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Bulgarians pose as British realtors

Date: 30.03.2006

Shrewd Bulgarians buy out houses and lands posing as "British" clients. The go-betweens ask elderly people in villages for a 15-percent commission. These "homemade" realtors are a dangerous bunch. Most of them don't have the slightest idea about the trade, they do not even know what exactly must be checked and verified when a deal is concluded.

There are also Bulgarian firms that pose as British real estates brokers. After it became public knowledge that many foreigners opt for buying real estates in Bulgaria to spend their old years here, dozens of Bulgarian "firms" started to register their business in British Internet domains. Moreover, they register them as English websites - instead of abv.bg they use a standard uk ending. This makes the British clients believe that a firm is registered in the UK and they never doubt its respectability.

The Bulgarians also become more credulous, as they believe that a British company stands behind a Bulgarian broker offering its services. As many of our compatriots are looking forward to seeing British buyers with their wallets full of pounds, no one doubts the intentions of the fake "foreigners." At the same time the Bulgarian "realtors" buy out their real property in fascinating mountain villages for peanut money. Thus they become their official owners and then offer this property on the British market for a much higher price.

If people are too gullible and trust these tricksters, they may well end up with a subpoena instead of a new property.

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