Hi,
I will try to keep this short. I bought a 1 bed apartment in June 2002 with a mortgage of €225,000. I got a variable rate and have had it ever since. (The actual price paid for the apartment was €250,000) It was my PPR until Nov 2004. The apartment has been rented since Nov 2004. As of end of Dec 2014, the amount left on my mortgage is €149,000. I am now looking to sell my apartment.
What I would like to know is:
1. I have been given a guide sale price of €220,000 by an estate agent
2. I believe that for the period that it was rented there will be a CGT charge on the proceeds (profit??) from the sale? Is that correct? and would someone be able to explain how this is calculated?
3. Aside from estate agent and Solicitor fees would there be any other fees that I would incur with the selling?
Thank you so much for any advice.
I will try to keep this short. I bought a 1 bed apartment in June 2002 with a mortgage of €225,000. I got a variable rate and have had it ever since. (The actual price paid for the apartment was €250,000) It was my PPR until Nov 2004. The apartment has been rented since Nov 2004. As of end of Dec 2014, the amount left on my mortgage is €149,000. I am now looking to sell my apartment.
What I would like to know is:
1. I have been given a guide sale price of €220,000 by an estate agent
2. I believe that for the period that it was rented there will be a CGT charge on the proceeds (profit??) from the sale? Is that correct? and would someone be able to explain how this is calculated?
3. Aside from estate agent and Solicitor fees would there be any other fees that I would incur with the selling?
Thank you so much for any advice.