that they have decidet to give me the management of the apartments and to do the after-sales work with the developer about anyting or any issues in the apartments.
So back on the line if any one wonts to be included in the website please drop me a line. Just i need to say - if you will like your apartment to be included in the web site you will have to write a description for the property and send me photos.
P.S.
sorry for the bad English and if something does not make a sense.
H
harp67
New Member
Good solicitor?
Dear Colin,
I am new to this site and came across your postings which I have found very informative. I need to start the process of transfer of deeds for 2 two bed apartments I purchased in Lillia block. I was wondering whether you were happy in the dealings you have had with your solicitor and whether you would be happy to recommend them?
I am looking to go out to Sofia over the next few weeks and would like to complete the process of transfer of deeds as soon as possible. Hope you can help. Also can you please tell me how much I should expect to pay for the service.
If there is any body else out there that can recommend a good solicitor, please do let me know.
Also, is there anybody out there that has been successful in securing the guaranteed rental from the developer?
Many thanks,
Harpreet
Dear Colin,
I am new to this site and came across your postings which I have found very informative. I need to start the process of transfer of deeds for 2 two bed apartments I purchased in Lillia block. I was wondering whether you were happy in the dealings you have had with your solicitor and whether you would be happy to recommend them?
I am looking to go out to Sofia over the next few weeks and would like to complete the process of transfer of deeds as soon as possible. Hope you can help. Also can you please tell me how much I should expect to pay for the service.
If there is any body else out there that can recommend a good solicitor, please do let me know.
Also, is there anybody out there that has been successful in securing the guaranteed rental from the developer?
Many thanks,
Harpreet
V
Vpark
New Member
Dear Harpreet,
We have now signed our title deeds because our Solicitor agreed with the Developer to insert a suitable clause in the Contract to give us as owners the same right of access which is currently held by the Developer & at no cost to ourselves until the state build the permanent road.
The cost of the title deeds is difficult to analyse as we commissioned a Solicitor to review the Contract, check documents at stage payments & act as our attorney in signing the title deeds. There are also Bulstat Registration fees & taxes to be paid - I think the Solicitors fees were about 1,500 euros & statutory costs of probably 2,500 - for a 1 bedroom apartment.
The solicitors we used were Yankov & Co in Sofia & they have certainly researched documents well & advised us of our options. However, I am not in a position to either recommend or not recommend them as I am unable to give a professional opinion.
With regard to the guaranteed rental income, yes we have anb ageement in place which will commence once the electricity is on & our contents insurance is in place.
I would be interested in any other news you may have.
Regards
Colin
We have now signed our title deeds because our Solicitor agreed with the Developer to insert a suitable clause in the Contract to give us as owners the same right of access which is currently held by the Developer & at no cost to ourselves until the state build the permanent road.
The cost of the title deeds is difficult to analyse as we commissioned a Solicitor to review the Contract, check documents at stage payments & act as our attorney in signing the title deeds. There are also Bulstat Registration fees & taxes to be paid - I think the Solicitors fees were about 1,500 euros & statutory costs of probably 2,500 - for a 1 bedroom apartment.
The solicitors we used were Yankov & Co in Sofia & they have certainly researched documents well & advised us of our options. However, I am not in a position to either recommend or not recommend them as I am unable to give a professional opinion.
With regard to the guaranteed rental income, yes we have anb ageement in place which will commence once the electricity is on & our contents insurance is in place.
I would be interested in any other news you may have.
Regards
Colin
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harp67
New Member
R
raymondchew
New Member
Hi Harpreet,
A solicitor firmI would personally recommend is NYD Law. They have been exceptional in their dealings and updated me on every step of the way. Can't beat having emails replied within a couple of hours on most ocassions. I have completed my purhase about 4 weeks ago, the legal fees was just under 1200 Euros. I would say very good value for money. The contact person is Ms Yordanka Valova and her email address is y.valova @ nyd-law dot com. Good luck.
