Hi all,
My friend is thinking of selling her apartment that she jointly owns with her friend. They bought it together back in 2007 and both lived there till 2012. They both got married that year and moved elsewhere in the country. They have been renting it since then through a management company, they are registered with the RTB. Her questions are if they sold the apartment in 2024, what are the charges that they would incur? Like myself, they are not sure of the taxes and if they have to pay CGT or any other taxes.
They understand that after the sale of it property, they would have agent fees, and solicitors fees but can someone explain the tax implications?
Property bought in 2007 for €314,000
Values in 2023 at € 315,000
Mortgage owed €190,000
Any assistance would be appreciated.
Pablo74
My friend is thinking of selling her apartment that she jointly owns with her friend. They bought it together back in 2007 and both lived there till 2012. They both got married that year and moved elsewhere in the country. They have been renting it since then through a management company, they are registered with the RTB. Her questions are if they sold the apartment in 2024, what are the charges that they would incur? Like myself, they are not sure of the taxes and if they have to pay CGT or any other taxes.
They understand that after the sale of it property, they would have agent fees, and solicitors fees but can someone explain the tax implications?
Property bought in 2007 for €314,000
Values in 2023 at € 315,000
Mortgage owed €190,000
Any assistance would be appreciated.
Pablo74