G
greenfly
Guest
Hi,
I'm getting a job transfer to the US in the next few months and am thinking about my financial options for the move and would appreciate some advice / ideas. This is likely to be a 3-4 year stint in the US, followed by a (permanent) move back to Ireland.
I bought an apartment 1 year ago and currently owe €220k mortgage - the market value is approx €360k. My intention is to sell the apartment (can't rent it out due to stamp duty clawback), but have a few questions:
-How quickly can I sell a property? Assuming I find an interested buyer (I know - big assumption), how quick can the entire process be? Must I be in the country to finalise the deal or can a solicitor tie things up for me?
-What should I do with the ~€140k I realise from the property? One idea is to buy a property in the US, but there is plenty of scaremongering over their 'property bubble' at the moment. Are there other good investment areas for a lump sum of this size for a couple of years?
-Is there any problem bringing that money over to the US (tax issues?) if I decide to purchase a property there?
Any other creative ideas of how to best manage finances in this situation?
Many thanks.
I'm getting a job transfer to the US in the next few months and am thinking about my financial options for the move and would appreciate some advice / ideas. This is likely to be a 3-4 year stint in the US, followed by a (permanent) move back to Ireland.
I bought an apartment 1 year ago and currently owe €220k mortgage - the market value is approx €360k. My intention is to sell the apartment (can't rent it out due to stamp duty clawback), but have a few questions:
-How quickly can I sell a property? Assuming I find an interested buyer (I know - big assumption), how quick can the entire process be? Must I be in the country to finalise the deal or can a solicitor tie things up for me?
-What should I do with the ~€140k I realise from the property? One idea is to buy a property in the US, but there is plenty of scaremongering over their 'property bubble' at the moment. Are there other good investment areas for a lump sum of this size for a couple of years?
-Is there any problem bringing that money over to the US (tax issues?) if I decide to purchase a property there?
Any other creative ideas of how to best manage finances in this situation?
Many thanks.