Raymond
A solicitor firmI would personally recommend is NYD Law. They have been exceptional in their dealings and updated me on every step of the way. Can't beat having emails replied within a couple of hours on most ocassions. I have completed my purhase about 4 weeks ago, the legal fees was just under 1200 Euros. I would say very good value for money. The contact person is Ms Yordanka Valova and her email address is y.valova @ nyd-law dot com. Good luck.
Raymond
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harp67
New Member
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quinnn
New Member
Hi All,
I have not been on this site for some time now and it's great to see so many people have hooked up. There are a number of owners who are now in contact with each other via e-mail. If you are interested please send me your e-mail address by PM and also your apartment no. and block. My solicitor signed the notary on our behalf last week. Just be aware that it is common practice in Bulgaria for the developers to follow our concerns and chat on these sites!
By the way I am based in Ireland. Looking forward to hearing from you!
I have not been on this site for some time now and it's great to see so many people have hooked up. There are a number of owners who are now in contact with each other via e-mail. If you are interested please send me your e-mail address by PM and also your apartment no. and block. My solicitor signed the notary on our behalf last week. Just be aware that it is common practice in Bulgaria for the developers to follow our concerns and chat on these sites!
By the way I am based in Ireland. Looking forward to hearing from you!
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brendyb
New Member
vitosha park
hi quinnn,
brendan here from wexford and i have an apartment (2 bed) in the lilia house ;apt d24. its furnished and awaiting rental which is proving very slow.my e- mail is : [email protected] . i have been in contact with about four other people now from ireland which is good to have. if you want details e-mail me and ill forward on their contact details.
regards brendan.
hi quinnn,
brendan here from wexford and i have an apartment (2 bed) in the lilia house ;apt d24. its furnished and awaiting rental which is proving very slow.my e- mail is : [email protected] . i have been in contact with about four other people now from ireland which is good to have. if you want details e-mail me and ill forward on their contact details.
regards brendan.
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Paul Coates
New Member
Hi,
I`m Paul and based in Leeds - paulcoates at gauntletgroup . com if anyone would like to get in tocuh!
I have just found this site and what a welcome relief!
I have an apartment at Vitosha Park C422
I have paid the full payment but have not yet signed the title deeds over or visting the complex in over 18 months.
I have signed for the furniture pack and agreed rental although not sure this was a wise decision.
How is everyone else getting on?
I am looking at getting the deeds signed ASAP.
Has anyone visited the site recently?
Has anyone carried out a technical survey?
Has anyone paid the maintenance fee, opened their accounts and paid for the slush fund for the emergency repairs? (I have not done any of this as yet)
Would be good to hear from people either on here or via e-mail.
Cheers
Paul
I`m Paul and based in Leeds - paulcoates at gauntletgroup . com if anyone would like to get in tocuh!
I have just found this site and what a welcome relief!
I have an apartment at Vitosha Park C422
I have paid the full payment but have not yet signed the title deeds over or visting the complex in over 18 months.
I have signed for the furniture pack and agreed rental although not sure this was a wise decision.
How is everyone else getting on?
I am looking at getting the deeds signed ASAP.
Has anyone visited the site recently?
Has anyone carried out a technical survey?
Has anyone paid the maintenance fee, opened their accounts and paid for the slush fund for the emergency repairs? (I have not done any of this as yet)
Would be good to hear from people either on here or via e-mail.
Cheers
Paul
K
KayJay
Member
Hi, All!
Like so many others I've just discovered this site and I'm starting to wonder if I need to be even more careful than I thought...
I've literally just got back to the UK from Sofia today and I'm in the process of buying a 2-bed apartment in Lillia, having paid the deposit already. Unlike some (all?) of you, my purchase is actually to live in and the prices being asked by the developer now seem to be a lot lower than a year or two back. The quality of the apartments is very good and the views are great, of course.
However, I'm now getting jittery about the question of access (as mentioned a few pages back) and the fact that the complex seems rather empty right now, with the lifts still not actually working etc.
I'd be happy to talk to some of you folks and will probably call a few of the mobile numbers which are so helpfully provided this evening. However, the time for me to sign the contract and pay the full whack is at the end of this month, so my main questions are- does anyone know of any reason why I should hold back and are there any factors I should be aware of before I take the plunge?
Thanks for any replies.
