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eBay Bulgarian Property Bargains

Selling on eBay has forged the incomes of many small traders over the years. The site sells everything from cars and computers to meaningless trinkets, antiques, clothing and kids toys. There is no site dedicated to Bulgaria, however many Bulgarians trade legally on eBay because you can list on any site in the world without having to live in that country. Items for sale can also be posted world-wide to attract a bigger audience.Many Bulgarian properties are now listed at low prices on the site and there are numerous bidders taking advantage of this. We take a look at eBay’s Bulgarian property market

 

 

A Household Name

eBay is the world largest online auction site with sites in over 30 countries. Over the last five years the company has become a household name with millions of members selling everything from broken laser pens – the first item ever sold on the site, to a disgruntled wife selling her errant husband’s Lotus Esprit car for 50p. The site is used by large global companies like IBM to sell their newest products and services and by the rich and famous people; former British Prime Minister’s wife Cherie Blair is a regular buyer having purchased a pair of red stilettos for GBP 10 and Disney videos for GBP 1.99 amongst other items. Most items are sold via eBay’s Dutch auction but you can also buy at a fixed price called ‘Buy It Now’ or through an eBay member’s online shop.

Bargain Bulgarian Properties

Auction properties tend to start at anything from 800 to 1,000 pounds and are usually listed for 7 to 10 days on the site with the majority of bidding taking place in the final hour before the listing closes. Most tend to be renovation projects in rural areas, which are being sold by real estate agencies although private individuals also sell their property here too. Each listing includes a general description about Bulgaria with details and pictures of the area where the property is located. A detailed description and pictures of the property follow along with payment terms, which are usually in the form of a 10% deposit payable via bank transfer within 3 days of the auction closing. You still can’t get away from the fat that in Bulgaria all foreigners must open a company to own property and all of the sellers mention this fact with some offering great deals to make the process smoother; Seller bghomes, a real estate agency in the Veliko Tarnovo region is offering to pay the 5,000 lv. deposit you need to make into a company bank account. The reason behind this offer is simple; once your company is formed the money can be withdrawn straight away and as bghomes rightly points out, ‘we save you the inconvenience of carrying £2300 cash with you to Bulgaria, exchanging it twice, first into levs and then back into pounds.’

Properties on Offer

There are some real bargains for sale on eBay at the moment; the seller bulgariadirect is offering a house in the town of Bregovo, 20 minutes from Vidin and only 3 km from the Serbian border. The house comes with 3,240 sq m of regulated land and biding currently stands at GBP 4,700 with seven active bidders. Better still this seller has some amazing deals for those who make multiple purchasers; if you win the auction for two properties within a month you get your company set up for free and if you buy 10 houses you get a free house making 11 in total as well as a free company set up with no need to pay your company bank account deposit and free accountancy for one year. If you want a location closer to the sea, then seller simonirish has two bargain properties on the same plot at auction currently at GBP 1,000 with one bidder and less than a day to go. The properties are in the village of Polyana, 40 km from historic Nessebar and need some renovation work, but offer a substantial bargain even if the treble in price.

It’s not just properties that sell on eBay. You can also buy regulated land with one seller offering the ‘last regulated plot in Bulgaria’ at a start price of GBP 383. The 500 sq m plot of land is located on the Bulgarian border at Rakovitsa near Vidin and in terms of being the last regulated plot it probably is in terms of it being located on the border. With 7 days to go and bidding currently around the GBP 880 mark with three active bidders, but even if it trebles in price it would still represent a bargain at just over GBP 5.00 a sq m.

Buy It Now

If bidding for a property is too stressful for you, take a look at the fixed price properties on eBay. Seller likehomes-bg is offering a home in the village of Gorica near Tragovishte for a fixed price of GBP 8,500. It has a 1,500 sq m garden and is in need of refurbishment. The seller is prepared to take an offer on the property so you could get it for a lot less than advertised. Seller tronexlimited is offering a beautiful one storey home in a village near to Pleven. The property comes with 1,820 sq m of garden and has undergone some renovation. Whilst you have to pay your own company set up fees, the owner will take payment via eBay’s payment and money transfer site Paypal and he is prepared to take an offer.

Buyers Beware

Properties on eBay genuinely exist and most sellers provide very detailed and accurate information with a good selection of pictures. You should first of all check out a sellers credentials to see if they have a good sales record with eBay. All sellers will have a number and a coloured star after their name, which will tell you how many transactions they have made. If you click on the star you can read what the seller has sold and how each buyer rated the transaction.

You also need to understand exactly what you are buying in terms of the properties structure and condition and its location. eBay sellers tend to oversell the location to mask the fact that you are buying in a Bulgarian village, most of which offer little more than a grocery shop. Information on the fabulous surroundings is often included with genuine distances to the nearest town, however, you should be aware that travelling to the nearest town will be along single carriage pot-holed roads and this adds to your anticipated journey time. Likewise those sellers detailing longer distances to the capital or the coast fail to mention the lack of motorways in Bulgaria and again your journey is likely to be on single carriageways for most of the drive.

You must be sure what you expect to gain from buying one of these rural properties. Under the current economic climate you are not going to make a quick sale and such investment should be viewed as long term. Placing a bid and winning an auction is an adrenalin rush, but you need to be aware that your property purchase is far from complete and will require a trip to Bulgaria to sort out documentation as well as some additional costs to set up your company. Nevertheless, if you are looking for a holiday home far from the ravages of tourism, eBay properties do offer excellent value for money.