Hi,
I bought House A 3 years ago in my home town and I lived there for 2 years. Then I got transferred with work to another part of the country about 9 months ago. About 5 months ago I bought House B in my new location. I didn't rent out House A, I just used it for weekends. I delayed putting House A on the market because of the big slowdown and there was a sudden chance of a return to my home town. The return to my hometown didn't work out so I'm now going to sell House A.
I am aware that I have 12 months grace to sell House A. Is there any issues with this 12 months grace that I need to look out for? I don't want to keep the house and rent it out because I will have to pay a stamp duty clawback and then when I go to sell it at a later date I will be hit for capital gains.
Any advice greatly appreciated...
D
I bought House A 3 years ago in my home town and I lived there for 2 years. Then I got transferred with work to another part of the country about 9 months ago. About 5 months ago I bought House B in my new location. I didn't rent out House A, I just used it for weekends. I delayed putting House A on the market because of the big slowdown and there was a sudden chance of a return to my home town. The return to my hometown didn't work out so I'm now going to sell House A.
I am aware that I have 12 months grace to sell House A. Is there any issues with this 12 months grace that I need to look out for? I don't want to keep the house and rent it out because I will have to pay a stamp duty clawback and then when I go to sell it at a later date I will be hit for capital gains.
Any advice greatly appreciated...
D