Manchester United

I have just heard that Alex Ferguson is looking to build a new stadium in Gorna Oriahovitsa. It is suggested that it will promote and host up to 15 different sports.
Follow the link to read more.
http://news.guide-bulgaria.com/NC/Veliko_Turnovo/Gorna_Oryahovitsa/Gorna_Oryahovitsa/News.aspx?8340=Sir_Alex_Ferguson_plans_to_build_a_stadium_in_town_of_Gorna_Oryahovitsa
Now we need to get the airport there opened, it will allow weekend travellers to the area and increase property prices here.

New Companies

When foreigners come to Bulgaria to live and buy houses or land it is a requirement that they have a company, this is easy to set up and nowadays only takes a couple of days to achieve. One of the things needed is a company bank account with 5000 Lev in. This was to show the goverment that you had enough funds to run a company, these accounts are closed just after forming the company, a waste of time as far as I could see. But the law looks to have been changed, or so I am informed! It is now still a requirement to have this account, but you only need to place 2 Lev into it! Please do not ask me why......Still a waste of time as we still will close the account. We have yet to try this, it maybe like the "new" law which says that you do not need a company to buy a property in Bulgaria we all heard about last year, try it.....it cannot be done!!!!!!!
I thought I would let you all know that this MAYBE the new way. Watch this space.

New Website

I am in the process of setting up a new website, it is live, but not finished. The address is www.buybulgarian homes.com, the idea is this, I have a lot of people asking me to sell thier property, but as I do not have an office this is quite dificult. So the answer is to make a website where vendors can offer thier property for sale for a one off fee. The property stays live for the time it is for sale, any enquireies go directly to the vendor.
The advantages for any vendor are:-
They can choose the advertising package they want, 4 images, floorplans, video
Cut out estate agency cost's
Deal directly with potential buyers.
Have the back up of a real professional.
Negotiate your own deal.
Offer the property at a reduced cost, thus attracting more clients.
So if you know anyone who has a property that could benefit from this kind of advertising, please tell them about this new site.

Good Value Homes

I have now been talking to several local people in the towns and villages of Veliko Tarnovo, Resen, Stefan Stambolovo, Polski Senovets, Samovodene, and have located several very good value properties.
As I have mentioned in earlier report's on this site, as soon ans the people realise that your British, the price doubles!
However I have now been dealing with people who are realising that the market is slow and they need to be sensible about the pricing of thier houses.
I have several 2 and 3 bedroomed properties starting at 18,000 Lev (around £9,000). Yes they require work, but for that small amount of money you can spend another £9,000 and have a very nice renovated home.
Don't miss out, these prices cannot be around forever.

Current Climate Etc.

With the way the world is right now everyone has to be open minded. I am seeing no new ideas coming from the estate agencies here in the Veliko Tarnovo area, estate agents should be making serious changes to the way they work in this buyers market. It is interesting being able to sit here and listen to agents who have no new ideas, just recycled ones.
OK, you cannot re-invent the wheel, but most of these agencies doing nothing will close very soon.
I would like to take on an office and show them what is required, but now is not the right time for me to do this.
If agents want help and are willing to listen, maybe I will help some of them.
Serious buyers are in the strongest position they have been in for years over here right now, vendors need to be motivated by agents and they buyers need to show thier cash. This will make deals if they are put forward correctly.
Life is still good here despite the poor exchange rate, where else can you have a night out in a bar for less than £10? Oh! That's with food!
60p a pint in our local.
Come and see, meet Meggie and Sasho, the foods good too.

Economic Recession

The world econonmic recession has hit Bulgaria!
Many estate agents here are reporting a big down turn in bussiness, some have had to close offices others have closed thier doors for good. This can be seen as a bad thing. I believe what we are seeing is survival of the fittest.
The ones who are adapting the way they work, working smarter and more efectivly will survive. For Bulgarians this is a new thing, a decline in sales, fewer buyers and desperate vendors. There is no way to train people how to deal with these events. You have had to go through it to know. The UK suffered in a smaller way in 2003, all was well until the end of July. I was selling 4/5 properties a week at that time, our family holiday to France was great a real break from the work load. However upon returning the work load increased by having to keep together chains which were about to fall apart and no new sales! I was lucky to be working with people who had been through this before, they always said stuck it out and adapt your ways. So I did and am I glad.
So now it's time for everyone world wide to do the same, here in Bulgaria agent's need to be firm with vendors and buyers, we are dealing with more motivated clients now. Many vendors who before placed thier property on the market used to say "It does not matter if it tales a year to sell" now are holding off. The true sellers are looking for good advice and reassurance, buyers should be most motivated. They are in a great postion in Bulgaria, as you will probably not require a mortgage, so as a rare breed now vendors are listening to offers.
There are two properties on my blog, one reduced by an amazing 30,000 Euro's and the other by 16,000 Euro's. If your sitting reading this, wondering about living the easy life here, get off your bum and bring your wallet there has never been a better time to buy. Even if it is just a holiday home for now.
There is a saying "Make hay while the sun shines". Well there is a lot of sun here.

