New Law - for all apartment owners

[Jain and Chris]

Hello all

Just to remind everyone that on 1 May 2009, new legislation regarding apartment ownership/management comes into force in Bulgaria.

There are some big changes in the current legislation and we've covered the main points of the differences, the pros and cons in the first part of a two part article so that apartment owners know what is happening and how it may affect them.

All best wishes
Jain and Chris

 

[Thor]

HI Jain & Chris

I am very new to this forum thing in fact it is the first i have joined.

I have just bought a place in Bansko and I am looking at buying elsewhere near Sofia. I was wondering if you had any knowledge re the area the the Central Park Development is on near the Trakia Motorway. You can see this development on the knight knox website.

Many thanks for any advice you can give me

Regards

Thor

 

[Jain and Chris]

Hello Thor

Welcome to the web site, it is good to see you on here!

I have no personal knowledge of the development you are talking about, so I'm afraid I cannot really comment on that specific potential purchase.

However, having lived in Sofia for over four years, I can say that there have been enormous changes in the capital and I feel, particularly in the current market situation, that prices are very good right now and you should be able to strike a bargain deal with the agent or developer.

The only things I would say (and this applies to everyone buying overseas property, not just in Bulgaria) is...
- do your research - and research again
- get your own independent lawyer - not the one recommended by the agent or developer
- don't "leave your brain on the plane"
- do as you would do in your own country - read all contracts and understand them before signing
- don't pay cash - pay bank transfer with paper trace, make sure all payment receipts are marked with what the payment is for

Good luck and all best wishes

 

[Thor]

Hi Jain & Chris

Many thanks

I will let you know how it goes.

Kind Regards

Thor

 

[John]

Quest Bulgaria Property and Lifestyle Magazine - New Laws: Bulgarian Apartments

A link would be no harm

 

[Jain and Chris]

Hi John

Many thanks for that. We have now completed part two of this article written by Asja Mandjukova who is a partner with GPNG Law Firm in Sofia who discusses :
- new explicit rules for how the protocol for the meeting of the General Assembly is to be prepared
- the re-introduction of the Book of Owners (which was legislation abolished after communism) and how it can help in finding owners
- the new optional form of managing the common areas of the building - the Owners Association
- fines for breaches of the new Act
- the horror of management contracts in gated communities and potential solutions

You can find the article on our front page at the moment and it is the first of the featured articles at the top. I hope this assists everyone who has bought an apartment or in a gated community in Bulgaria.

All best wishes

 

[AttorneyIvanov]

Posting in forum

Dear Jane ,

Apologies for any misunderstanding that might have occurred. I stop posting the messages which you find inappropriate.

Regards,
Svetoslav Ivanov

Hello all

Just to remind everyone that on 1 May 2009, new legislation regarding apartment ownership/management comes into force in Bulgaria.

There are some big changes in the current legislation and we've covered the main points of the differences, the pros and cons in the first part of a two part article so that apartment owners know what is happening and how it may affect them.

All best wishes
Jain and Chris[/QUOTE]

 

[Jain and Chris]

Hello Attorney Ivanov. It is not a problem. You are a new visitor here, so it is not obvious what all the rules are. The best thing though is not to post the same thing in every thread, once is usually enough. If you keep posting the same message it looks like spam, which I am sure was not your intention. I've got rid of the repetition of the messages now, so it won't look that way for you.

Welcome on board! - and it would be great if you could help some of the buyers who have had problems here on open forum.

Indeed, if you would like to contribute an article to our site, you would be more than welcome and I will send it to our Editor.

All best wishes

Dear Jane ,

Apologies for any misunderstanding that might have occurred. I stop posting the messages which you find inappropriate.

Regards,
Svetoslav Ivanov

Hello all

Just to remind everyone that on 1 May 2009, new legislation regarding apartment ownership/management comes into force in Bulgaria.

There are some big changes in the current legislation and we've covered the main points of the differences, the pros and cons in the first part of a two part article so that apartment owners know what is happening and how it may affect them.

All best wishes
Jain and Chris

[/QUOTE]

 

[AttorneyIvanov]

Forum posting

Dear Jane and Chris,

Can you please provide me with some important rules for me to observe? Thank you very much for the understanding and appreciate your help in this matter. I'm considering sending an article to all the buyers with some general advice as to approaching developers and looking for a solution to their problems in Bulgaria.

Regards,
Svetoslav Ivanov


]Hello Attorney Ivanov. It is not a problem. You are a new visitor here, so it is not obvious what all the rules are. The best thing though is not to post the same thing in every thread, once is usually enough. If you keep posting the same message it looks like spam, which I am sure was not your intention. I've got rid of the repetition of the messages now, so it won't look that way for you.

Welcome on board! - and it would be great if you could help some of the buyers who have had problems here on open forum.

Indeed, if you would like to contribute an article to our site, you would be more than welcome and I will send it to our Editor.

All best wishes