Welcome to my site.

Please let me introduce myself, my name is Mark Wright and for more than eight years now I have been in the real estate business, mainly within the UK, where I became an office manager with a leading estate agency group. After moving to Bookavets near Veliko Tarnovo, Bulgaria in March 2007 I did not work for several months, then for 10 months I worked for one of the largest real estate agencies in Veliko Tarnovo, helping train the English speaking Bulgarian agents, who deal with the International clients.
I am now working independantly locating properties for buyers, who are looking to relocate around Veliko Tarnovo, Resen, Hotnitsa areas. Working on their behalf, I can access far more properties and select only ones suitable to my clients thus cutting down time spent looking at non suitable abodes.
I live here with my wife Sally, and son Shane, (our daughter Teri, lives in Swindon Wiltshire.) in a large village called Resen, just north of Veliko Tarnovo. We enjoy a stress free lifestyle that we could only imagine whilst living in the UK., long hot sunny summers and cold snowy winters.
There are quite a few Brit’s within a few kilometers of us, but mostly we talk to our Bulgarian neighbours, slowly, as we do not speak fluent Bulgarian yet! The local people are very friendly and will often pass you small gifts like fruit and Rakia (local home made whiskey) We for our part return their friendship with home made cakes etc.
Our British friends are great, we meet up quite often to help each other with new products found, or general information we have gathered. Sometimes just for a coffee or beer!
I have found that many British come here looking to buy property, but do not know where to start. I have a few key questions that I like to ask, this gives me a real insight to what they are looking to achieve. As I have been through the process and now know the pitfalls, hopefully I can save others the heartache and stress of searching for the right property.
I can help with all the details required in buying property here, from setting up bank accounts to opening your company, this is required when you buy a house with land. I can source any kind, from land/apartment/house/office even hotels.
Let me know how I can help you.
If you have any questions about my service I can provide you with names and email address's of previous clients who would be happy to tell you more about me and the level of service provided.
Please read all the "post's" on my blog, at the bottom of each page you can click a button for "older post's" this just means "go to the next page". You should find a lot of useful information contained here. If you feel the need for anything else please let me know and I will be happy to oblige.


Friday, June 27, 2008

Buying in Bulgaria

Many people do not realise that when you come over to Bulgaria to buy a property what you need to have with you. So I would like to let everyone reading this know exactly what to have.
Before leaving the UK, register with a money exchange company, I have found World First to be the best so far, Miranda Kelly is very good at her job and can help you get sorted. Her number is 0207-8011062.
After arrival, I recommend opening a bank account, this can be in Euros or Sterling. This will mean depositing around 25 Euros to open the account, then when monies are required from the UK, it can be transfered into this account.
When a property has been reserved, outgoing expenses are as follows.
1/ 10% deposit to reserve the property and have it removed from advertising.
2/ 550 Euros to set up a company. To have a property with land it is required to have a company, if you want just an appartment a company is not required. Think of a name to call your company.
3/ 5000 Leva (around £2,600) to place in a seperate bank account to show you have funds to operate your company. This money can be used to help pay the balance of the property when the company is set up. The company set up can take around 7 - 15 days at time of writing this.
4/ My commission, sorry but I have to live! So I charge 3% of the property value, with a minimum charge of 1,000 Euros.
5/ Decide if you want to come back to Bulgaria to conclude the purchase, or leave a power of attorney, this is the best way, but it is you who decides.
After the company is set up and we can conclude the deal. Costs then are as follows.
1/ Balance of the property cost.
2/ Notary (Solicitor) fees and taxes (like stamp duty), this is dependant on the cost of the property, however around 4% of the property cost is about right.
3/ 50 Euros to have the property registered in your company name. You can do this yourself for free, if you have the time and can speak Bulgarian!
4/ 50 Euros to have the water and electric transfered into your company name, again you can do this yourself, if you have time and can speak Bulgarian!
In all I would suggest that you decide how much you want to spend on your property and then work out how much you need to bring. You could, if your staying for a week or more, open the bank account on the first day here, and having already registered with World First, ask them to transfer monies over. Be aware, it takes 3 - 4 days to get the money over. You cannot go to a bank and withdraw money from your UK bank account with a debit card.
Please take this as good advice, as you could find your new home at risk of someone else buying it before your ready!

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