The best value property is often repossession, when a company or individual can’t pay the bank and the property is taken and resold. If you’re lucky, such properties can be bought well below market price.
Our estate agency on the sought after North Bulgarian coast, established since 2003, has been instructed to offer this villa at a price far below what is realistic.
In fact, the previous owner had borrowed €38,000 to refurbish this four-bedroom villa! Add to that, the cost of the original property and you’re looking at a significant total amount of money. The bank is going to take a BIG hit on this one and it’s your opportunity to profit.
This four-bedroom villa is in great condition and almost ready to move into. It just needs a few finishing bits and pieces. It has wonderful views from all windows and two balconies over sunny meadowland stretching into the distance.
Accommodation is arranged over three floors. Two handy basement rooms that you can use for storage or accommodation. First floor living area with doors from a raised balcony and second floor. All bedrooms have new laminate flooring and other areas tiled. The roof is good and all woodwork recently varnished. All windows are also in good condition. Mains utilities connected. Exterior walls recently painted.
There are two shower rooms, both plumbed and just needing appliances attached and water heater installed. We can recommend reliable and affordable contractors to do this if required.
This really is the perfect stage to acquire a repossession. Just before completion. Not early in the build process when you have a lot of work to do. The vast majority of the work has been done, yet the reserve price on this property is a fraction of what the property will be worth when you’ve just put the finishing touches to it.
Outside, there’s 950 m² of land. That’s about a quarter of an acre. The perimeter wall along the roadside is of modern block construction - not cheap to build. The garden has some very attractive fruit trees in it. There’s a pine wood close to the property and amazing views to the front.
So, here’s your chance to buy a very cheap, but really good villa near to one of Europe’s nicest sunny coastlines. A home to be proud off. In a friendly and affordable country that’s about three hours flight from the UK.
It’ll be a great place to relax and enjoy yourself. There are many holiday home owners from the UK and across Europe in this coastal area. It’s unspoiled, yet the most modern facilities are easily accessible. It also has a wonderful climate. Ownership costs are very modest, with minimal property taxes (think about 15 times less than UK!)
See the video of the villa www.youtube.com/watch
Selling prices of real estates in Bulgaria are in Euro. For your convenience, on our website you can check what the equivalent of the selling price is for the present day in both currencies – USD and GBP. This equivalent is calculated automatically and is bounded with the currency exchange rate for the specific day, therefore it may vary.