| How do I sell my Bansko property? Any advice? |
Author : Fi (---.fast.net.uk)
posts : 392
Date : 09-19-08 14:44
My partner and I are splitting and have decided to sell our off-plan Maria Antoaneta 2 bed apartment. It's due for completion Dec 2009.
Does anyone know how to go about this?
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| re: How do I sell my Bansko property? Any advice? |
Author : arron (---.redstone-isp.net)
posts : 2511
Date : 09-19-08 14:47
Get in touch with the selling agent. Maybe prepare to make a small loss if you need a quick sale.
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| re: How do I sell my Bansko property? Any advice? |
Author : Fi (---.fast.net.uk)
posts : 392
Date : 09-19-08 16:12
Any other advice? The company we bought the apartment through has said they don't have a resale section!!
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| re: How do I sell my Bansko property? Any advice? |
Author : Andy (---.btc-net.bg)
posts : 922
Date : 09-19-08 16:34
Hi Fi,
I can put you in contact with a company that has been selling property for quite a few yrs now that have just set themselves up for the resale market.
I'll send u the details via your email address.
Andy
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| re: How do I sell my Bansko property? Any advice? |
Author : Andy (---.btc-net.bg)
posts : 922
Date : 09-19-08 16:41
Fi,
Check your emails.
I've sent you her contact details.
Good luck with it.
Andy
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| re: How do I sell my Bansko property? Any advice? |
Author : Hornster (---.edmund-nuttall.co.uk)
posts : 1445
Date : 09-19-08 16:59
Eventually you will find a buyer but you must be prepared for quite a big drop in the sale price compared to what you paid for it - that is the reality i'm afraid!
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| re: How do I sell my Bansko property? Any advice? |
Author : Fi (---.fast.net.uk)
posts : 392
Date : 09-19-08 17:28
Thanks Andy!
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| re: How do I sell my Bansko property? Any advice? |
Author : Fi (---.fast.net.uk)
posts : 392
Date : 09-19-08 17:29
Hi Hornster, why do you think it would drop in price from what I bought it for?
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| re: How do I sell my Bansko property? Any advice? |
Author : Daniel Snell (---.opera-mini.net)
posts : 5067
Date : 09-19-08 19:42
Why will it drop? Because Bansko has shed loads of unsold properties and nobody is buying.
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| re: How do I sell my Bansko property? Any advice? |
Author : Mat (---.sofia.cabletel.bg)
posts : 597
Date : 09-19-08 20:45
The market has collapsed in Bansko, many developments are mothballed and more have been postponed or cancelled. A large proportion of those now started will never be finished as the developers cannot sell the off plan units and are thus going to the wall. Unless you have somewhere absolutely by the gondola, prepare to take a bath if you need to sell now. I would go so far as to say you will not sell at any price for a property due to finish in 15 months. Hardly anyone will handle resells as the commissions for offplan are 15% and for resales 3-6%. I'd say hold on for 5 years if you can put up with her that long - there are more than 100 hotels and God alone knows how many thousands of apartments for sale right now.
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| re: How do I sell my Bansko property? Any advice? |
Author : johnny (---.lns3-c13.telh.dsl.pol.co.uk)
posts : 111
Date : 09-23-08 16:29
Correct Mat.
With one addition.
Maybe 5 years is not long enough for resale.
Fi
Unless you find the buyer bring him/her manage to convince of the advantages of your place and conclude the deal right there and then without allowing second thoughts,you are there for a long wait.Sorry
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| re: How do I sell my Bansko property? Any advice? |
Author : johnny the fox (---.lns3-c13.telh.dsl.pol.co.uk)
posts : 3
Date : 09-23-08 16:32
sorry Johnny
I have been looking at this site recommended by tourists and started to enter my opinion but noticed johnny is with a lot of postings so I am changing my name to Jonny the fox(Thin Lizzy)
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-23-08 16:49
Fi - the global house market is really falling so clearly Bulgaria will be impacted also.
Remember who the main buyers are in Bansko - Brits/Irish/Russian/Denmark. I know of two of these markets which are in dire situation and living costs are sky rocketing.
So demand is falling.
Im on the Bansko ladder & when I bought I realised then that you'd be looking at a good 10 years to make any sort of cash.
