sale of apartment in bulgaria

D

duck1

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hi
i have an apartment in promorie,i got the local estate agent to put it up for sale last summer.i herd nothing until today when she contacted me to say she has a buyer, and he would like to purchase the app by paying a deposit on sighing the preliminary contract ? a second payment next month and the balance in december

my question is what is a preliminary contract and can anyone recommend a solicitor / notary in this area
 
great news that a buyer has been found but seems rather unusual that they will pay a deposit, then a second payment and then balance. Usually 10% deposit is paid on the preliminary contract and then balance on completion. The preliminary contract sets out the conditions for the buying/selling agreement. Completion usually a couple of months later.
 
Duck if the place is complete in December then that is a reasonable way to do it. I would expect the payment terms offered to the new buyer should be the same percentages you were offered.
So if the place was 100K and you had to put down 50K its 50%. If your selling now for 120K the new buyers deposit should be 60K which all goes to you, your money back plus your profit (or your loss as may be the case) I imagine the agent is going to want commission as well. A fair solution would be to give them a portion of the commission now and the rest when they sale is complete on completion of the unit.

If the unit is already complete then there shouldn't be any preliminary contract. Otherwise you are in a sense you are giving him 0% finance personally until he pays up. One thing is for sure is he doesnt get the unit until the contract is paid up otherwise you might find it pretty hard to get your money....
 
Guys, any chance I could get the name of the agent cos I got to sell an apartment fast in Bulgaria? Was the client Russian or does the agent deal with Russians. Reading the news feeds, apparently its only Russians that are buying. Anyway, any help would be good.
 
Hi Scrambler, anyway you can send me the details. I dont know what other way to get in touch to find the name. Looking for a good contact their. Thanks in advance.
 
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