Guide to Selling Property in Bulgaria

Posted by admin 25/01/2016 0 Comment(s) Selling Guides,
Here we will give you a few tips and tricks to help sell property in Bulgaria fast and attract buyers as quickly as possible.  You couldn’t of picked a better time of year to sell as there are allot of overseas property exhibitions happening in Russia attracting cash rich buyers to Sunny Beach, Bankso, Pamporovo, Sofia, Pomorie, Saint Vlas, Borovets and inland Bulgaria. Prices are now on the increase since the global real estate crash of 2008. In 2009 you could of purchased a property in Bulgaria for less than 50% of its value and the trend continued until 2014.

Prices picked up a little in 2015 on the sale of apartments and Villas and this trend is set to continue from 2016 onwards.
If you have a property in Bulgaria to sell in Sofia or Plovdiv you will be very pleased to know that both these cities have seen major growth in overseas investment and prices are rising highest here.

Over 50% of the buyers for property in Bulgaria now are overseas investors from the likes of Russia, The Ukraine and Poland. Recently the UK buyer has come back into the scene with the strength of sterling against the weak Euro.

With the growth of the Russian economy we have seen a trend of wealthy cash rich Russian buyers buying up all types of property in Bulgaria. Most of these cash buyers are attracted to the ski resorts of Bankso, Pamporovo and Borovets, or the black sea coastal cities of Varna and Burgas.

Here are some use full hints to attract that quick sale.

Price your property realistically.
To sell property in Bulgaria fast you need to be realistic in price. Do not overprice as the buyers will simply overlook your online advertisements and go elsewhere. While the market is recovering it still has to reach the highs of 2007. Speak to your agent ask them for a guide price to re sell your Bulgarian property based on recent sales your agent has had in the last 6 months. Once you have this information to hand set your price about 10% higher to allow for offers as the savvy cash rich Russian buyers do not pay the asking price.
Market your property overseas ( especially Russia ) as a sale can come from anywhere.
You need exposure to sell property in Bulgaria fast so market overseas and only work with Bulgarian re sale experts who do this. Your agent should be able to advertise your property at all the major Russian property shows and exhibitions to attract as many buyers as possible. Quite simply if your Estate agent cannot do this it is a waste of your time dealing with them as only the agents who market overseas and especially into Russia, The Ukraine, Poland and the UK can sell property in Bulgaria.  This is where we come in we are experts in this field.
Make a good first impression to a buyer viewing your property online or in a brochure.
When it comes to Bulgarian re sale property first impressions will always help a quick sale. Make sure your property is in pristine condition any repair work needing done get it done. Give the property fresh coat of paint to freshen up the interior. Get rid of any personal clutter and pay extra attention to the kitchen and living areas like the living room and bathrooms. Overseas property investors want a property that is ready to move into and enjoy.
Marketing in many languages to many countries is the key to sales.
Have good photos ready for your online advertisements and brochures and a good description of your property and the surrounding areas. Make sure you have all the legal paperwork ready for the buyer such as copies of deeds, housing surveys, floor plans and so on.
Keep records of all taxes and utility bills you have paid. In the property description mention how far it is to the nearest schools, airports, hospitals, train stations, bus stops and shopping stores etc. Have this entire package ready for when you are ready to advertise and give as much information as possible to your Bulgarian re sale expert estate agent. Make sure your agent gets all this information done into a professional online advert and brochure and translated into as many languages as possible. English, Bulgarian, Russian, Polish, Chinese and so on and check to make sure your advertising is multi lingual, if your agent cannot do this do not use them. You need to be attracting as many buyers as possible to your property so exposure in many languages is the key to sales.
Be ready to meet buyers and answer any questions they have.
All cash rich Russian and overseas buyers are very busy people and have busy personal schedules. They will most likely want to view the property out of normal hours so you need to be available at a time of their choosing as the buyer has the power in today’s market. Always be polite and smile take time to be as helpful as possible without trying to seem desperate to sell. Never give them impression you are in a hurry to sell as a savvy buyer will pick up on this and make a low offer but do have a reason ready as to why you are selling when asked.  

Finally you will need a professional Solicitor who is an expert in Bulgarian Law.
When you find a buyer make sure the lawyer you hire is multi lingual and can draw up contracts of sale in all languages required. They will handle the entire legal process of your sale this should never be undertaken lightly. We can recommend reputable firms when we find you a buyer.
Contact us today to sell your Bulgarian property quickly and efficiently.
Fast and free advice offered in every aspect of re selling.