Like so many others I've just discovered this site and I'm starting to wonder if I need to be even more careful than I thought...
I've literally just got back to the UK from Sofia today and I'm in the process of buying a 2-bed apartment in Lillia, having paid the deposit already. Unlike some (all?) of you, my purchase is actually to live in and the prices being asked by the developer now seem to be a lot lower than a year or two back. The quality of the apartments is very good and the views are great, of course.
However, I'm now getting jittery about the question of access (as mentioned a few pages back) and the fact that the complex seems rather empty right now, with the lifts still not actually working etc.
I'd be happy to talk to some of you folks and will probably call a few of the mobile numbers which are so helpfully provided this evening. However, the time for me to sign the contract and pay the full whack is at the end of this month, so my main questions are- does anyone know of any reason why I should hold back and are there any factors I should be aware of before I take the plunge?
Thanks for any replies.
K
KayJay
Member
Any chance of the details of the other forum, please?
B
brendyb
New Member
lilia apartment.
brendan here. i also have a two bed apartment in the lilia house on the second floor which im trying to rent at the moment. i bought off plan at the outset of the development. what price are they charging for a two bed now. mine is approx 100 square metres and cost 109600 euro.
make sure you have a bulgarian lawyer for a start. that was invaluable for me and she sorted all the notory deed transactions and my registration with the property.i cannot see how the access will be a major problem as im sure their will be a number of properties availing of that entrance in time and they will prob all have to pay their share to avail of it. like all developments theere are problems initially but i do think it will be a sound invesrment in time. the location is very good and sofia as a city will get capital to improve its infrastructure in time.
im sure as you are living in that you wont have to pay the deposit for utility bills. most of us are not paying that. just agree with them to pay as you go monthly.they are flexible if you push them.you will have to pay management fee of 245 euro and you may get the first year maintenance for half at around 444 euro. we got this reduction as the property has been delayed. perhaps as you have just bought you may not avail of this but no harm in trying.
please let me know what it is like to live there and what the heating system is like and of course the skiing if you get a chance.
if you have any more questions please feel free to e mail me oat : [email protected] . best of luck.
regards brendan.
hi kay jay,
brendan here. i also have a two bed apartment in the lilia house on the second floor which im trying to rent at the moment. i bought off plan at the outset of the development. what price are they charging for a two bed now. mine is approx 100 square metres and cost 109600 euro.
make sure you have a bulgarian lawyer for a start. that was invaluable for me and she sorted all the notory deed transactions and my registration with the property.i cannot see how the access will be a major problem as im sure their will be a number of properties availing of that entrance in time and they will prob all have to pay their share to avail of it. like all developments theere are problems initially but i do think it will be a sound invesrment in time. the location is very good and sofia as a city will get capital to improve its infrastructure in time.
im sure as you are living in that you wont have to pay the deposit for utility bills. most of us are not paying that. just agree with them to pay as you go monthly.they are flexible if you push them.you will have to pay management fee of 245 euro and you may get the first year maintenance for half at around 444 euro. we got this reduction as the property has been delayed. perhaps as you have just bought you may not avail of this but no harm in trying.
please let me know what it is like to live there and what the heating system is like and of course the skiing if you get a chance.
if you have any more questions please feel free to e mail me oat : [email protected] . best of luck.
regards brendan.
K
KayJay
Member
Hi, Brendan
I emailed you this morning! :wink:
I emailed you this morning! :wink:
K
KayJay
Member
Brendan
Thanks for that info.
Now to answer your questions/points as far as I can.
I hear that renting is VERY tough at the moment and the whole place has very few people living in it - I believe that most of those actually own their apartments as well....
I prefer not to quote prices on the open forum but I'll email you the current price for a 2-bed on the 2nd floor. Do you have a parking space and a "maze" (basement storage room),by the way?
I have a Bulgarian lawyer, although she isn't as fast-working as I'd like; it sometimes takes a degree of stroppiness to get her into gear and she's prone to screw up some of the details if you let her :frown: As regards the access problem, I've sent her the text that was posted on page 6 and told her to get her finger out and to check it with Simeonovo and to add a protocol about it to the contract; I know what CAN happen in BG and I want everything as watertight as it can be. I've also asked her to nail them down on maintenance and management fees, as well as how much they may increase them by in the future.