Property idea

Please check out my properties for sale. I have started a new way of showing them.
Any constructive comments are very welcome.

Registering cars

I have now got the new car registered here in Bulgaria.
The process took nearly all day, mainly because of the different departments you have to go to. Then there is the fact they close for an hour at lunchtime!
There is however a man who I know that does make the whole process a lot more bearable. You take in your car, V5 and passport, he then takes you to the insurance company to get insured, off to the "Kat" office and pay for the MOT test. Sit around for what feels like ages while the car is tested and recieve the pass certificate. After this, you buy the road tax, (67 Lev), see the local police man who checks and stamps the documents.
Almost there, Off to the office that gives you the plates to go on the vehicle. However as your car is a new import, you have to wait whilst they make a new registration document, this takes about 30 mins usually.
With new plates in hand it's off to the garage for them to fix them onto the vehicle.
Back to the insurance company with your new registration number to go on your policy, nearly legal now!
One last place to go, the local tax office. Here in Bulgaria you have to pay a yearly tax, like a property tax on vehicles, so it needs to be registered there. This tax is around 150 Lev per year.
So, due to the amount of offices required to go to, I do strongly suggest that you get help, the total amount payable is around 700 Lev. But consider the fine if caught without being legal. The minimum amount is a fine of 500 Lev, this can increase up to 2,000 Lev! Is it worth taking the risk?

Driving To Bulgaria

Well I have heard several ways to drive over from England to Bulgaria. On two previous occasions I drove through Serbia, it must be pointed out that you do have to buy extra car insurance for the trip as they are not in Europe. This insurance will cost about £100.
However I have just brought a car over from England and thought I ought to at least try another route, so Romania it was!
I must say that I will never do that way again. The roads in my opinion were worse and more single carrageways. If I had used Serbia, I think I could have saved a few hours and a night out.
The roads in Serbia are much better and you can continue at a good speed.

Vacant Property Care

I am now in a postion to offer a vacant property gardening service or just a check over on a regular basis.
The options are
1/ A general gardening service to keep the weeds and trees in order, along with the opening up of the property to air it through and dust out all the cobwebs that gather indoors.
2/ A decorating service, maybe you would like the lounge re-painted.
3/ A visit to an empty property to check that everything is in order and that nothing is missing and make sure the gates etc are still locked.
4/ Wood delivery and a cutting and chopping service. Wood is ordered from the local Mayor and the delivery driver leaves it outside of your gates in 1 metre lengths. So it needs to be moved and cut. This will mean that you do not have to spend your holiday time cutting wood to keep warm in the Spring, Autumn and Winter.
5/ General building work or maintance.
Prices vary as the the amount of work required, also the distance to travel to a property.
Please email me at propertylocatorbulgaria@hotmail.com with your requirements.

Renewing British Passports

Many people ask how do we renew our expiring passport.
Well at present, the procedure is that you have to apply at the British Embassy in Sofia in person and then your application is sent to a centralised bureau, (in Vienna) for processing. The new passport is sent back via the diplomatic bag to Sofia and when they receive it they phone you to find out if you are going to collect it or whether you want it sent by courier.
It however is set to change in March.
The centrallised office will then be in Dusseldorf Germany!
All applications together with payments will be made online. So it appears that someone has seen the way forward, this should be much quicker and less time consuming.
I will just like to point out that just because they say this will happen in March, it may well be later. If I get any further information on this subject I will update this post.

Great News

I work independantly to help bring the best selection of properties to clients looking to relocate to Bulgaria.
I have just spoken to another three real estate companies who are more than happy to work with me. This will give me more properties to vet before visiting clients arrive.
The slow down in the world property market means that everyone is eager to help each other more than usual.
This news is good news for potential clients. So if your thinking of making the move, then let's get on with it while the vendors are happy to listen to offers.

Company Accounts

This is now the time to get your company accounts sorted out.
If you live in Bulgaria and own a house with land you must have a company. Every year just like in the UK you must submit your yearly accounts.
This is not difficult, if you live here you can get an accountant and they will do everything for you, if you do not live here then you must have someone here who has a power of attorney for your company.
This is important, if you do not submit the figures by March there is a fine to be paid. If you do not have any income from your company then you will not pay any taxes.
Cost's vary from around 100 Euros up to about 350 Euros. I will pay 150 Euros this year, it is the same accountant I used last year, they keep your accounts and figures so it is easier to use the same one. Just like in the UK.