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The Sun
a day ago
- Business
- The Sun
We bought a fixer-upper in Bulgaria for £6.5K but it was a disaster – 6 warnings if you're buying a ‘dream home' abroad
A BRITISH family who thought they'd found their 'dream' house in Bulgaria for just £6,500 have revealed how it quickly went sour. The couple behind the @ therollingrucks account gained a legion of fans after revealing they had purchased the house and relocated from the UK having never seen it before. 2 2 After arriving in Bulgaria, the family, from South Wales, admitted they had no idea what to expect from their incredibly cheap property. The initial reveal left them "really, really overwhelmed," with the mum confessing, "I thought oh my gosh we might have made a mistake." But it turns out that it wasn't theirs to buy in the first place. In a new video, the mum shared: 'We bought a house in Bulgaria for six and a half thousand pounds — or so we thought so. 'We travelled from South Wales to Bulgaria to view a property that we thought we purchased. 'Turns out it wasn't ours to purchase in the first place.' Stating that the home has now already been sold on to someone else, she said they are 'taking some downtime at the minute to sort of recuperate and gather our thoughts.' However, she did share six things she's learned through the process about buying in Bulgaria. CHOOSE A REPUTABLE ESTATE AGENT The mum shared: 'First things first: get yourself a reputable estate agent and ensure that you've got a Bulgarian lawyer. 'These are called advocates, and what they'll do is check all the legal agreements on the property, check your preliminary contract to make sure there's no outstanding mortgages or finances left on that property — especially before you start working on the land and clearing it, because most Bulgarian houses do need a bit of work.' OPEN ACCOUNTS She next advised that you open some personal accounts during the process. The mum advised: 'You don't necessarily need to, but they are helpful when you wanna transfer funds back and forth.' RESEARCH LOCATION The next piece of advice was to choose your location carefully. She added: 'Do some proper research about the location you want to be in as well, because not everyone wants to be out on the sticks.' VIEW IN PERSON The mum shared how they bought the house without viewing it first, and advised against anyone else doing this. She said: 'View your property in person — that goes without saying. 'Don't trust anybody and buy online, because you're just gonna get burned.' FACTOR IN FEES While a house price may seem cheap in a foreign country, there are other fees to factor in, she stated. These include notary fees, registration fees, and all the other legal fees that come with buying a house — including taxes, which can be 'up to 10 per cent.' LAND DEBATE The TikTok user shared that you may find yourself confused about what you actually own. She explained: 'If you're buying a property in your personal name, bear in mind you may not own the land that's associated with it.' REGISTER A BUSINESS She said that most people who go over there to buy property will need to make sure they register their own business. The mum continued: 'Doing this does entail to you to the land and the house — but remember, it's the business's property, not yours, and extra fees are included for that to go ahead as well.' She said that although they have thankfully received their money back now, they are working on their 'new dream.' The social media user concluded: 'We will be looking for something else for sure not sure if it will be Bulgaria or something else just yet taking some time to think.' Moving house hacks 1. Declutter Before You Pack Sort through your belongings and get rid of anything you no longer need. Donate, sell, or recycle items to lighten your load. 2. Create an Inventory Make a list of all your items. This helps keep track of everything and ensures nothing gets lost in the move. 3. Use Quality Packing Materials Invest in sturdy boxes, bubble wrap, and packing tape. This will protect your belongings during the move. 4. Label Everything Clearly label each box with its contents and the room it belongs to. This makes unpacking much easier and more organized. 5. Pack a 'First Day' Box Include essentials like toiletries, a change of clothes, snacks, and important documents. This will keep you from rummaging through boxes on your first day. 6. Take Photos of Electronics Setup Before unplugging your electronics, take photos of the wiring setup. This will make it easier to reconnect everything at your new place. 7. Use Suitcases for Heavy Items Pack books and other heavy items in rolling suitcases. This makes them easier to transport and reduces the risk of injury. 8. Colour-Code Your Boxes Use different coloured stickers or markers for each room. This will help movers quickly identify where each box should go in your new home.
Daily Mail
24-07-2025
- Business
- Daily Mail
How much should I pay an estate agent?
