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To sell or not ?

Posted: Mon May 20, 2019 2:02pm
4 replies310 views5 members subscribed
Karol1112

Karol1112

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Posts: 207

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Location: Torrevieja

Joined: 3 Apr 2018

Hi, does anyone know how long you should have a property before you can sell it ? Is there any time limit . And are you heavily taxed , I’m in a dilemma because of change in circumstances and some health problems I’m thinking of putting my little bungalow up for sale sadly , but I know I’m going to probably lose out as selling fees/taxes are huge . Any advice gratefully received , and hypothetically if a property was to be sold for say around the 56.000€ mark what would you actually walk away with , totally confused what to do. Thank you 

Relyat

Posted: Mon May 20, 2019 2:06pm

Relyat

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Posted: Mon May 20, 2019 2:06pm

There is no minimum length of time that you have to own it.

How much, and when, did you pay for it?

Karol1112

Posted: Mon May 20, 2019 3:36pm

Karol1112

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Location: Torrevieja

Joined: 3 Apr 2018

Posted: Mon May 20, 2019 3:36pm

Thank you, that’s nice and clear 👍

Karol1112

Posted: Thu May 30, 2019 1:53pm

Karol1112

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Posted: Thu May 30, 2019 1:53pm

The agent I bought from charged the poor seller 7K my solicitor was shocked , terrible !!

dinnerout

Posted: Fri May 31, 2019 11:58am

dinnerout

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Posted: Fri May 31, 2019 11:58am

This post that was quoted has been deleted.

No CGT over 65

Under 65 is 19% on the gain.

If you bought a property for 50.000 and it stands you at just for example 57.000 including fees, you then sell it for 70.000.

Subtract the selling costs off 70.000, just for example 7.000 = 63.000

The gain is 63.000 - 57.000 = 6.000

×19% = CGT due €1140

I think!

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