| Message | Posted by |
| Is anyone else surprised at the fixed cost of heating 40 euros per week in the high season and 20 in the low? Is this average for these typeof developments? | Welshie |
Is anyone considering using the Bulgarian solicitors that BDB have recommended- Dimitrov Petrov and Co. ? I did not expect to pay 3.5% of the purchase price for transfer of title - in addition to the notary fees of 960 euro as per the information from Dimitrov Petrov and Co - or have I misunderstood? Are there other cheaper - but reliable Bulgarian solicitors?
Does anyone have any idea of how much we will be paying for water, air con etc?
Has anyone else heard of a separate charge for 24 hour reception??
| Welshie |
| I've just received my rental and management contracts from BDB. They're offering 50% to investors to join the rental pool. Just wondering about anyones thoughts on that. I think it seems quite excessive and was just trying to get an idea what anyone else is being offered for other developments | Boycey |
| I also have a friend who has bought on Two Rivers and he explained to me that BDB (who are developing the Grand) are no longer involved with this development and a Bulgarian shareholder now runs the development. This Bulgarian guy is improving the facilities to get better rental so it seems like a reasonable trade off at this stage however, it needs sorting sooner rather than later. I have contacted BDB their customer services girls are really helpful and it would appear that getting Protocol 15 is simpler because it is part of the building process and signed off by the Government dept in charge of the quality of the build etc, however, protocol 16 or ‘certificate of use’ is more difficult because it is reliant on the municipality forming a committee and inspecting the finished building for fire regs etc. This is out of their control and Bansko has big back logs but they are already trying to schedule this in advance. So we should be Ok for the next ski season.
I also spoke to them about compensation and in my view we have no real case, moratorium or not it is in our Preliminary contracts as force majeur and they can apply it to the time scales. It is pointless to go after this – the return versus the cost to achieve it, legals and time, don’t make it worthwhile. The most important thing is the complex is finished and looks good and we secure our investments by taking the notary deeds as soon as possible.
In the greater scheme of things I like BDB, they appear to be really helpful and try to make up for the delays, the web site is great and the apartment interiors look better than most I’ve seen. My advice if your uncertain just call them they appear to be keen to help. | simonh |
| My friend , who paid in full over a year ago for his apartment (Two Rivers) has still not got legal possession of the apartment. Apparently, there is a backlog of applications from Bnakso builders for governmment issued certificates. Has anyone else heard of Protocol 16 certificate and Certificate 15.? I am concerned because BDB will be chasing for the final payment - but it might be that we do not get access to our apartments until a year later!!! | Welshie |
Has anyone been successful in claiming compensation for the delay in completion. BDB were quick enough to write to us when we delayed the last payment by 2 weeks, pointing out that we would be charged a penalty as per the contract.
We all know that this force majeure is nonsense - the moratorium on construction during the ski season was known in advance and discussed during our sales trip.
It appears that some of you were also warned about the moratorium during your sales trips - but how can we prove this if there is nothing in writing???
Does anyone have any ideas?
| Welshie |
Like Mikey65 I have a properties around the world & UK and agree the delays are frustrating but in the full cycle of our ownership will soon be forgotten. BDB do at least return calls and do make an effort.
My major concern is the current strategy for the rental pool. Our longterm investment will depend on the successful marketing / rental to cover our bills over the length of our ownership. Bansko will be very challenging in the early years due to the over development. So we need to get it right.
Are many of you considering the rental pool?
1. Does the rental pack offers good value for money. I don't think so, What size quality is the TV, no toaster, no prints on any walls, one saucepan no cooking than. My estimate value even in the UK is £700.
