Brought Off Plan Can We Sell Before Built?

Viewing 4 posts - 1 through 4 (of 4 total)

nburnh
Member
@nburnh
Join Date: 2005
Post Count: 1
October 18, 2005 - 3:53 pm
]A few Months ago we purchased a property in Bulgaria Off Plan, there are 6 installments to pay, 3 of which we have done, We have been offered more money than the original asking price by someone, and would like to sell it to them, is this possible as we do not yet own the deeds and still owe the developer another 3 installments. Any advice would be really appreciated
jcso99
Participant
@jcso99
Join Date: 2005
Post Count: 95
October 18, 2005 - 9:48 pm
I have heard that if in your contract, the name of your purchase is yourself and/or nominee, I think it is possible. Regardless, talk with the vendor and the Bank and find out what other alternative is available.
Cheers
John
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jhopper
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@jhopper
Join Date: 2004
Post Count: 278
October 19, 2005 - 1:33 am
Not sure about Bulgaria but in Oz it happens all the time. Not uncommon for a property to change hands multiple times before its even built. That is of course if you own the property. Who actually owns this property at the moment?
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
October 19, 2005 - 1:45 am
On the basis that it is an off the plan property i would assume that it is a private developer you are purchasing from.
Rather than ask the vendor or your financier why not ask you LAWYER.
Not sure anyone here is qualified to give you legal advise in Bulgaria. If he says Yes then just arrange a contract with the your buyer.
Cheers Richard
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