I want to sell my ski apartment in Bansko, Bulgaria.

Hello Wai Wong,

Welcome on board !

Have you contacted a real estate agency yet, just to enquire ?

Regards

Bhavna

Hello,

If you can sell it by yourself, first you need to make a little research of the market - take a walt through Bansko, see the ads of the agents, what they offer, destinations, prices.If you cannot travel Then you can search for some Free Facebook groups and to see the offerings there.

In any case you will need a specialist, even lawyer who is familiar with real estate deals. Probably you will need a proxy to collect all necessary documents for the deal and represent you before a notary if you are not capable of physical presence.

I have an apartment in Bankso and I go often there, so I am quite familiar with the market and the situation there.

I hope I was helpful.

@waikeungwong

Like @Vasilev we are fans of Bansko, and have a holiday apartment there too. It's a charming little town and the Pirin National Park is spectacular. My skiing days are also gone, but Bansko can be enjoyed all year round. If I recall correctly, 2008 was about the peak of property prices in Bansko, just before the crash. It has taken many years to recover, so you might be disappointed by the current prices compared to what you paid, many years ago.

If you are not yet a Bulgarian resident, and have been considering it, then it might be worth keeping the apartment for a while as your notary deed serves as the proof of address for a residence application.

A key issue is whether you are here, and can show the apartment to prospective buyers, and go to the notary for the sale. If so, you might want to use OLX (dot bg) which is a very popular site in Bulgaria, and used by both owners and agents.

If you are outside the country, it will be easier to give a POA to an agent who can advertise the property, conduct viewings, and complete the sale (and send you your money). There are many agents you can find with a quick Google search, both national, and local Bansko specialists. However, I highly recommend BulgarianProperties (dot com) as they specialize in expats and have multilingual listings and agents. They are a large and reputable agent and have many listings all over Bulgaria. Even if you decide not to use them, it's a very good site to look at for a bit of "desk research" as you can quickly see the apartments available in Bansko and at what prices.

As you probably recall, Bulgarian property is sold based on its m2, and I'd estimate currently most sales are between 500 to 800 euros / m2. The prices for studios seem to be from 15k euros to around 50k euros, quite a wide range. You can compare your apartment with those on offer. The highest prices are for larger apartments, in a good building, that have been finished and furnished to a high standard. If you have parking, or a storeroom, or a fabulous view, that's extra too. Negatives are very high maintenance fees and communal electricity meters.

Thank all for your response. As I am not based in Bansko and live outside the country I think the best way is to get an agent to sell it for me. Will do some research and then decide. Do any one of you know the cost involved selling through an agent. How long will the process take once a buyer accepts the offer.

regards,

Wai