By We've assigned a local estate agent to list our property. It wasn't the cheapest of the three quotes we got, but we thought the agent really knew his stuff. We opted for a package at £5,000 plus VAT, so £6,000. There was a cheaper option at £3,500 plus VAT, but our 'enhanced' option included a video, social media promotion and drone footage. We also thought that, if we paid more, the agency would be more likely to prioritise our sale. But after speaking to two sets of friends who have recently sold, they think we've paid over the odds. Have we? Ed Magnus of This is Money replies: You have done the right thing to have met with different agents before picking one. The fact the selling agent you met made a good impression is a positive, but he may not be that involved in actually selling your home. Typically, a branch manager will come to value your home and once instructed it will be left up to their team of sales negotiators, who get paid commission when they sell a property. If it was me, I'd be more interested to know who those negotiators are, rather than relying entirely on my first impressions of the manager. The fixed fee structure you have been offered certainly differs from the norm. Whether or not it is good value or not depends on what your home sells for. Most estate agents charge a percentage fee of the selling price, rather than a flat fee. This, in theory, incentivises each agent to get the best possible price. However, depending on the value of the home, this could also mean shelling out a vast amount. The percentage typically ranges between 1 and 3 per cent of the selling price, often with VAT on top. Someone selling their £250,000 home with an agent charging a 3 per cent fee plus VAT would end up paying £9,000 in agency fees, for example. For those selling more expensive homes, even a fairly standard 1.5 per cent plus VAT fee (totalling 1.8 per cent) can eat up more than £10,000. Sell a £750,000 property with that fee and the agent will take a £13,500 cut. On that basis, your £6,000 flat fee inclusive of VAT may be deemed low if you are selling a property worth £500,000 or more. But if you're selling a property worth £200,000 for example, that would equate to 3 per cent, which is at the pricey end of the scale. For expert advice, we spoke to Angela Kerr , a director at property advice website HomeOwners Alliance and Jeremy Leaf , north London estate agent and a former Rics residential chairman. Is this estate agent fee good value? Angela Kerr replies: Estate agents usually offer a commission model, which charges you a percentage of the final sale price. At the moment, fees average 1.42 per cent including VAT and in today's climate we advise home sellers to negotiate with the aim of paying 1 per cent. On that calculation, if you're paying £5,000 plus VAT as a flat fee, it only really stacks up if your property is worth £500,000 or more. Below that, it does start to look expensive and your friends have a point. Jeremy Leaf replies: I believe a fixed-price arrangement may not prove to be in the best interests of seller or agent. The amount could be influenced by the value or saleability of the property and its context. For instance, does the £6,000 flat fee represent approximately 1 or 1.5 per cent of likely sale proceeds? Commission based on a percentage of the purchase price may give the agent added incentive to achieve the best possible deal. There's another issue with fixed fees – they don't suit all properties and market conditions. A set amount may be suitable when marketing identical-sized flats in a large block of flats or similar houses in a substantial development, where differentiation can be tricky. However, in this scenario, the seller would want to stand out even more so motivating the agent to send buyers in a particular direction can be a sensible approach. Will the 'enhanced' add ons help to sell? Angela Kerr replies: Most flat-fee estate agents are online agents, with packages typically around £1,000 to £2,000. Some high street agents offer fixed fees too, but it's less common - and these deals are often paid upfront, whether they sell your home or not. So while you might think paying more will get you better service, if they've already banked the fee, I'm afraid there's not much of an incentive to prioritise your sale. As for all the marketing bells and whistles, without knowing the property, it's hard to say if it's value for money. Drone footage is brilliant if you're by the coast or selling a country pad with acres and a pool, but I'm not sure it's worth it if you're selling a semi in Surbiton. I do love a virtual tour though, for giving you the real feel of a property - that's genuinely useful for most buyers. As for social media promotion, it depends. If they're popping your home on an Instagram page with 500 followers, that's unlikely to shift the dial. What other advice would you offer them? Jeremy Leaf replies: I do not believe sellers should over-concentrate on commission, provided the fee is competitive and relates to the estate agent's work. It generally represents only a small proportion of the total price of the property, and the sale of their home can be life-changing, in terms of job, family or other reasons. What we find is of most importance to sellers currently is listing their property in this buyers' market at the right price, as so much stock is available across most price ranges. It's essential that each property stands out, so the right pricing and marketing is even more vital than usual. Get it wrong and the property could languish on the market. If possible, choose the agent with the best recent track record of selling similar properties, agree on a marketing programme and a relatively short period before amendments are considered if you have had no success. A fixed-term agency agreement including a notice period which allows the seller to change agents if necessary, before the property goes 'stale', is a good idea too. Angela Kerr adds: You mention the selling agent really knew his stuff which is good news. It's important you can work with your agent and that they have a good knowledge of the local market. Valuing your house right is an important first step to selling quickly at the best price.
