I bought a new apartment in Budapest ten years ago, have rented it out and am now thinking of selling it (as I am now retired). There is no mortgage or burdens on the flat.
I employed a well known Property Management company to mange the tenants etc ,all worked well and they have told me that they would manage the selling process. This all seems fine but I would be grateful if there is any advice in the forum on pitfalls, hidden costs etc.
At the moment, the Management company has offered to sell it for a fee of 4% plus VAT, is this reasonable?
I understand that the BUYER pays the legal fees but ,as all documentation is in Hungarian, there is advice that I obtain an English speaking lawyer to make sure all is correct and proper.
There is also reference to the cost of the bank transfer (incurred by the BUYER) - not sure what this actually is?
Also, whilst I bought the flat with Euros, would I be able to insist that a BUYER pays me in Euros?
Are there any difficulties transferring the eventual sales proceeds from my Hungarian bank account to the UK,or are there restrictions on currency movements?
Would really appreciate any guidance from anyone who has gone through the process recently?
Roseanne