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Buy, Sell Or Hold In Bulgaria

Creativity! Why not consider throwing in some "perks". In effect these are a discount but can be disguised in other ways and can be very enticing. So much better than the property languishing on the market for months, which will only make you cut the price anyway. You might offfer a car you have and no longer need or sell the property fully furnished. The list is only as limited as your imagination. Don't appear too over-eager as the purchaser might start to question your motives. If you can do it, as finance is such a difficulty for some buyers, you could even offer to cover their first three months mortgage payments?

If your property wasn't getting enough viewings, then it was probably just over-priced. Nowadays, it may not only be the price, it is also likely that a buyer may not be able to finance the purchase. Lenders are pulling in their horns and are imposing stricter terms on clients they are prepared to offer mortgage deals to. Potential buyers who come along and have a mortgage agreed by a lender are of course preferable. Those who have cash and no chain behind them should be grabbed immediately. The key is to make sure your buyers are properly "qualified" so you know that they can buy.

Ensure you are ready and able to move quickly when you get your buyer. This could make all the difference and will ensure a quicker sale, plus the buyer is less likely to back out once you are moving out of the property.

Be reaslitic, research and be ready when you get a buyer.

Hold and don't sell if you can. Not so much a question of Bulgarian property prices going down, rather that it is more difficult to find a buyer now than it has been.

Those who are keeping their homes may choose to rent them out to maximise income which may well be required in today's financial constraints. If you can time the rentals for the right period, then this can pay some if not all of a year's running costs on the property. Just because there are scary stories about the property market does not mean that this will affect your ability to rent your property. Renting doesn't suffer in the same way during a downturn as property prices because with all the doom and gloom people definitely want a holiday. Indeed, families who tend to feel financial difficulties the most, will turn away from hotels and save money by taking a self-catering rental.Or those thinking of a permanent move may prefer to rent first before committing to buying.

Research from Savills shows that 18% of people are buying for retirement with vast numbers of over 45's. These people have a lot of equity in UK homes, so most won't need to borrow at all. For them, this is an excellent time to buy and Bulgaria is an attractive location with low prices and low living costs. Bulgaria is well placed for investment first time buyers who can't get on the property ladder of the U.K.

There is already a shift in Bulgarian property purchasers from holiday home owners to those who are wishing to move permanently to the country. These buyers cite the "nanny state, cost of living, ever increasing prices and violence", amongst their reasons. Those who are buying holiday homes are buying for lifestyle, rather than buy to let.