The New Inn

final payment
Hi this is matt and I have not made the final payment yet. I have up to date pictures of the New Inn and there are no Paths or roads Yet. It is certainly not finished

Hooray! New Inn owners found at last! It feels better knowing you are not alone. We should all keep in touch and keep abreast of developments. If we all hold off final payment until the properties are available to use, this has to help each other. Saftery in numbers and all that! I would love to see the pictures available if they could be posted or pm'd. I was putting feelers out about selling but only very half heartedly. I really want to be able to use the place but am very frustrated it has taken so long. I had expected to have had at least 2 or 3 holidays out of the place by now. I have family and friends all depsrate to go out there and you end up feeling a bit of a fraud! It's easy to get a bit wobbly when you hear nothing and it seems you are the only one. I was also short of the last bit of cash for the final payment but that has come through now - it's amazing how much you can make selling your crap on ebay!!!! When the apartments are finally ready for use, I will be planning a holiday with a group of friends (families)and will be looking for extra accommodation in the New Inn if any of you are renting out privately.. although that feels liek miles away! Maybe 2009 if we are lucky!! Anyway it's refreshing to find owners around - don't be silent "New Inners"

Thanks for the update Matt. Does anyone (else) reading this know if it is the norm to pay final payments on Act 16 or Act 15?

Hi Sam, There are generally two kinds of preliminary contracts in the Bulgarian property world. One is where the client pays his last instalment after protocol 15 and one where he pays after protocol 16. In both cases usually the title deed is signed before paying the last instalment. There are pros and cons for both cases. We started with contracts where the title deed was due after protocol 15. After some protest from some of our clients lawyers we switched to protocol 16. So now I have byers with (theoretically) different payment schedules. As it turned out we had protocol 15 in January but our building was still not usable. So we thought that we really should not force our clients to pay before our Pirin Lodge is finished and decided to give them a break until we get protocol 16. I personally would insist on protocol 16 (or more correctly: certificate for exploitation) before I would hand over my last instalment :wink: Good luck, Frank

New Inn
Vielen Dank Frank! So, you've all heard the man - or at least the three of us that are still bothered about our investment!!! So nobody pays a penny - or cent- until protocol 16 is issued in two thousand and whenever. Wish I new how to get in touch other purchasers so that we can all be united. I am also amazed how disinterested my agent is now that he has already had his big commission. I don't imagine that I shall ever hear from him again. They are your best friend when you are buying and as soon as you sign the contract they disappear!

Re: New Inn
Vielen Dank Frank! So, you've all heard the man - or at least the three of us that are still bothered about our investment!!! So nobody pays a penny - or cent- until protocol 16 is issued in two thousand and whenever. Wish I new how to get in touch other purchasers so that we can all be united. I am also amazed how disinterested my agent is now that he has already had his big commission. I don't imagine that I shall ever hear from him again. They are your best friend when you are buying and as soon as you sign the contract they disappear! FOR GODS SAKE!!!!!!!!!!!! No. You heared it from Frank :wink: . Your contract for what its worth should state when you pay. Now, if it states protocol 15 (whatever that is) and you decide sod this and go for protocol 16 (which is becoming your best friend with the utility probs.), then think again as your contract MAY say something like 'if you don't pay on protocol 15 then the dev. has option to pocket your money and wash his hands of you'. Hence, insisting on protocol 16 is all fine and dandy, but guys/girls READ THOSE CONTRACTS before you do, and realise there is an inherent risk in going against anything in the contracts. The contract will tell you what that risk is. AND GET SOME PROPER LEGAL ADVICE!!!! IF YOU CAN. If your contract was done on the back of a fag packet, well, good luck.

Good point, Michael! What really matters is what's in the contract. You cannot rely on a developer playing along with you if you change your mind about when to pay :D Once you sign on the dotted line it is too late (unless you buy from me, of course :wink: ).

Good point, Michael! What really matters is what's in the contract. You cannot rely on a developer playing along with you if you change your mind about when to pay :D Once you sign on the doted line it is too late (unless you buy from me, of course :wink: ). If your going to breach contract get some advice as a breach of significant nature may leave you well and truely stuffed. If your going to breach and there may be good reasons for doing so, let your solicitor know, and make sure you get advice and its done right.

New Inn
That's rich!! It's the developer who is one and a half years late in finishing the bloody thing - who has had all of our money in his bankaccount earning him interest all this time - and you are talking about us breaching the contract. Whichever way you look at it - and Frank is obviously of the same opinion - the developer is morally wrong to insist on full payment for something that cannot be used, rented out or sold. Would you expect to pay in full for a new car then be told you cannot have the keys until god knows when. There are also laws - at least in this country - covering unfair contracts and it is blatently unfair to be expected to pay for something that is obvioulsy worthless without protocol 16. Do you think that Bulgarian developers and English agents and everyone else with a vested interest in making a fortune from pushing apartments to naive punters would want the newspapers full of stories of nasty Bulgarians practically robbing helpless English buyers. The Catalan land grab law in Spain made quiet a big story - this could be the same.

Re: New Inn
That's rich!! It's the developer who is one and a half years late in finishing the bloody thing - who has had all of our money in his bankaccount earning him interest all this time - and you are talking about us breaching the contract. Whichever way you look at it - and Frank is obviously of the same opinion - the developer is morally wrong to insist on full payment for something that cannot be used, rented out or sold. Would you expect to pay in full for a new car then be told you cannot have the keys until god knows when. There are also laws - at least in this country - covering unfair contracts and it is blatently unfair to be expected to pay for something that is obvioulsy worthless without protocol 16. Do you think that Bulgarian developers and English agents and everyone else with a vested interest in making a fortune from pushing apartments to naive punters would want the newspapers full of stories of nasty Bulgarians practically robbing helpless English buyers. The Catalan land grab law in Spain made quiet a big story - this could be the same. It doesn't matter, the reason no one reads this stuff, is you fluff on like that. Check your contract, contact your solicitor, they have some of your money, they have a MASSIVE upper hand on you. If your not paying, realise you are in breach, try and mitigage any potential problems with your solicitor. Thats the basic problem, thats what you must address. Get a grip, offplan running 1-2 years late is the norm. Utility problems are a common problem now in many places. In addition, as a last point, not paying creates potentially a vicious circle, which will ensure your dev. will never be complete.

Do not pay the final payment we must stay together on this and just think if he has all the money it will never ever be Finished obviously.

I have had a technical survey on my apartment and there are many defects due to bad workmanship. Also it is not complete I am sure yours will be thye same. The Technical Survey cost 200 euro money well spent as you can highlight all the defects and use it as an excuse not to pay the final payment. You get many pictures and a full report on the survey. I suggest you all get a Technical Survey if you care about your property

I have had a technical survey on my apartment and there are many defects due to bad workmanship. Also it is not complete I am sure yours will be thye same. The Technical Survey cost 200 euro money well spent as you can highlight all the defects and use it as an excuse not to pay the final payment. You get many pictures and a full report on the survey. I suggest you all get a Technical Survey if you care about your property Clearly someones being doing his homework. Where did you get the technical survey from?. The point was to communicate these sort of points through solicitors and ensure rather than just not paying, to make sure you have a case and it is put forward for the reason for not paying, as breaching contract could have serious consequences.

Just ask your Lawyer for an independant Technical Survey of your apartment a.s.a.p this should be obvious if you do not have time to go and see for your self otherwise it could be falling to bits for all anybody knows. I cannot believe everyone else has not allready had a survey English people need Educating including myself. Off Plan is a mugs game anyway we take all the risks. Never again for me thats for sure.

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