Royal Bankso Park and SPA

snagging 7th may
Hi Pinhead , I have also had a snagging survey carried out ,you are welcome to have a copy {anyone can if they wish} Iam also waiting for the kitchen to be fitted and a few snaggings to be sorted . I have had the final payment from Savina at Bg ,you need to check this my Ist installment is 1,000 euros short to what i paid the sales agaent {will have fun there then!!!}. regards Cracker

Hi everyone, I too have bought at the Royal Bansko Park and Spa, but I have only just discovered this forum. It sounds like you are having the same problems as me. Firstly, the development is way behind schedule. The developer is refusing to pay the penalty claiming, instead, forcemajeur circumstances. As we all know this is very unlikely. Even if there were some circumstances the development would still be way behind schedule. My solicitor advises me that it would be best to make the final payment and pursue the claim in the courts and I would have a good chance of success. However, this would damage the relationship with the developer and they may not rent out the property. Secondly, the developers seems to imply that if we do not get their furniture pack then they will not rent out the property. I don't know about you, but I think their furniture pack is way too pricey, but it seems as though we have no choice. So the question is do I go it alone on the furniture pack and renting and pursue my claim in the courts? Or do I pay up, get the developer furniture pack and not bother going to the courts for the late completion of the development? I would be interested to know what everyone is deciding? Regards, Flipper2

Hi Flipper 2, There is a trick some developers use : "you either take my pack, or I'll be not renting out your apartment". Look carefully at the rental contract they offer you , BEFORE agreeing to buy pricey furniture!!! Most developers are trying to sell their packs with a promise they will "rent out". Did they give any sort of written guarantee what you'll get from rentals? You must be careful if they promise again, even if they give you a "written guarantee". What happens if they refuse to pay the guaranteed rental? There are some "cases" in Bansko - developers refusing to pay the "guaranteed rental" with excuse ("global economic crisis"). What option will you have if this happens? Sue them? It's good to ask your lawyer about all scenarios. It is important that you read PERSONALLY the contracts. Best, Jack

penalties
Hi Flipper2 We did ask our solicitor about claiming late penalties from the developers but she said they were allowed up till the end of May before they would come into force...amazing how it was completed before June!I would still get your solicitor to look into it. As for furniture packs we have decided not to opt for the expensive ones offered by the developers. We think they are way over priced and like has been said before rental income not guaranteed. regards Louise

Thanks Jack and Louise for the info. I now have the management and maintainence contracts so I will have a look at those in detail. Can anyone recommend furniture suppliers and also what are the renting options if not done by the developers? I can see the attraction of renting the apartment out as part of the complex, but I am not sure whether I can trust them even if it is all written down in a contract. Regards, Flipper

While it's absolutely none of my business to interfere with other developers I would like to remind you guys to use your common sense. Bansko is a very difficult rental market. Before the boom in Bansko the whole Bulgaria had no history of rental apartments. They did not exist. Bulgarians still don't rent apartments. They go to hotels. Cheap or expensive, according to their wallet. Which leaves renting to foreigners. While the number of Brits in Bansko has increased dramatically only few of them come here and rent - most of them are owners. Which leaves the Greek, Serbian, Romanian and so on markets. Rental guarantee, furniture packs or not -just ask yourself: does my developer who wants to handle the rental side have a history in the letting business? Does he have experience- especially with non-Bulgarian markets? Because if he cannot show any history in this business chances are that you won't have any rentals anyway. Outside winter you cannot fill Bansko with main stream tourists. You have to explore niche markets. And if your developer does not have a clue about that you might be better off pursuing your own clients. People like harrowell obviously know how to do it. So: use your common sense before making any decisions or fork out your money. Good luck, Frank

main forum
Hi everyone, can you help ,iam unable to get to the main forum site for RoyalPark any ideas what iam doing wrong???dont want to miss anything now we are so close !!!!!! cheer cracker

forumer.com/viewforum.php?f=128" target="_blank">http://talkbansko.6.forumer.com/viewforum.php?f=128 Try this link? Can anyone help or advise what they are doing? I am awaiting my snagging report but I believe that there is no electricity or kitchens fitted? Is everyone paying the final installment regardless of the snagging findings?

COMPLETION
Hi Alan thanks for the link , i have had my surveyor take a look this week ,some snagging still to do, kitchen is fitted {not much }WATER IS ON I HAVE PROOF ,OR IS IT SOMEONE WITH A WATERING CAN BEHIND THE WALL ????,i have no intention of releasing last payment until totally happy Regards Dave

ref forum link
Hi Alan, tried link says not available i give up ,thanks anyway

Dave, Are you logged in or it won't show up? BTW this is supposed to be a kitchen!: http://farm4.static.flickr.com/3629/3595216335_68f9dbd61b.jpg?v=0

Hi Alan, it says the forum you selected doen't exist {even when iam logged in or out}, great kitchens NOT!! i think this is a joke .have you rased your concerns????? cheers Cracker

JSC
Hi frank, I bought into the grand bansko complex, and have been in this mess with the joint stock company. I'm not going for this and instead taking title like i think/hope alot of owners will do the same. The developer has written to each indivual owner saying that owners will recieve dividends from there investment if joining with them. I admit i was considering going with this option but now am taking title, but what i'd like to know is if i hand my apartment over to a managment company in bansko would the jsc in the grand be able to stop other companys coming into the complex to manage individual apartments. Would this be illegal? Also is there enough of a rental market in bansko to have it rented out for the winter season to cover all costs? Also apart from the maintenance fee's, property tax, and rubbish collection what are the other costs for owning a apartment in bansko? Your veiws please frank..... You seem to know the lot. fruit-salad

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