Advice needed on selling apartment

[nuzzlemonkey]

Hi guys,

Ive fully paid for a 2 bedroom apartment in Sunny day 6 complex. I've paid all the fee's and also a platinum package (maintainence/insurance). I have not furnished or actually signed the deeds yet.

Unfortunately i have come into a bit of money trouble and one option is to sell the apartment asap.

Please could i have your thoughts or advice. I dont even know where to start.

Thank you very much

 

[JROSE]

Hi Nuzzle,

Sorry to hear of your situation. If you have paid in full for the apartment then there is clearly no option for you to not complete on the purchase, and unfortunately it is very difficult to sell in the current market. There are many local agents you could approach in sunny beach but buyers are very thin on the ground, and the buyers who are still looking for property want front line positions at rock bottom prices.

My honest advice would be to hold on to the apartment and try and gain some rental income. Selling now should be an absolute last resort as I think you could loose a lot of money by selling well below what you paid for the apartment. I don't know what you paid, but some sellers are now accepting as low as 450 Euros a square meter, and that is what you are up against.

I'm sorry to sound negative Nuzzle, but on the plus side if you can ride the storm you can gain rental in the summer and the market will eventually come back to how it was.

Best of luck,

James
The Lets Group

 

[siesta]

450euro/sqm there deals hapenning for properties 200m away from the beach in Sunny Beach itself,for the Sunny Day 6 which is located somewhere else but not what I will call SB,this price can never be achieved even in the next few years.
Just look at the bulk of resale offers in Nessebar Fort club,which also n jot very bright location but still better than SD 6.

 

[ladybird2011]

What is a good location for one person is not for another. Personally I would hate to be in the centre of Sunny Beach or Nessebar and we choose to buy an apartment just outside the resort (Kosharitsa not Tankovo direction like Sunny Day 6). I think your immediate problem is you do not yet have the deeds to your property so without these can't sell anyway. Make sure you have all your paperwork in order (and keep in mind that Sunny Day 6 does not have ACT 16 yet - if ever) and then you'll need to price it to sell - definitely no more than 30,000 Euros - get it listed on ebay, gumtree, vivastreet - all free.

 

[johnandrews]

How bad is the money trouble? Have you considered a quick-sell, you get cash and a fairly hassle-free process?