To try to sell a property uncompleted... your really going to struggle. Clearly if you have to sell you need to put it up onto the resale agents but then as the divorce date nears it will have to go to auction and frankly it might not get anything.
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-23-08 17:00
Why not see if he will buy off you or you off of him?
But determing a price is the difficult bit.
Also I guess once one of you has it they may feel oh I bought this with the then love of my life & any new partners may feel uneasy about this and want to start afresh.
You could ask the developer if he will buy it off you - OR think how much have you spent so far? What is the remaining amount to be paid? What is the expected final payment? You could forgo on the final payment and take the financial hit of what you have spent so far split 50:50 and essentially you'd be cancelling your contract and giving it back to them for free.
I'd say if you really must get out this way could be the most sensible option.
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| re: How do I sell my Bansko property? Any advice? |
Author : options (---.range86-163.btcentralplus.com)
posts : 1
Date : 09-23-08 17:05
Raffle it off - £2 per ticket. When you sell enough tickets to cover your costs pop the names into a hat and pull out the lucky winner!
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| re: How do I sell my Bansko property? Any advice? |
Author : Andy (---.btc-net.bg)
posts : 922
Date : 09-23-08 17:09
I dont think the developer will be keen to take it off ya hands.........he needs as much cash to repay the bank...he he he 
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-23-08 17:24
In that case just walk away from the deal and lose what you have already invested 50:50. If he/she disagrees with that then let them buy it off you (or let them take it off you) so that all future costs are paid by them.
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| re: How do I sell my Bansko property? Any advice? |
Author : Ryan (---.chcam.ie)
posts : 36
Date : 09-23-08 17:48
Slightly off topic, but is it the same situation all over Bulgaria? I read that pamprovov was a good place to invest currently due to the falling prices, good loactions available and the fact that it was relatively underdeveloped. The article did say that 7-10 years is a realistic holding period though. Any thoughts? Thanks
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-23-08 18:18
Probably going to get steamrolled with this comment.
Pamps is the lowest of the ski resorts and the most southernly. In 2008 IIRC Balkan Holidays had to bus Pamps tourists to Bansko as there was no snow in Pamps.
I have no idea what the resort is like as I have never been there, also what happens there outside ski season? Is there anything to do or do all the shops shut up?
Bansko has the most ski runs currently and the rumors say that there may well be a second resort in the same valley as Bansko just west of Bansko beyond the golf courses and also on the old Russian ski resort near the Bears turn in which case given 5 years the Bansko region could have a huge amount of slopes admitedly you'd need to bus it to get to the others but thats hardly an issue. You get the same in the alps.
If it works out it could be a really good place.
I can see that Bansko is like Austria back in the 1970's and look at that now!
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| re: How do I sell my Bansko property? Any advice? |
Author : Ryan (---.chcam.ie)
posts : 36
Date : 09-23-08 18:41
Thanks Welshy,
What about all the excess builds sitting unsold there currently though? Also surely at this point much of the prime development land has already been sold?
Also I have no idea of activities in the summer in pamporovo. No Golf anyway.
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-23-08 18:51
Firstly to what end are you buying the overseas place for? Pleasure or investment?
If its investment who knows whats going to happen here in the UK let alone in a different country. If your all ready in there then hold tight.
I bought 2! One I bought for me & the Mrs with no intention to let out. So if we have kids (or even if not) we will be going there for our summer sun holiday & winter ski holiday only having to pay for the flights. The second I bought at the time as an investment property - but when I bought I was intending on holding for 10 years and then look to sell (maybe).
Ive got one place in Piring Golf District 1 - I/we really loved that place the views we have from our balcony are stunning (South & Mountain facing) with National park in front of you. The quality of previous build by Balkanstroy did it for us - a cut above the rest well head & shoulders above the rest. Also its got huge outside areas & outdoor swimming pools (ideal for the summer but Im sure they are heated too - but even if not there are indoor heated pools for the winter), Tennis, golf, horse riding, football pitches & driving range & bars/shops/everything you need in one resort.
The other is in town near the gondela.
Dont just take advice from internet forums - do reaserch yourself. Can you really afford it? Do you like the place enough to go there year on year for your holidays?
