Nothing of the kind in Bulgaria. No securities are ever used. No letters of credit, no mortgages to secure buyer’s rights, even the simplest security is rarely applied: paying the price to the notary instead of direct to the developer. The reason is that the middlemen operating in Bulgaria, who you for some unknown reason call agents, are not liable if something goes wrong. Lawyers are liable under certain conditions, but in Bulgaria the buyer expects the agent to find him one. The result of this is that agents find tame lawyers who are more loyal to them, than to those who pay them. Thus corners are cut.

And the result of all this is so fantastic, that still a lot of buyers can not comprehend it: using a middleman (called ‘agent’) makes buying more risky, not less!