Comments on: The “trap” of the preliminary agreement http://mhlegal.eu/blog/the-trap-of-the-preliminary-agreement/ Bulgarian solicitors and lawyers company registration, conveyancing, litigation, haulage permits, general legal services to the business Sat, 04 Feb 2012 22:25:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Tariq http://mhlegal.eu/blog/the-trap-of-the-preliminary-agreement/#comment-14044 Tariq Mon, 09 Aug 2010 17:02:47 +0000 http://mhlegal.eu/blog/?p=79#comment-14044 Hello Please, why has the BBTL forum been closed, we need somewhere to try and get help, please do not close it. Thank you Tariq Hello
Please, why has the BBTL forum been closed, we need somewhere to try and get help, please do not close it.

Thank you

Tariq

]]> By: Aneta http://mhlegal.eu/blog/the-trap-of-the-preliminary-agreement/#comment-10923 Aneta Tue, 02 Mar 2010 20:25:14 +0000 http://mhlegal.eu/blog/?p=79#comment-10923 Dear Sirs In September 2007 we met a developer who showed us plans of his new project in Sozopol, we liked plans so we agreed to buy from him a property off plan. In October 2007 we signed a Preliminary Agreement (PA) with Bulgarian Real Estate (BRE), which we were led to believe was his company. The estate agent, who introduced us to the developer, told us that they sold loads properties via BRE and that everything was checked by the lawyers. We paid 80% of the value of property to BRE in October 2007. In June 2008 we received a letter requesting that the PA should be re-signed with [...], who is an owner of the property and the developer, which we did, but a counter-signed by Condor Travel copy was never returned to us. According to the PA a property should have been finished by October 2008, it was a delay and the property was finished in May 2009. We paid the outstanding 20% of the value of property to [...]. In June we went to Bulgaria to sign the Title Deed and when we arrived the developer refused to sign the title deed and claimed that: 1- he never saw PA signed with [...]; 2- he never authorised BRE to represent him (even thought we had seen the relevant Power of Attorney given to BRE). Now the developer refuses to sign the title deed, unless he got paid further 50% of the agreed price. He also refuses to refund any money to us. Apologies for lenghty message but we feel so hopeless. The law firm we contacted said that the developer has right to keep our money, as we paid it to him willingly. And that the manager and owner of BRE has changed - so a new owner does not have to respect our contract signed with BRE in 2007, plus apparently BRE does not have any assets so no point taking them to court. I would appreciate any advice because we really do not know what to do. Dear Sirs
In September 2007 we met a developer who showed us plans of his new project in Sozopol, we liked plans so we agreed to buy from him a property off plan. In October 2007 we signed a Preliminary Agreement (PA) with Bulgarian Real Estate (BRE), which we were led to believe was his company. The estate agent, who introduced us to the developer, told us that they sold loads properties via BRE and that everything was checked by the lawyers. We paid 80% of the value of property to BRE in October 2007. In June 2008 we received a letter requesting that the PA should be re-signed with [...], who is an owner of the property and the developer, which we did, but a counter-signed by Condor Travel copy was never returned to us. According to the PA a property should have been finished by October 2008, it was a delay and the property was finished in May 2009. We paid the outstanding 20% of the value of property to [...]. In June we went to Bulgaria to sign the Title Deed and when we arrived the developer refused to sign the title deed and claimed that:
1- he never saw PA signed with [...];
2- he never authorised BRE to represent him (even thought we had seen the relevant Power of Attorney given to BRE).

Now the developer refuses to sign the title deed, unless he got paid further 50% of the agreed price.
He also refuses to refund any money to us.

Apologies for lenghty message but we feel so hopeless. The law firm we contacted said that the developer has right to keep our money, as we paid it to him willingly. And that the manager and owner of BRE has changed – so a new owner does not have to respect our contract signed with BRE in 2007, plus apparently BRE does not have any assets so no point taking them to court.

I would appreciate any advice because we really do not know what to do.

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