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| re: How do I sell my Bansko property? Any advice? |
Author : Ryan (---.chcam.ie)
posts : 36
Date : 09-23-08 19:18
Sounds like a nice spot Welshy. I'm not overly interested in investing, but I have been Skiing in Bulgaria a couple of times and I liked it. I was more curious to get a view from people who are regular visitors and/or residents of the skiing resorts, to see how the downturn has affacted sales/setiment etc. Internet Forums can be quite effective, especially for sentiment.
I’ve done some reading and over the long period the place seems a reasonable investment. The specialist properties seem less volatile than commercial or coastal apts. Long term who knows. All I know is sometimes its good to be greedy when others a freaful & gearful when others a greedy!
Thanks again
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| re: How do I sell my Bansko property? Any advice? |
Author : Ryan (---.chcam.ie)
posts : 36
Date : 09-23-08 19:22
that last line should read -
*greedy when others a fearful & Fearful when others are greedy
Not sure what gearful is.
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| re: How do I sell my Bansko property? Any advice? |
Author : arron (---.lei3.cable.ntl.com)
posts : 2511
Date : 09-23-08 21:21
Snow was good in Pamps this year upto third week of Feb, very good indeed! March dropped off as mentioend above.  get ready to dodge the bullets
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| re: How do I sell my Bansko property? Any advice? |
Author : Bibblyb0bs (78.150.31.---)
posts : 795
Date : 09-23-08 22:26
Hi Fi, Just an Idea but you dont have to both lose,
You could see how much you get offered then one of you offer the other a buy out,- let the negotiations begin 
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| re: How do I sell my Bansko property? Any advice? |
Author : Dave (193.131.2.---)
posts : 860
Date : 10-01-08 23:00
Can you re-sell it through the people from whom you bought it? They might give you free advertising, or discounted.
Otherwise, on the internet. Facebook; ebay; gumtree; loads of Bulgarian property agents on the net, or failing that stick it in the window in one of the various agents in Bansko village.
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| re: How do I sell my Bansko property? Any advice? |
Author : jim (212.183.134.---)
posts : 148
Date : 10-05-08 14:55
difficult if not impossible
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 10-06-08 11:26
Fiona - I live in Reading Berks UK and 15 months ago houses were selling in days and had been for years, now I have a friend who has a flat which has been for sale since Feb08 and only had 3 viewings he keeps knocking £ off the asking price but noone is interested, its in a good area and in good decor.
Another friend who owns an estate agent in the area is in dire straights laying off staff and hasnt sold a single property this year... its his business and he's in a fair bit of financial trouble.
So bearing this in mind & generally its 70%odd British buyers (rest Irish mainly) who have bought and in general those who bought were from the S.E. UK I'd say your potential buyer just isnt there currently which is a big problem.
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| re: How do I sell my Bansko property? Any advice? |
Author : damo (---.mia.three.co.uk)
posts : 173
Date : 10-06-08 13:39
Youtube tells a story. Go to bansko and change relevance to date added. Might i remind anyone who thinks youtube's an estate agents window, it's not.
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 10-06-08 14:00
Fiona - can you share what has been paid so far?
Frankly given the dire economic global situation I would take the hit between you. Simple.
Its not nice having to do that but unless you can really afford to spend any more - there is no relase market currently (oh sorry thats the UK!) and global assets are losing £ hand over fist.
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| re: How do I sell my Bansko property? Any advice? |
Author : Lee Wilson (64.191.210.---)
posts : 1
Date : 10-20-08 13:51
I own a property at whitefir resort which is managed by colliers international the resort itself is stunning,but i am getting cold feet due to the economic down turn. Do you think a property of this class will sell
Thanks
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| re: How do I sell my Bansko property? Any advice? |
Author : Daniel Snell (---.93.125.91.rb4.adsl.brightview.com)
posts : 5067
Date : 10-20-08 17:43
As has been said above Lee it matters not one one jot how good your apartment in Bansko is there is so many for sale and so few buying you will not a lot of luck to sell.
When you see a report that estate agents in this country are selling on average 1 property a week at the moment who is going to buy abroad? Good luck to you.