2. Are we expected to make the committment before we have even seen the rental contract. The contract should have been the first document supplied not the last. This does make me nervous.
| Clive F402 |
I have bought 2 apartments in Bansko, one on Grand Bansko A205 and one on a development called The Royal Towers. I also have a large property portfolio and I think at this stage people are worrying too much. BDB have been a breath of fresh air compared to the other developer I have bought from in Bulgaria (and other developers abroad I have purchased from). I have found their customer service department to be very helpful or sometimes a little difficult to understand – emails help! They return my calls and have helped with advice on travel and hotels etc. I will not bore you with the details, but the other developer I have purchased from has been impossible to contact and never returned my calls. It is frustrating that the development is late, but as long as I’m kept updated it is unfortunately one of the joys on buying off plan and it happens everywhere. I speak regularly to BDB and I am sure all will turn out OK in the end. | Mikey65 |
I notice a number of you have asked what happened to Addison Read. I asked the same question a number of months ago when I contacted BDB in the UK. Addison Read was an estate agent who sold property abroad. The directors who owned Addison Read, then set up BDB. BDB was the larger and more successful of the 2 businesses and staff resources were split between the 2 companies. The directors decided to close Addison Read and it went into voluntary liquidation, which means all creditors and suppliers were paid up. This doesn’t affect our purchase on the Grand Bansko as they are too different companies, Addison Read the estate agent and BDB are the developer. Our contracts are with the developer BDB and not Addison Read, that is the most important thing to remember and put me at ease when I had this explained. | Dave S100 |
Have just received (by recorded delivery) a letter from BDB Cust Svcs in Bulgaria. This one says that Phase 1 completion will now be end-August 2008 and attributes the delay to the building moratorium as force majeur (not public area redesign as I was told on the phone).
As discussed in other postings, this cannot be force majeur as it was explained to everyone on the sales trip during December 2005, as one of the benefits of buying/skiing in Bansko.
I had a look at my preliminary contract and I am entitled to deduct EU20 per day for each day of delay from 30 November 2007 - the completion date stated in my contract. Also in the contract that this can be as a deduction from the final installment.
I will be writing to BDB to point this out. That way I will have some documentation should there be a dispute arising.
I suggest others check their prelim contracts. Mine was prepared by Georgiev Todorov and Co [office@georg-tod.com] but was based on the BDB prelim contract issue, I think.
I'll add a posting when I get some response from BDB.
I'd see the money as compensation for missing rental this season. I still believe that it will be finished for next season, though.
Write privately if you want to discuss anything further.
Happy New Year. | elgit |
I also have a unit in phase 1 and I had been looking forward to a ski-ing trip this winter, but to be honest I knew the completion dates given at purchase were totally unrealistic in view of the location they were being built. I work in construction and therefore when they didn't start excavation until July 06, I realized it would not be finished 18 months later. Surprisingly they agreed to remove the winter construction embargo as a 'force majeure' , but I'm sure they will try and wriggle out of paying any compensation.
I was very concerned to receive the recent letter chasing the third installment, together with an implied threat, seeing as Bulgarian Home Loans have been chasing them for the Ridge Level Certificate since July 07. I was expecting the letter to be an apology for late completion, together with the revised schedule. I have been advised that it is probably a scare tactic to get more money out of the investors. This is not a good sign if they are more concerned about chasing money than getting the project finished.
I'm living in Dubai and therefore I have not been pushing BDB too hard, however, this has been a very useful insight into othere peoples experiences and I shall now pay more attention to what BDB are up to. | paulfiona |
I have bought in Grand Bansko phase 1 and am getting very nervous about this investment. The property was-according to my contract- to be completed and fitted out by December 2007. Had a letter to say won't be completed now until April. The reason - 'force majeure' - I agree this is a load of rubbish. At the inspection visit, I was told that building would cease during the ski season and w2asled to believe that this delay was taken into consideration for the December 2007 completion date. WARNING- a friend of ours who has bought at Two Rivers complex has now been waiting more than 2 years for his deeds and paid in full a long time ago. Apparently, there is a 'tourist certificate' to be issued yet. Also, he has recently had a letter to tell him that he must pay 30 Euros a week for heating and air conditioning in the summer at 10 Euros per week. (in addition to the maintenance and management fee) and also a payment of 95 euros per year for 24 hour reception. None of these payments are mentioned in my contract, or were mentioned during the inspection visit. Has anyone else heard anything about these 'hidden' charges.? Also, please check out the article re hotels being pulled down in Bansko - the Grand Bansko is mentioned as building work being 'frozen' - Look at Standartnews.com 11th July 2007 - is this why completion is being delayed?? I have only just found this article and will be contacting BDB tomorrow and will post their response to you all asap.
