PIA agreed but cant sell Bulgarian property

B

BrokeGuy

Registered User
Messages
62
Hi all,

After almost 9 years of worry I eventually agreed a deal with my banks where I retained the family home (full mortgage) and lost the rentals all for €19k downpayment which is what I could get from the sale of a Bulgarian property.

The property over there cost €58k and I thought I could sell it for €22k which would mean I would come out with the €19k to pay the bank.

I have 2 agents working for me and it aint going well. It is a 1 bed apartment 10 mins from the beach in SunnyBeach with pool view so price is realistic but no takers.

What does one do here? I am plagued by this.
 
Hi, one agent is Irish and he has just stopped answering mails so I wont deal with him again. The other says it will sell this summer (he thinks). However he could be just saying that so I list the property with him. A major issue for it is that the annual fees are €500 which is a lot over there.
 
Yes obviously it will be help but the solicitor and agent will get €3k and I owe €1,200 management fees so Id net only €15k. €4k difference is a lot when you dont have it!
 
In my experience with selling properties abroad you need to have it with listed with many agents. Who are your target market? Is it locals?

Have you had professional pictures taken?

Is there a myhome type site in Bulgaria that your property is listed on? If you type in Bulgarian (use google translate) into Google.bg 'apartment Sunny Beach for sale', 'real estate Sunny Beach' does your apartment/selling agents come up? If not, list with the top 10 displayed.
 
BrokeGuy said:
Yes obviously it will be help but the solicitor and agent will get €3k and I owe €1,200 management fees so Id net only €15k. €4k difference is a lot when you dont have it!
Click to expand...

I understand that but selling it for less is a lot better than incurring costs and getting into more debt.
 
BrokeGuy said:
Hi, one agent is Irish and he has just stopped answering mails so I wont deal with him again. The other says it will sell this summer (he thinks). However he could be just saying that so I list the property with him. A major issue for it is that the annual fees are €500 which is a lot over there.
Click to expand...
Hi broke guy,
I know you want to sell,but have u looked at rental?,some of these properties can get good rental rates in the Summer months.

Pat
 
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