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| re: How do I sell my Bansko property? Any advice? |
Author : Bob (---.range86-134.btcentralplus.com)
posts : 335
Date : 10-21-08 00:07
The latest news is that some estate agents in London have started foregoing their fees, just to get the market going! Not that they will...
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| re: How do I sell my Bansko property? Any advice? |
Author : The Truth (---.lns1-c11.dsl.pol.co.uk)
posts : 5
Date : 10-21-08 03:53
Cant sleep tonight, Mikey???
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| Properties in Bansko |
Author : Pierre (---.dsl.bell.ca)
posts : 3
Date : 10-29-08 02:02
Hi,
Two questions related to properties here
- does anyone know of a way of getting out of paying off the last 50% of a deal to buy a place under construction? Pre signed agreement to pay certain amounts with no get out clauses!
- does anyone know of a company called BDP? Experiences good or bad?
- we have currently been offered to take share in our half finished appartment for a hotel to run it. To us it sounds extremely fishy and not at all what we signed up for. Will/can they force us into this?
Thanks
PJR
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| re: How do I sell my Bansko property? Any advice? |
Author : Mat (---.sofia.cabletel.bg)
posts : 597
Date : 10-29-08 10:18
That's three questions
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 10-29-08 15:07
Well firstly your choices are - one dont pay and by doing so your forefitting the contract i.e. losing everything you have paid so far & in effect giving it back to the developer to sell again - whihc in the current market could be a shrewed thing to do & then given you still want to buy buy another at a much lower price...
But they might be able to sue you for the final amount. Please talk to your lawyer.
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| re: How do I sell my Bansko property? Any advice? |
Author : pedro (---.popl.cable.ntl.com)
posts : 18
Date : 10-30-08 02:58
Hi lee,
It seems to be that every one is thinking that nothing will sell, however if you can hold out I do know that the french, Spanish, Italian, and mostly Russian are very keen buyers... the UK is not the only Country on the planet.
Just think in 10 years time how much do you think your property will be worth?
Andorra property's in 1992 £15K now £250K.
Good luck in your decisions Bansko is beautiful.
Pedro
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| re: How do I sell my Bansko property? Any advice? |
Author : Pierre (---.dsl.bell.ca)
posts : 3
Date : 10-30-08 03:36
Hi Pedro,
Do you happen to work on Bansko projects? That is by miles the most optimistic outlook I have ever seen. Even the agents (who always inflate figures) are saying 20% growth max. What do you base this potential growth on?If Bulgaria was expected to grow as per your x15 then I think we would be in a very different situation than we are today and investors would be massively easier to find.
I have seen studios and 1 bed appartments selling for £20-30k. Is this real?
Apparently bansko have overbuilt on appartments and hotels, giving a major surplus of availabaility at a time of little demand.
I think that several things have changed since 1992 and Bulgaria is not like the major European ski resorts, nor will ski tourism develop in the next ten years like it did in the last ten years. The cost of going to Bulgaria to ski is not significantly less than going to the Italian, French etc resorts amd the benefits are certainly less.
Does anyone have any experience of buying an appartment, then taking shares in hotels and giving the hotel control of the appartment?
Thoughts
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| re: How do I sell my Bansko property? Any advice? |
Author : Mat (---.sofia.cabletel.bg)
posts : 597
Date : 10-30-08 11:17
I doubt they could sue you for the remainder as it better times they actively wanted people to walk away so that they could resell at a higher price. Nowadays I would be very wary about whether the company has enough money to actually finish your place before you put the final payment down. I stay at an apartment complex in Bansko that has been turned into a hotel - Sunrise - which is extremely pleasant. No idea how it works but you have to be sure of the management structure - there are essentially two choices - either you get revenue depending on how many people stay in your specific room (in which case you have to bribe the receptionist to use yours) or all owners share the total revenue proportionally (in which case you need to be sure that maintenance comes off the top). So it does happen.
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| re: How do I sell my Bansko property? Any advice? |
Author : gondola (---.range86-151.btcentralplus.com)
posts : 2
Date : 10-30-08 11:22
Work on new gondola expected to commence in spring together with the (re-)opening of the west side. Should be a replacement of the now redundant chairlift over there. That will massively increase the terrain and therefore appeal of Bansko as a ski destination.
Keeping hold of your apartment for a few more years might be worthwhile!
