Anyone Purchasing Property From Ambasun Bulgaria?

aitch-aitch

You may find someone in same position on the forum in the following website

http://www.mybulgaria.info/

Hyacinth

Thank you Aitch-aitch - i searched this site but couldn't find anything so i have posted the topic on the forum - fingers crossed i find someone in the same position!

Misty_mew

Hyacinth wrote: »

I am currently in the process of purchasing a studio apartment in Bulgaria from Ambasun (we entered into this before the credit crunch!).

I have received letters from Delagio who are the builders of the development to say that they have terminated their contract with Ambasun because they were not passing on clients money to them but any future payments should go directly to them.

I contacted Delagio and they have said there accountants are currently working through reports to see what payments from clients have been received by them from Ambasun - hopefully they have received our previous payments!

What has happened to Ambasun - i have searched the web and can find nothing!

Anyone else in the same situation - worried sick!!!!!

I'm in the same position. Bought an apartment in Sunny Beach due for completion in December 08. Had the same letter as you, advising not to make any more payments to Ambasun.

I've spoken to Ambasun UK who tell me that their Cheif Executive and Finance Director are flying out to sort it out this week. I'm supposed to have call Friday to let me know what going on. Your contacts should be the same -I've always dealt with Sharon -what about you?

Which development have you bought your apartment? I've nearly paid for one in Dawn Park.

Hyacinth

So good to be in touch with someone in the same situation!

I have emailed Sharon but haven't heard anything back yet! The only person who has been in touch has been Desi in Bulgaria - they wanted to what we have paid and when!

Did Ambasun tell you anything more?

Misty_mew

Sharon has been off sick with appendix problems. I spoke to her last week to check on another detail of my apartment with no problem.

Try phoning Diane 01675 437868 - she was quite confident that everything would be sorted out this week. After all she's out of a job if this doen't work out, so I did beleive her. (Could be me just being gullible but I thought she was genuine)

Where is your apartment?

Jan

Hyacinth

Jan - have sent you private message

Bf109

barnaby-bear wrote: »

No - why would I want to buy a flat in a 2nd world country, with a huge over supply of new build flats, and a tourist sector extremely vunerable to recent budget airline route cuts, very low average incomes and rental yields, with a complex legal system and a language and culture I couldn't start to understand

Because proberdee only goes up?
Because you cant go wrong with proberdee?
Because you cant afford to buy here so you want to make loadsamoney ruining some other country's proberdee market and price out the locals?
Because Kirsty and Phil and Sarah Beeney and daytime telly told you so?

FraudBuster

Sorry to be the bearer of bad news, but I know of a UK investor who sent £50,000 to Bulgaria for off plan property. The UK agent and the Bulgarian developers have done a runner.

MrSmartprice

I would be very wary of parting with any money to Ambasun. I am sure they are in trouble if my recent dealings are anything to go by.

We have been in contact with Ambasun over the last 2-3 years via their Cabo Roig office in Costa Blanca. We are planning to move there in the next couple of years and have looked at property over there on recent visits. We are looking for a permanent residence rather than a holiday home.

Ambasun were being very helpful and we were planning to go there with them for 4 days of house hunting. We even had their people come to us to set it all up. The deal was that they would pay for our accommodation for 4 days while we looked at suitable property, then we would continue our trip for a few days staying with friends.

We booked our flights as arranged, but when they rang to confirm the dates they sprung a 500euro charge on us because we weren't going straight back to the UK, despite having known this all along. The Ambasun staff were insistent we must pay, so we told them we were not going to deal with them. They got most upset, but we are just having a holiday instead. We shall certainly be house hunting there, but not with these shysters.

I have had several more calls from the Cabo Roig office, almost begging us to go with them. They now claim the charge will be repaid at the end of the trip, but I certainly don't believe this. I am as certain as I can be that Ambasun are in serious financial difficulty so we shall not be touching them with a bargepole. There are plenty of agents struggling in Spain as there is far more property than they can sell.

My advice: Avoid Ambasun at all costs - they may seriously damage your wealth.

BrandNewDay

Even if these developers initially intended to sell you an apartment, the fact is that they're going bust and failing to deliver on new builds even in the UK. What do you think is going to happen when the same thing happens to someone in Eastern Europe? People are having a hard enough time getting things sorted right here in the UK... I can't imagine trying to chase people down in a whole 'nuther country where I don't speak the language, know the law, or understand the customs.

I feel bad for you, OP.... I'm sure it looked like a good idea at the time and I hope you can at least get out of the contract. The money spent may be gone, but at least - unlike some people in the UK - you will probably be able to get out of it. There are people here on the hook for new builds bought at 2007 prices that still aren't built and may never be built, but there is nothing in the paperwork saying when the builder has to complete so they are on hold indefinitely.