Don't know why Addison Read has closed - was not given a reason but told wouldn't make any difference to me because this was simply the 'marketing' branch of the business.
Perhaps we should all use the same Bulgarian solicitor - just in case there is a problem - or am I being too pessimistic??
| Welshie |
Hi guys
I've bought in phase I (seems like ages ago) and am dissapointed by the delays but happy as long as they wait for the mortgage to be finalised at roof stage - the mortgage provider wont pay until they get act 15 certificate, which isnt ready yet. Don't think clauses in contracts will get us any compensation as this will be classed as unforseeable circumstances as written in their standard contract.
Latest I heard inbetween christmas and ny was that it will be ready towards the end of summer, definitely in time for season 2008/9. Has anyone been out recently to see the progress? someone mentioned getting a mate to take pics when they were out?
Anyone know how we can find the current market value of our properties?
Anyone know anything else about addisson read closure?
My experience of solicitor and bhl have been ok, but quite slow.
Keep in touch
Kenny | kennyn |
I have bought in Phase one, the building is delayed due to municipality clamping down on to many building being built and the mayor putting a complete stop to building in the ski season!
I for one am far from happy. I do have a clause in my contract that means I benefit from circa 30 euros per day that it is delayed but I think it will be worthless due to the circumstances, the builders will claim "unforeseeable circumstances" or some rubbish like that I am told.
Has anyone one else got any clause put in there contract?
Be glad to hear from anyone that has any news. One of my pals is in Bansko tonight and he is taking new photos of the plot for me. As soon as I have any I will post them on this site you guys can see how it is progressing.
Jonny | Jonny1978 |
Hi, i have just found this message board from Google. I am buying a property in Phase 2. I have same experiences as all of you. It would be good to keep in touch. I am hoping to visit Bansko for skiing holiday for the first time in March. I have contacted BDB Client Services and they said it shouldn't be a problem to arrange a site visit. I was hoping Phase 1 would be complete by then, I seem to remember December as a date, is that still correct?
Did anyone buy from Addison Read, I have just been on there web site and it looks like they have closed there offices. It should affect anything, they appeared a bit of waste of time anyway.
Has anyone been using Hristo Nihrizov from Dimitrov, Petrov & Co solictors or Bulgarian Home Loans. I would be interested in hearing your experiences | nigelpthomas |
Hi everyone,
Just had another look on this site, and was pleased to see that people have posted info.
I've bought A308 at Grand Bansko and (like boycey) was a bit disappointed at the delay to completion, but (like sammyd159) it does give more time to save the money and the price is fixed.
I spoke to the BDB customer services people and they talked about the delay being due to a redesign of the public areas. I didn't buy the original 'block on winter construction' excuse as they knew about that before they started. Don't think their 'professional project management consultants' are worth it though - as they are 6 months late after 18 months construction.
I'd be interested in keeping in touch with other buyers generally, and also whether other owners will be joining the rental pool or going alone on rentals. I'm sure there must be a better market with people driving up from Greece (rather than Balkan Holidays packages) - but I've no idea how to market in Greek....
Cheers.
| elgit |
| Hi everyone, I have purchased in the Grand Bansko Phase 2 if anyone wants to keep in touch. I am quite happy the build is delayed as it gives me more time to save for the next payment. | sammyd159 |
| I've just received a letter advising me that the Grand Bansko is not going to be completed by November 07 and is now not planned to be built until April 08 - not a happy bunny as this means I'll miss the entire 07-08 ski season | Boycey |
I bought an apartment in the Grand Bamsko (Block A apart 305) back in the middle of last year and have been starting to get excited as things progress. Rightly or wrongly I haven't yet been to visit the site or indeed the area of Bansko, and would be interested to hear from anyone who has. | richardl |
| hi folks, I've just bought an apartment in the Grand Bansko and was wondeing if anyone was in the same position. Think it wouild be of benefit to keep in touch | Boycey |