Q&A

Answer a question



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.

  • REPORT This comment has been reported.

10 Answers

Answers


Be the first to answer

Do you want to answer this question? You need to be signed in for this feature

Answer a question


Copyright © lovemoney.com All rights reserved.

 

loveMONEY.com Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) with Firm Reference Number (FRN): 479153.


loveMONEY.com is a company registered in England & Wales (Company Number: 7406028) with its registered address at First Floor Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY, United Kingdom.


loveMONEY.com Limited operates under the trading name of loveMONEY.com Financial Services Limited.


We operate as a credit broker for consumer credit and do not lend directly.


Our company maintains relationships with various affiliates and lenders, which we may promote within our editorial content in emails and on featured partner pages through affiliate links. Please note, that we may receive commission payments from some of the product and service providers featured on our website. In line with Consumer Duty regulations, we assess our partners to ensure they offer fair value, are transparent, and cater to the needs of all customers, including vulnerable groups. We continuously review our practices to ensure compliance with these standards.


While we make every effort to ensure the accuracy and currency of our editorial content, users should independently verify information with their chosen product or service provider. This can be done by reviewing the product landing page information and the terms and conditions associated with the product. If you are uncertain whether a product is suitable, we strongly recommend seeking advice from a regulated independent financial advisor before applying for the products.