The Phoenix Project


Recently I have been watching some of the YouTube videos for The Phoenix Project. 

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

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 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 cousins 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. 

Another problem when buying a property in Bulgaria issue 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 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 readers on this YouTube channel have suggested, and instead try to buy directly from the seller? Well, often you can't 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. 

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. 

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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