The Phoenix Project

Recently I have been watching some of the YouTube videos for The Phoenix Project. After receiving a very angry message from the makers of this series of videos, I thought it best to delete some of my comments, as they did not like anyone disagreeing with them. Having had my article about property in Bulgaria published in The Daily Mail and after we appeared on Bulgarian TV, I am really not an expert on these matters. Irena and I have only bought three different properties in Bulgaria, in three very different regions of Bulgaria and over the last twenty odd years, so these Phoenix people obviously know much more about the ins and outs of property in this country than we do. If you post a video on the Internet, then of course no one should ever dare to criticize or disagree with anything you say. In any case, I am just a humble blogger and so I do not have the celebrity status of a YouTube star. 

One of Peter's photos - the view from the end of the garden

The folks of The Phoenix Project seem to have fallen out with their agents. What a surprise! Yes, estate agents (or realtors, if you are an American) in Bulgaria can be a pain. One little problem is that in Bulgaria there are quite a few property owners who sign legal agreements with estate agents, so that the only way you can buy that property is through that particular agent. This means that often you must deal with that agent, however bad you might think they might be, if you want to buy that property. 

Yes, some estate agents in Bulgaria are a bit incompetent, lazy and unhelpful, rather like their colleagues in the UK, but at the end of the day it is your decision whether or not to buy this or that property. No one is forcing you to use the services of this or that estate agent. In Bulgaria, some agents will help you to arrange for the electricity and water bills to be sent to you, the new owners, and maybe sort out one or two other problems. However, an estate agent is not there to give you long-term help and advice. This is particularly the case if you buy a cheapie "renovation project" at the bottom end of the market. 

Another problem when buying a property in Bulgaria is that very often estate agents will not cover the whole of Bulgaria, but only a fairly small area. 

The logo of Yantra Homes
My wife and I are big fans of Yantra Homes, but Yantra Homes only cover the Veliko Tarnovo region (aka "Tarnovoshire", as it is full of Brits) and that is not much use if you want to buy an apartment in Sofia or something on the Black Sea coast. 

The terrace and the old wooden columns

So is it better to avoid agents altogether, as some of the commentators on this YouTube channel have suggested, and instead try to buy directly from the seller? Well, often you cannot do that, if the vendor has signed a "closed shop" agreement with an estate agent. 


Secondly, how are you going to find out about properties that are for sale? Lots of properties are advertised by estate agents, but how do you find out about private sales by vendors? Not so easy. 

Recently someone said to me that maybe you could just go to a village, find the kermit (or Miss Piggy) and ask him (or her) if there are any properties for sale in that area. 
Well, actually it should be pronounced "kmet" and not "Kermit".
 
Well, yes, you could try that, assuming that you can actually find the mayor and she (or he) is willing to talk to you. Oh yes, and there might be a little problem if the mayor does not speak English. Even if you can find the mayor and he (or she) does speak English and is prepared to show you some properties in the village that are for sale, you probably will not be able to see inside them because the chances are that the mayor will not have the keys.     


Thirdly, estate agents will usually have the keys and be able to show you a property that is for sale, even if the vendors are out of the country. If you are a bit short of time, then it might not be possible for you to see the property if it is a private sale. In the UK, we are used to seeing big "FOR SALE" signs, usually with the name of the estate agent, but these signs are by no means the norm in Bulgaria. 

Fourthly, most estate agents in Bulgaria will be able to drive you to see a property that is for sale. If you really do not know the area and you do not speak Bulgarian, then arranging a viewing and actually finding the property might be just a little bit difficult. No, I do not agree with the rather racist idea that all (or most) Bulgarians see foreigners as cash cows. It is your own decision whether to buy that property or not. You might think it's a wreck and a waste of money: someone else might love that property and think that it is a bargain. If you do not like what is on offer and you think that the price is too high, then my advice would be to smile politely and walk away.





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