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Back You are here: Home Property Buying, Selling, Renting Buying or Selling - Agent or Private

Buying or Selling - Agent or Private

 

A reputable agent will be able to advise buyers and sellers about the general price levels in a particular area and whether their expectations in terms of purchase prices are reasonable. Of course, to the Brit buyer who has jetted off on a private viewing trip fresh from the horrendously high market prices of the UK, a Bulgarian property can seem great value for money compared to a house in York or Cardiff. However, if you don't know how it really compares in the local marketplace you could find yourself lured into buying a pig in a poke.

Real estate horror stories

Much has been written about unscrupulous agents in Bulgaria and some buyers may simply be wary of estate agents generally. In the UK there is also a great deal of unfounded resentment towards this sector. It is worth noting that the huge majority of sales in Bulgaria go through without a hitch and there are thousands of satisfied Brits who have bought homes in the country. The reality of the situation is that most of the horror stories come from people who have done a private sale and have not had the benefit of an agent to check on land titles and to organize trips to the notary to register the title deeds in their name. Also those who have not chosen their own independent lawyer.

 

Many disappointed British buyers have not had the benefit of a multi-lingual agent and have often misunderstood what they are actually buying. Some buyers have bought privately on impulse using Internet auction sites like eBay, only to find that the picture and description of the property bears no resemblance to what they have actually purchased.

By using an agent you will find that most of these pitfalls are avoided. Many of Bulgaria's large agents have in-house lawyers who are responsible for checking the title deeds to determine who actually owns the property.

They will also ensure that you have a registered translator and solicitor to act on your behalf at the contract meetings. They will also provide English translations of all relevant paperwork to ensure that you understand what you are signing. When you hand over money for your preliminary contract signing, you will receive an official receipt detailing the transaction.

A small price for peace of mind

Buying and selling is an emotional time and property purchases often bring out the worst in people, both vendors and buyers.

Agents are independent of buyer and seller thus providing an invaluable buffer and they can take out much of the tension and stress from the situation.

Of course, this comes at a price but when you are spending thousands of pounds or even your life savings, then what price peace of mind and why take the risk of circumnavigating the professional?