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 10-30-08 12:03
The biggest issue here is the short term - It might make more financial sense to not pay the 55% final payment and "lose" what you have already put down & lets say its a studio then you look at whats available finished and then try to buy a 1 bed or 2 bed for the same price as the final 55% payment you were planning on making - assuming you wanted to continue to invest.
The right hand mountain looks like its going to have many black runs
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| re: How do I sell my Bansko property? Any advice? |
Author : Mat (---.sofia.cabletel.bg)
posts : 597
Date : 10-30-08 13:30
Just look at it mathematically - if you paid 1400 a square metre and you can get a comparable finished place now for 600 its a no brainer - walk away from the first and buy the second
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 10-30-08 15:28
Mat is right you know! as he said say you paid E1400/mtr sq and you have paid 45% then you now buy somewhere for E600/mtr sq for a bigger place (or even the same) even unfurnished your toal cost will be E1230/mtr sq Im sure you will be able to get them furnished too.
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| re: How do I sell my Bansko property? Any advice? |
Author : pedo (---.popl.cable.ntl.com)
posts : 2
Date : 11-01-08 11:50
Hi Pierra,
No I dont have any involment with the construction company, however I do know that the English cotinue to expect Bulgaria to compare with the English and you now this is not the case,
I have three properts in the Alps and they are booked every year. I also belive you cant compare Bansko to the Alps in for facil but i'm not, im looking at how the country will grow.
Every one who has purchased in bansko why they did in the first place!!
1; Because of the food?
2; Because cheap cigarets
3; because they can make £££££££££££££
Cheers,
Pedro
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| selling my property |
Author : rick papworth (78.111.202.---)
posts : 4
Date : 11-15-08 23:08
hi i have a top floor apartment in panarama which i want to sell,can you help???
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| selling my property |
Author : rick papworth (78.111.202.---)
posts : 4
Date : 11-15-08 23:08
hi i have a top floor apartment in panarama which i want to sell,can you help???
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| selling my property |
Author : rick papworth (78.111.202.---)
posts : 4
Date : 11-15-08 23:08
hi i have a top floor apartment in panarama which i want to sell,can you help???
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| selling my property |
Author : rick papworth (78.111.202.---)
posts : 4
Date : 11-15-08 23:08
hi i have a top floor apartment in panarama which i want to sell,can you help???
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| re: How do I sell my Bansko property? Any advice? |
Author : pedo (---.popl.cable.ntl.com)
posts : 2
Date : 11-17-08 13:46
Hi ya,
No one is buying at the moment because of the down turn in mortgage leanding, people are scared at the moment and have been put off by the exchange rate too and the forcarst is that its going to get really bad before it gets better.
Even staff in Bansko are being layed off due to None Sales,
the only opption you have is to try thr rich Russian market, or go skiing this season to see what you can do your self this might be the only way.
Sorry it all seems horrible but...good luck
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 11-17-08 14:42
With sterling taking such a bashing down from 1.47 e : £ to 1.15e:£ if you sell to anyone in the UK your going to have to take a big hit again on the price as it will be beyond what people can afford.
What options have you followed up upon to date - as there has been a lot of advice.
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| re: How do I sell my Bansko property? Any advice? |
Author : tigertim (---.as43234.net)
posts : 206
Date : 11-17-08 15:48
Like she's gonna come back and post after all that advice...
Bless she's taken hit after hit,a sign of the times a guess..
TT
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| re: How do I sell my Bansko property? Any advice? |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 11-17-08 17:14
The thing is its exactly the same in the UK say you split from your wife/partner (non married or gay) and have a house together - now you really cannot sell the place so your ending up living in the same house different rooms which could be for years.... and I'd guess there will be times that one has a very good lover over and vice versa. or one hogging the TV while the other had planned a nice meal & quiet night in with a good romantic film... grr.
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| re: How do I sell my Bansko property? Any advice? |
Author : tigertim (---.as43234.net)
posts : 206
Date : 11-17-08 18:40
In a ideal world lol..
TT
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| re: How do I sell my Bansko property? Any advice? |
Author : pedro (---.popl.cable.ntl.com)
posts : 18
Date : 11-19-08 00:56
Welshy you did make me laugh...
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