Orpheus Valley by BulgaRe - Pamporovo

Admin
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Orpheus Valley by BulgaRe - Pamporovo

Postby Admin » Wed Aug 25, 2010 10:35 am

Here you can place all your questions about Orpheus Valley complex, located in Pamporovo, Bulgaria, owned by BulgaRe Developments.

Nathan
Posts: 10
Joined: Wed Aug 25, 2010 2:34 pm

Re: Orpheus Valley- Pamporovo, Bulgaria

Postby Nathan » Wed Aug 25, 2010 2:39 pm

Hi

I have purchased an apartment in section F, and my parents purchased another in G. The complex is delayed and the developer is not replying our e-mails. Can you please give us information about the latest news, because we haven't heard anything in last 6 monhts. I am extremely worried by news about financial problems of Bulgare.

Thanks in advance

Nathan
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Posts: 493
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Re: Orpheus Valley- Pamporovo, Bulgaria

Postby Admin » Thu Aug 26, 2010 9:10 am

Hi Nathan,

The developer is only active when he sends promises and lies to the buyers. What is the situation with sections F and G:
1) these sections are roughly in the same situation. They are the last left to be constructed in a period, in which funds are less, which is actually causing the delay. The developer has officially set new completion dates for End of 2012 (this can be confirmed with official letters). If you want I can send you one of these letters with stamp of Bulgare on it.
2) Currently the developer has not even constructed the buildings to roof level. I have photos made by some of our colleagues showing 2-3 floors constructed (only basis and floors without the walls), which means that they will really need more time to complete the construction.
3) The bank is looking for the loan they gave to Bulgare an year ago. This loan in the amount of several millions is with due date August 2010 and Bulgare will have to start repaying it. It is still unknown how they will repay the loan and keep constructing in the same time, becauase they will need finances for both things.
4) Unable to transfer apartments- even if your apartments were constructed you wouldn't be in position to get the deeds. The reason for this is the mortage established in favour of the bank. Currently many buyers in the first sections (already completed with Act 15) are still waiting for the transfer.
5) Bulgare will ask you (maybe they have already asked you) for maintanance fees for your apartment/s. We advise you not to pay before it is completed and entered into exploitation.

Bulgarian Deals Team
sorbite
Posts: 14
Joined: Thu Aug 26, 2010 9:57 am

Re: Orpheus Valley- Pamporovo, Bulgaria

Postby sorbite » Thu Aug 26, 2010 10:40 am


Nathan
Posts: 10
Joined: Wed Aug 25, 2010 2:34 pm

Re: Orpheus Valley- Pamporovo, Bulgaria

Postby Nathan » Thu Aug 26, 2010 1:16 pm

Hi sorbite

my last contact with Bulgare was in February when I received an e-mail from Nicky Dafovski requesting from me contact details. And this is it. I asked them what is happening with our apartments but received no answer. What is this invitation you have sent them? Can you give me some information- do I need to send also such thing to them or it will be useless?

Nathan


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