Beware Scams in Bulgaria

Johnavann · 2022-08-19T21:51:50+02:00

Real Estate Mafia! Is it real? Is this true? YES and Yes! It is organized and targets the elderly, those who are sick or in divorce or other legal issues. Does the Law allow it? Yes and encourages it as many attorneys and Judges are in on the scam. Can your own attorney move your title out of your name and into his? YES and it is hard to prove or recover. 1. The Power of attorney scam. Your attorney or real estate agent will ask for a power of attorney to close or supervise a transaction. If you do not provide one likely they will advise you "That's the way it is done here!" This is the most common form of conversion. While you may see that your title has been cleared and in your name in the registry, the POA will likely be used again in a few years if you have not cancelled it. Just do not agree to any POA to anyone regardless of the circumstances or trust level. This scam is for purchase, sale, proceeds, as well as registration of cars and anything of value that requires a license, or tax. It comes in multiple forms, elderly care, disputes in divorce etc. Beware of any attorney who offers to provide you the full service. No! Insist on attending the closing yourself at the \notary office and be sure you understand the documents with a written translation. You may never see the attorney or agent again however in a few years you will discover that your property has been sold. 2. The false loan, lien scam. In addition to being used with the POA Scam, it is also used in the purchase or sale scam. You or another at closing can (or the POA) sign a false loan document and the scammer will foreclose on the property, The Notary's are often in on these deals, so you really cannot trust a Bulgarian Notary or a Bulgarian Attorney, It is better to spend the money for a International Firm to assure ethics. No wonder almost every migration officer will tell you to be careful in any transactions. 3. Divorce Scam. This is a good one, Divorces are expensive and the attorney will offer to handle everything for you in a contingency fee. Say they will charge no fees and only take half of what you receive. (That is after fees of course and you might get 20%) Of course many women in divorce will accept this as each must pay their own fees in Bulgaria. This is where the Real Estate mafia will step in, and file a "Spousal Abuse" complaint against the husband to remove him from the home. Then send in in body guards to place the woman on drugs and control her movements, have her sign false liens, and begin to remove the appliances, windows etc. and sell them as it takes months to go to court and even longer for a decision. By then the house has been stripped and foreclosed on and the woman forced on to the streets. This happened to my ex wife and while I would not wish this on anyone she refused an upfront settlement of 50% when the attorneys said she could get 100%, She is now homeless and I am rebuilding the shell of the house. Is there any recourse? Yes, she committed a criminal act which the police will not prosecute and I can sue her for the damages and losses that I absorbed from my 50% but she is broke and now on the street! Hw can this be legal? Believe me it is in Bulgaria and most attorneys walk away when the Real Estate mafia is involved as it is a loss for everyone and of course the government allows this by lack of prosecution. My advice to anyone is to only buy in the name of a corporation, only you should be the manager and not trust your spouse, attorney, CPA, etc. and better to rent instead of buy. Real Estate in Bulgaria does not appreciate. Yes, it only depreciates. Check it out! Same for a car. You have all read about the tax fraud nightmares that come home to roost at your feet due to the tax avoidance from sellers. OTHER topics are the Public Hospitals. They are not up to third world standards. Some Police and Judges can purchased for a paltry sum. Many Bulgarian men regularly beat their wives. Wages are below poverty levels for many and perhaps the majority. Think carefully about investing in The wild Bulgarian Melee! This country is 30 years away from basic laws and accountability.

Last activity 23 December 2023 by SimCityAT

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grumpyoldbirdSerial expat10 November 2023 11:01:29

#41

238

@philip Mckay

I've seen something similar regarding a house that was advertised on e bay. Apparently it's been sold several times, to different people, but no one has ever managed to take possession of the house. It's a complete scam and if I can find it I'll post a link.

landroversaleseuNew member23 December 2023 12:59:48

#42

I found an old link for one of the Bulgarian Realtors bait and switch house:

[link moderated]

At the time the price was 60,000 EUR. I wanted to buy immediately. When I arrived 18 hours later, after 2 airports, air tickets, hotels, taxi drivers. I was given every excuse why I could not see the property.

I was told there was constuction in front of the road and it was inaccesible. The Realtor refused multiple requsts and insistinces that I see the property. Instead redirecting me to other, inferior houses I had no interest in seeing .. or buying.

I want to know how many other people this has happened with in Bulgaria .. and if there is a way .. or if it is worth it to file against the lawsuit against the property broker.

SimCityATExpert23 December 2023 19:36:03

#43

11223

I want to know how many other people this has happened with in Bulgaria .. and if there is a way .. or if it is worth it to file against the lawsuit against the property broker.

-@landroversaleseu

Waste of money trying to sue, it would take years and you probably would lose.

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