Have you thought of alternative property?

In the last few months lot of Developers, stricken by the effects of the global financial crises are unable to start or continue the construction works of their planned complexes. Many Buyers have already paid deposits or installments on their apartments and now they are at a loss.

Developers offen are unable to settle their accounts with a number of real estate consultants and purchasers. Companies attempts to raise funds under conditions of economic crisis turn out to be unsuccessful. Due to the lack of any available funds Developers cannot refund the money of their Buyers.

On that condition Buyers have two alternatives: to go to the Bulgarian Court and claim their money back or think of relocation.

Frankly speaking, conducting of a lawsuit in Bulgaria is a lengthy procedure. Chasing the Deveoper’s company through the Bulgarian Court make sense only if it possess significant assets.

The lack of any clear resolution with many building companies have made us contact a small number of preferred developers to try and structure a deal that could enable our clients to transfer to a similar property without financial penalty. We are pleased to inform you that we have been successful in arranging relocation for our clients in a complex in the vicinity of Bansko, very near to completion.

The new Developer have agreed to transfer the value of the deposit/ installment already paid to the first Developer towards an apartment of the same value or higher in the complex.
In exchange for this clients will need to terminate their existing contract with the first Developer and assign The new Developer rights to claim receivables from the first developer if they become insolvent.

VIP Consult have carefully investigated the legal aspects of the exchange process, conditions of transfer and have drawn a positive conclusion on the situation.
Should you experience such difficulties with your investment in Bulgaria or wish to receive more detailed information, please do not hesitate to contact us at +359 52 603 183 or info@vip-consult.net