A story about..the endless patience of the broker
A story about turning a problem property into a property with perfect documentation? Easy!
Do you think that it is possible to sell a property with a deed from the 1950s, which is also not quite correct?
How did the story begin?
We were approached by an elderly compatriot who has been living in the USA for a long time, asking us to help her sell her apartment in the center of Plovdiv, on Glavna Street. Usually, when such a property is sold in a super centre, the transaction is loaded with a large number of heirs. But in practice we got a “unicorn” with a single owner.
Time is frozen..
When we first entered the property, it was as if we had stepped into a time machine and found ourselves in the middle of the 20th century. “Time is frozen”: books, furniture, a bottle of Coke from the 50s, it was amazing…
Unfortunately, our client was sick and bedridden, and there were no relatives in Bulgaria to act on her behalf, so she just needed the organization’s help.
The challenge..
We took up the challenge and in just two days we managed to find an interested buyer, and after as many more – he capped the site. However, our broker found that the property was not correctly recorded on the cadastral map and cadastral register.
Then with each step new problems emerged. The deed from the 1950s did not correspond to the square footage, the correct address and was not properly formatted in accordance with current requirements.
The conclusion..
So we came to the conclusion that in fact our specialists had to “create” the property anew. We contacted the cadastral office to have a surveyor come and take the correct measurements of the site. At the same time, the broker consulted with lawyers because it appeared to be a very non-standard sale. The lawyers just shrugged: they had no such experience. But we did not give up.
The full collection of documents took about 5 months, during which time we were already welcomed as our own in the tax, cadastral, municipal government.
At the finish line..
At the finishing line, two weeks before the contract was signed, the broker decided to check the archives of the Plovdiv municipality, where he was horrified to find that the seller of the apartment as a child had renounced her inheritance in favor of her uncle and aunt. Can you imagine the state of the broker at this point? The only way out was to unravel this complex case before signing the deal.
Study..
After carefully researching the whole story of the matter, our colleague found out that the spouses had no children of their own, and the only next of kin turned out to be.. our client, who after the death of her uncle and aunt, became the legal owner of this object again. And so the circle closed again.
Huge thanks
Huge thanks to the buyer who stepped into the seller’s shoes and patiently waited for the end of the paperwork story. As a result, he got an absolutely legal property in a super center with perfect documents and with the confidence that he would not have any legal problems.
If you’re wondering what a broker’s job is,
the answer is this case study. To guide clients through all the stages and challenges of the transaction in such a way as to make both parties happy.