Daily Mail
24-07-2025
- Business
- Daily Mail
How much should I pay for an estate agent? My friends say my £6,000 quote is extortionate
We've assigned a local estate agent to list our property. It wasn't the cheapest of the three quotes we got, but we thought the agent really knew his stuff. We opted for a package at £5,000 plus VAT, so £6,000. There was a cheaper option at £3,500 plus VAT, but our 'enhanced' option included a video, social media promotion and drone footage. We also thought that, if we paid more, the agency would be more likely to prioritise our sale. But after speaking to two sets of friends who have recently sold, they think we've paid over the odds. Have we? Ed Magnus of This is Money replies: You have done the right thing to have met with different agents before picking one. The fact the selling agent you met made a good impression is a positive, but he may not be that involved in actually selling your home. Typically, a branch manager will come to value your home and once instructed it will be left up to their team of sales negotiators, who get paid commission when they sell a property. If it was me, I'd be more interested to know who those negotiators are, rather than relying entirely on my first impressions of the manager. The fixed fee structure you have been offered certainly differs from the norm. Whether or not it is good value or not depends on what your home sells for. Most estate agents charge a percentage fee of the selling price, rather than a flat fee. This, in theory, incentivises each agent to get the best possible price. However, depending on the value of the home, this could also mean shelling out a vast amount. The percentage typically ranges between 1 and 3 per cent of the selling price, often with VAT on top. Someone selling their £250,000 home with an agent charging a 3 per cent fee plus VAT would end up paying £9,000 in agency fees, for example. For those selling more expensive homes, even a fairly standard 1.5 per cent plus VAT fee (totalling 1.8 per cent) can eat up more than £10,000. Sell a £750,000 property with that fee and the agent will take a £13,500 cut. On that basis, your £6,000 flat fee inclusive of VAT may be deemed low if you are selling a property worth £500,000 or more. But if you're selling a property worth £200,000 for example, that would equate to 3 per cent, which is at the pricey end of the scale. For expert advice, we spoke to Angela Kerr, a director at property advice website HomeOwners Alliance and Jeremy Leaf, north London estate agent and a former Rics residential chairman. Is this estate agent fee good value? Angela Kerr replies: Estate agents usually offer a commission model, which charges you a percentage of the final sale price. At the moment, fees average 1.42 per cent including VAT and in today's climate we advise home sellers to negotiate with the aim of paying 1 per cent. On that calculation, if you're paying £5,000 plus VAT as a flat fee, it only really stacks up if your property is worth £500,000 or more. Below that, it does start to look expensive and your friends have a point. Jeremy Leaf replies: I believe a fixed-price arrangement may not prove to be in the best interests of seller or agent. The amount could be influenced by the value or saleability of the property and its context. For instance, does the £6,000 flat fee represent approximately 1 or 1.5 per cent of likely sale proceeds? Commission based on a percentage of the purchase price may give the agent added incentive to achieve the best possible deal. There's another issue with fixed fees – they don't suit all properties and market conditions. A set amount may be suitable when marketing identical-sized flats in a large block of flats or similar houses in a substantial development, where differentiation can be tricky. However, in this scenario, the seller would want to stand out even more so motivating the agent to send buyers in a particular direction can be a sensible approach. Will the 'enhanced' add ons help to sell? Angela Kerr replies: Most flat-fee estate agents are online agents, with packages typically around £1,000 to £2,000. Some high street agents offer fixed fees too, but it's less common - and these deals are often paid upfront, whether they sell your home or not. So while you might think paying more will get you better service, if they've already banked the fee, I'm afraid there's not much of an incentive to prioritise your sale. As for all the marketing bells and whistles, without knowing the property, it's hard to say if it's value for money. Drone footage is brilliant if you're by the coast or selling a country pad with acres and a pool, but I'm not sure it's worth it if you're selling a semi in Surbiton. I do love a virtual tour though, for giving you the real feel of a property - that's genuinely useful for most buyers. As for social media promotion, it depends. If they're popping your home on an Instagram page with 500 followers, that's unlikely to shift the dial. What other advice would you offer them? Jeremy Leaf replies: I do not believe sellers should over-concentrate on commission, provided the fee is competitive and relates to the estate agent's work. It generally represents only a small proportion of the total