Having looked at many developments in Sofia, I'd certainly agree that VP is one of the better ones, if not the best, and will be a good long-term investment. Transport into town is pretty crap unless you have a car; the bus runs about every hour and I've seen no sign of the complex's own transport they mention. The nearest Metro station is in Mladost, so a car is a must and hence a parking space is also.
I don't think I'll get much info on the heating system, I'm afraid! My apartment has air-con, although I've told them to remove it (with another protocol to ensure they don't make a mess when they do :wink
They apparently charged the original buyer (who backed out due to being unable to complete) 4000euros for the system a couple of years back and they wanted me to pay the same; I told them to "pick some pears" as I can get the same kit shipped over from the UK for 2000 quid with a new 3-year good-in-BG warranty or buy it locally for around 2700 euros. If they want to be sensible, I'd reconsider, of course.... :wink: However, the heating system will be the air-con, the wall-mounted convectors already there or the petchka (although that's mainly decorative, of course). I visited the apartment several times during the recent cold snap and it was pretty warm, especially considering that there was no heating on at all. I deliberately chose one which was surrounded by other apartments so as to be insulated by them and maybe even leech some heating from them :laugh:I won't be able to telly you much about the skiing either - my knees are knackered from too much sport when I was younger so that's a no-no for me. However, I can say that the gondola-lift is amazingly quiet when it's working; even on the balcony you can't hear it!
Hope that's of some use/interest to you.
K
KayJay
Member
Just for information, current prices on the complex seem to depend on several factors, as I imagine they did when people were buying off-plan. There are certain blocks which seem to attract a higher price-tag (the ones at the top of the site, with better views go for more); the higher floors in any block are likewise more expensive and the bigger the apartment, the higher the per sqm cost. Broadly speaking, the market prices are, I believe, around 30-40% lower than a couple of years back.
However, I'm convinced that they will increase again in time; whether they have hit rock-bottom yet is another question, of course. There's a heck of a lot on the market right now and sellers of all kinds of property are having to deal with the real world or be prepared for the long-haul. I was offered the opportunity by one owner of buying an apartment at "only" a 3.5% mark-up on the original off-plan price - although it was indicated that an offer of the off-plan price might be acceptable; sadly I had to decline.... :wink:
However, I'm convinced that they will increase again in time; whether they have hit rock-bottom yet is another question, of course. There's a heck of a lot on the market right now and sellers of all kinds of property are having to deal with the real world or be prepared for the long-haul. I was offered the opportunity by one owner of buying an apartment at "only" a 3.5% mark-up on the original off-plan price - although it was indicated that an offer of the off-plan price might be acceptable; sadly I had to decline.... :wink:
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brendyb
New Member
vitosha park.
thanks for all the information in your reply. the lawyers can be a bit slow and seem to have the handbrake on most of the time alright. i missed a detail on my e mail address that i sent you so i have not recieved your mail - sorry for the hassle.
the proper one is . [email protected] between the brndn_ bonner there is an underscore. it was shown to you as a fully underlined part.
regards brendan.
hi kayjay,
thanks for all the information in your reply. the lawyers can be a bit slow and seem to have the handbrake on most of the time alright. i missed a detail on my e mail address that i sent you so i have not recieved your mail - sorry for the hassle.
the proper one is . [email protected] between the brndn_ bonner there is an underscore. it was shown to you as a fully underlined part.
regards brendan.
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K
KayJay
Member
I'm not sure what's happening, Brendan - I sent you 2 emails that day, both to the correct address.
My email is gleeky1 at hotmail dot com - maybe you can try from your side?
My email is gleeky1 at hotmail dot com - maybe you can try from your side?
K
KayJay
Member
Photos of VP
I'm going to try to post some pictures taken of the complex last week....IF they're not too big!
They'll hopefully give everyone an idea of what the place looks like now.
I'm going to try to post some pictures taken of the complex last week....IF they're not too big!
They'll hopefully give everyone an idea of what the place looks like now.
