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16 February 2011

I bought an apt in Bulgarian ski resort. Should I sell it now or wait. Help I have a huge headache

I bought it about 4.1/2 yrs ago for 58,000 Euros it is now worth about 29,000 euros. I have paid for insurance, maintenance, advertising, agency every year and so far NOT EVEN ONE RENTAL. not one Euro have I made. Someone got a key somehow and lived in it for a week without my knowledge and ran up a bill on electric which I had to pay for as well as laundry change etc etc. Excuses from everyone. Now I come to sell I can only find one agency not charging up front but they want £3000 euros fee, then 500 Euros for a lawyer, also I have taxes to pay apparently (I don't know how much these will be or how to find out. I also vaguely remember being told about a tax which would be due if i sold the property after owning it for less than 5 years. Nobody was clear on this. I really really would appreciate advice as i am doing this by myself, I cannot afford to pya over the odds on this - I have already lost about 25000 euros on the property value. the apartment is in a ski resort.

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