price of the property, and the sale of their home can be life-changing, in terms of job, family or other reasons. What we find is of most importance to sellers currently is listing their property in this buyers' market at the right price, as so much stock is available across most price ranges. It's essential that each property stands out, so the right pricing and marketing is even more vital than usual. Get it wrong and the property could languish on the market. If possible, choose the agent with the best recent track record of selling similar properties, agree on a marketing programme and a relatively short period before amendments are considered if you have had no success. A fixed-term agency agreement including a notice period which allows the seller to change agents if necessary, before the property goes 'stale', is a good idea too. Angela Kerr adds: You mention the selling agent really knew his stuff which is good news. It's important you can work with your agent and that they have a good knowledge of the local market. Valuing your house right is an important first step to selling quickly at the best price. How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Buy-to-let landlords should also act as soon as they can. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. What about buy-to-let landlords Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages. This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
Daily Mail
23-07-2025
- Business
- Daily Mail
EXCLUSIVE Ellen De Generes' Cotswolds farmhouse could be yours for £22.5m - £7.5m more than the TV star paid for it a year ago
Ellen DeGeneres has put her Cotswolds farmhouse on the market for £22.5million - a staggering £7.5million more than she paid for it just 12 months ago. High end estate agent Sotheby's International Realty is marketing the seven-bedroomed home as a 'A landmark country estate in the heart of the Cotswolds.' In a rare public appearance in the UK, Ellen, 67, told an audience this week: 'We decided we needed a different house, and now we are selling that house. So if anyone wants a house, it's a beautiful stone farmhouse!' The agent's marketing material describes the farm as 'discreetly set at the end of a long private driveway…beautifully reimagined over the past year to an exceptional standard.' It continues: 'The estate blends period character with sleek, modern design across 43 acres of rolling Cotswold countryside. The main house unfolds around a central landscaped courtyard, a lovely focal point that brings light and flow to the interiors. 'Designed for both grand-scale entertaining and relaxing, the layout combines sharp architectural detail with a contemporary eye for volume, proportion and finish.' But it is the astonishing price increase which has surprised some estate experts familiar with the property - even if it has been 'beautifully reimagined'. One estate agent, who was familiar with the initial sale to Ellen back in June of last year simply said: 'Well, £22.5million is an absolutely crazy price. 'I know Ellen has had some interior decorating work done, and there has been some landscaping too. 'But she bought the place for £15million 12 months ago. And even then she paid £2.5million over the asking price which was just £12.5million. 'So £10million has been added to what it was being marketed at 12 months ago. Good luck to her of course. A house is always worth what someone will pay for it!' The pricing may seem audacious but history suggests Ellen knows what she's doing: she has an extraordinary track record as a buyer and seller of real estate. According to US magazine People, DeGeneres is a well-known collector of 'multi-million dollar homes' including a £24million property in the Montecito area of California where the Duke and Duchess of Sussex also live. In 2023, she told one US outlet of having bought and sold 'over 50 houses' including a house in Malibu that once belonged to Brad Pitt. Earlier this year it was reported that she had put two homes in Montecito on the market - thought to be among her last remaining properties in California. Ellen has revealed publicly that she has put the farmhouse on the market less than a year after moving there from the US. The US talk show host told a 700-strong audience of British fans at a one-off show at Cheltenham's Everyman Theatre the farmhouse she moved into last year was now for sale. Yet she has also insisted she is staying in Britain 'for good' - with the decision to stay confirmed following Donald Trump's re-election as US president last November. She has been living in the UK with her actress wife Portia de Rossi, 52, currently based in a new second home - having left the initial one that is now up for grabs. DeGeneres, 67, said at the Cheltenham event where she was in discussion with broadcaster Richard Bacon: 'We decided we needed a different house, and now we are selling that house. 