Anybody heard anymore about the next payment? I was told I would get pictures emailed and I a letter for next payment a while back but nothings happened on either of those.

New Inn
I wonder why?????????

New Inn
Hey -surprise, surprise. I have just received a copy of Art 15 for the New Inn. Maybe Chickenman was wrong after all. I have just had a quick glance at it but I notice on page 3 of the translation that it states "Designs approved on Dec 15, 2006 by the chief Architect of Bansko" Now I know that Bulgaria is a couple of hours ahead of the UK but I had not appreciated that it was 9 days ahead! Most peculiar! I think that I would like to see some photos........ what do you all think?

New Inn
I would be very careful here. I have brought into a development next to New Inn. There will be no water until Spring 07. Therefore no Protocol 15/ I cant see why New Inn would have got that certificate without water. And I cant see how they have water when no-one else in that area has it. I would check and ask exactly that question. Londonman

I have had an email telling me that the properties are ready for rental for this ski season!!! They are asking me to sign up to a tour operator deal. The link to the agent website is embarassingly poor! Seems only to have The Monastery apartments and the New Inn. The New Inn ones are shown as Euro 0.00!! Bargain!!! The sceptics are right - we will never get any rental income at these rates!LOL I am very suspicious - the recent photos do not look complete and I cannot see how we can rent or use ourselves if no water. In which case I think the penanlty clause can be implemented as this took us to the end of November. What do other New Inn owners think??

New Inn
Londonman - you are confusing Art 15 with Art 16. Art 15 is simply the finishing of the construction works which my well be finished. It seems that water and utility connection is not part of "construction" and are therefore not required for Art15. Art 16 is permission for use, which will not be granted until the utilities are connected. Unfortunately it would appear that most off-plan contracts in Bulgaria call for the final payment when Art 15 is issued rather than Art 16, which is when any normal-thinking, rather naive British investor would expect it to be paid ie when you can use it! It looks like we've all been screwed over. Why didn't any of our solicitors point this out to us?

New Inn
PilotPaul, No. I am not confusing Article 15 with Article 16. With no running water to ensure that sewerage facilities are working you would not/should not be granted Art 15.

The contract should also stipulate that the last payment instalment should be at the signing of the Notary Deed - not when Article 15 is issued. That is the normal procedure.

New Inn
Well Lakon do not appear to be following normal procedure 'cos my contract clearly states that the final payment "shall be paid due within 6 months after completing of the apartment (standard form No.15)"

FYI New Inn is not expected to get permission for use until may of next year, though they are apparently trying to resolve electricity problems in the hope they can rent apartments out this winter. That implies they can rent it to tourists without permission for use which doesn't seem to make much sense. I'm assuming its a no goer for this season, though it was predictable they would never sort things out for this year even if utilities were there.

New Inn Rental
Happy New Year Everybody! I received a rental contract from Balkan Property Management this morning which I assume is part of Lakon. The attached annex gives rental prices for this winter which is a bit of a joke as we cannot use the apartments yet. The main concern is that the contract runs for three years. Have you all received yours? Any thoughts?

I've only got the one that was emailed through about a month ago or so I think. Can't remember if it had prices on. I've been put off by the fact they charge 25% and you have to pay to use your own apartment which is a real joke. Hadn't realised you had to tie yourself in for 3 years as well. I guess if they do manage to rent the rooms out most the ski season it would be worth going for but I'm still not convinced they'll be able to, at least not yet. Also as I recall you are not allowed to advertise it elsewhere if you sign their contract so it means being a bit stuck if they can't fill it. There are other places to rent through in Bansko who only charge 15% plus you can use it for free and advertise elsewhere (though obviously its not through tour operators). I think I may try that first, but if it appears that Lakon are filling it up in the future I'll try and swap. Be good if people keep using this forum in the future so we can compare whats best as I don't think we'll really know until after the 2007/08 season as this ones looking like pretty much a wipe out with utility problems etc.

New Inn Rentals
Hi Flatlander - I'm glad at least one other person still takes an interest. Has everyone else just had enough and given up??? The contract which I received does not make any charge for using the apartment yourself, except that you have to pay for cleaning - which is fair enough - 15 euro for a studio and 19 euro for a 1 bed. They will also fill a shopping list for 5 euro plus the item costs and if you want a fireplace log then that's 2 euro!!! Is this enough to make you change and go with Lakon?

If you can get a log for 2 Euros then count me in!!! When I've got a chance I think I'll have to look at the contract I was emailed again and ask for a copy of this new one. I didn't ask for mine to be furnished so I think its a bit late anyway.

I am still interested but it all seems to be dragging on that I have pretty much accepted that this season it a no-goer! The contract and link to the lettings site I got was an absolute joke! Littered with spelling mistakes and it showed New Inn apartments for rent but the letting costs were Euro 0.00 - we should make a fortune at this rate!!! On the basis that it was so unprofessional I think I will go it alone and see how I get on. I never expected to make a killing on rental but more as a long term investment and for use by friends and family (and school holidays in the Summer as I get 6 weeks off with my little boy!!) I have not even bothered to reply to lakon re all the mails they keep sending as it is obvious that the complex is not completed. I took the option to pay the final balance 6 months after completion so do not have to worry until Spring by which time I hope it maybe complete! What are your views on the penalty clause - do you think they will use the old "force majeure" get out again? The contract says that if completion (Art 15) is not within 6 months of the anticipated completion date of May 06 then a refund can be requested. That takes it to end of Nov 06 (funny that!! Exactly when the supposed Art 15 was issued) What have you guys bought at the New Inn? I have gone for a 1 bed in block D It would be great to catch up when we eventually get out there!