Property deposit

Thanks for the warning

@sryan4824

Sorry to hear the issue with your deposit, however your prospective property does sound like the majority of village properties here.

You can factor in a lot of money nowadays in Bulgaria if you want to get it up to a UK standard.

There are good properties out there but most modernised come with a price that matches their condition.

Good luck with your dream, but unless the property company you used deliberately misrepresented the property then there's very little you can do, always make sure you have your own independent advocate to protect you as there are maximum limits in property law on deposits and how much you lose if you pull out here.

Ouch! So sorry you had such a bad experience. I hope it doesn't wreck your Bulgarian hopes!

Unfortunately it seems there are few properties for sale that don't have some issues, though obviously one expects to find more issues in the lower price range than the higher priced properties. Dodgy DIY or cowboy builder renovations that look good on first glance but hide bigger problems could be issues in the mid-range places for sale.

There are a couple of guys offering property inspections in Bulgaria, who advertise from time to time on ebay (they need the seller's permission to do a full inspection, otherwise all they can do is look from the outside). I used one a few years ago when I first contracted with a well-known online agent to buy somewhere sight unseen, and their report made me realise the property wasn't right for me.

Thankfully the agent was helpful and let me transfer the deposit I'd paid to a different property, which I appreciated. Though the house we settled on also had unexpected problems and my first day there had me considering letting it go and losing my deposit, we're happy overall and feel we got decent enough value for what we paid. But this was a lower priced property. If we'd paid more, as it sounds you did, my expectations would have been correspondingly higher.

The termite thing surprised me so I looked it up, as in Australia I'm used to it only being an issue in frost-free areas. Apparently termites are a risk we need to be aware of, even in the UK. There have been numerous cases found in Paris and a couple in Devon!

@sryan4824

Sorry to hear of your property misadventure, but it sounds like the place would have been a money pit. Hopefully, you'll find something much better next time. It's a bit late now, I know, but I think pressurizing someone for an immediate deposit is usually a bit of a red flag. Even if one does want to proceed, I think a "reservation" deposit is typically quite small, maybe 1,000 euros or so. Anything larger (usually the 10%) is only handed over when there is some kind of promissory contract in place. As you've found, typically any deposit is non-refundable (unless the seller backs out).

@sryan4824

That is quite strange ......

"First viewing of property was yes a bit rushed but it was last minute and we were pressured a little into putting a deposit down and yes I did first mistake.

Came back 4 weeks later for second viewing and more in depth found poor DIY electrics nothing was secured not even the toilet,no sink no cesspit, no fire safety electric running through polystyrene boards and worsed off all Termites yes termites even Bulgaria has termites."

Do you mean, that you have viewed the property yourself, even if "a bit rushed", BEFORE paying the deposit, and you didn't notice the "poor DIY electrics nothing was secured not even the toilet,no sink no cesspit, no fire safety electric running through polystyrene boards and worsed off all Termites " ? and yet you paid the deposit after getting acquainted with the current condition of the property ??

In that case it is normal to assume that you have agreed with the current condition of the property and have paid the deposit in order to "lock it down".