'To clarify, I'm not selling the new one we now live in. I'm selling the old stone farmhouse.' Sources have confirmed that Ellen has quietly let it be known through her property agent that the farm is now available to the right buyer. The stunning farm, which is set in 40 acres among the rolling Cotswolds hills, was bought by DeGeneres and de Rossi in June of last year for £15million. Ellen was so enamoured by the property that she paid £2.5million above the asking price. However, the couple's new life in the quaint English countryside quickly went dramatically wrong after the field next to the house flooded just days after they moved in. Ellen DeGeneres bought the £15million farmhouse she shared with her wife Portia De Rossi in Asthall, a hamlet with only a handful of other houses, in June last year They were left virtually marooned after a tributary of the River Thames running beside the property broke its banks. Speaking at Cheltenham last week, Ellen told how she had decided to move permanently to the Cotswolds as a reaction to Donald Trump's second American presidential win last year. She said her and Portia had visited the English rural region often and always planned to spend some of the year there while reverting to the US as their main home, but that changed with Trump's victory over his Democrats rival Kamala Harris. Asked if she was staying here because of Mr Trump, she said: 'Yes. We were hopeful for Kamala. We were very hopeful and we thought at least let's get a place here. 'The idea was that we would be here for three or four months of the year - but always when we came here we loved it and we thought it was beautiful. 'We thought when I stopped the show [Ellen's eponymous US talk show] one day, that it was so beautiful here that we would get a farm here and then go back there. 'And we got here the day before the election. We woke up to lots of texts from our friends and crying emojis. And we were like, 'He [Trump] got in. So we are staying here. We are not going back. We are not leaving'. Speaking further about her first year in Britain, DeGeneres pondered on 'the best thing about life in the UK', telling her audience: 'I really like the people. Fish and chips are delicious too. 'The UK is beautiful. It is absolutely beautiful. We [Americans] are just not used to seeing this kind of beauty. 'Even in the villages and the towns, I love the architecture and houses. Everything you see here is charming. It is a simpler way of life. 'It's clean. Everything here is just better. The way animals are treated, the way people are polite. I just love it here.' However, she did admit the weather was an early issue, adding, 'We moved here in November, which was not the ideal time' - prompting laughter from the audience. She went on: 'The winter is tough. I would definitely say the winter is tough. But I still enjoyed it because we are not used to seasons. 'In California it is pretty much always the same and that gets a little boring - and I like the seasons. 'There is no worse thing than that [the winter]. I enjoy going to British pubs. Of course we go to pubs. We love pubs.' She and de Rossi were pictured and filmed last November enjoying a visit to fellow Cotswold resident Jeremy Clarkson's pub The Farmer's Dog. Putting a positive spin on the winter, DeGeneres has now said: 'I saw snow for the first time in my life. 'I had honestly never seen snow before - it was just like a fairytale, it was beautiful.' They have now moved to the safety of higher ground in a spectacular new property perched on a hilltop on the edge of a village in Oxfordshire. It is about a 30-minute drive from their original home and planning documents show it has a 'sustainable drainage system' and is not 'at risk of flooding'.
Irish Times
22-07-2025
- Business
- Irish Times
Estate agent pays €10,000 penalty for using deposit funds given to him by client
A Co Wicklow estate agent has had to pay a €10,000 penalty for using deposit funds, given to him for the purchase of land, before the sale was finalised. Gabriel Dooley, of Dooleys Estate Agents in Greystones, had been given €50,000 by a company to purchase land, but the sale never concluded. The liquidator of the company later secured a High Court order for Mr Dooley to refund the booking deposit, but he refused to do so. Following this the liquidator made a complaint to the Property Services Regulatory Authority , the body responsible for licensing and regulating the property services sector. READ MORE A full investigation was carried out, with the PRSA making one finding of improper conduct against Mr Dooley for breaching regulation six of the Property Services (Regulation) Act 2011 (Client Moneys) Regulations 2012. This was due to Mr Dooley withdrawing money from the €50,000 booking deposit, which was held in his client bank account, before contracts for the sale of the land being signed or finalised. The board of the PRSA imposed a sanction on Mr Dooley for this breach, amounting to a financial penalty of €10,000. The High Court confirmed the decision on Monday. Mr Dooley paid this fine to the PRSA before the confirmation order. Under the Property Services Regulation Act 2011, following a complaint the PRSA can appoint an investigator who seeks relevant documentation and evidence from an agent and drafts a report which then goes to the board of the PRSA for a final decision. If improper conduct has been found, a number of sanctions can be imposed varying from a minor sanction, such as a caution, to a major one like the suspension of the agent's licence or a financial penalty of up to €250,000.
