Brits bid for houses in Bulgaria on eBay

More buyers are purchasing Bulgarian property than ever before, real estate agents from the UK reported. But this Bulgaria boom is different from the last one: this time it is taking place on eBay, property portal TheMoveChannel announced.

Budding investors are increasing turning to the bidding portal thanks to Bulgaria's low-priced property, the property portal reported. The customers relying on the site's rating and feedback systems to provide transparency and inspire confidence in their transactions.

According to Knight Frank, the value of Bulgarian homes fell by 2.6 per cent in the second quarter of 2012 compared to the same period in 2011. That decrease saw enquiries for Bulgarian property increase in July as the country become the eighth most popular destination on TheMoveChannel.com.

"The Brits have been always interested in the cheapest property, but now the deals are much less than before the crisis," Polina Stoykova, BULGARIAN PROPERTIES Chief Operations Manager, said. "Now obviously they are looking for properties on eBay and are willing to risk small amounts, but to make a really bargain deal," she said. According to her, the British still do not feel secure in their income and reluctant to invest in properties in Bulgaria, as they did 5-6 years ago. "It should be noted that the Brits are interested and they are observing the ads offered, but the moment for purchase did not come," she said.

According to her, when buying a property in the Internet it is important to know who is behind the offer, whether it is an owner, an agency, or photos have been taken from somewhere and posted there.

"It is important the buyers be aware of what comes after bargaining the price, how will be done the transfer of ownership as well as the payment," Stoykova said. "In such purchases should be investigated also the matter how the investors will receive the ownership from the seller and which documents he has for his property," she warned.


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