Newbie needs advice.

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Newbie needs advice.


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Old 26th May 2008, 06:40 PM
 
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Dotty is on a distinguished road

Default Newbie needs advice.

Hello,

I am new but ironically looking for advice on leaving France!!! We have been here for years, had children, found jobs, built a house etc but family issues are taking us back to UK.

Sooo, here's load a questions we are dealing with (badly) and need some help.

1. We have an offer on the table for our house, it's quite a lot lower than we were hoping for but it comes from the only people who have viewed it 8 months. Is it worth hanging out for more viewers and maybe a better price or is the market at such a standstill we are better off taking it?

2. What is the deal with Capital Gains Tax? I know we are not liable if we are resident in the house when we sell it, but what if we are back living and working in the UK before this house is sold? By living and working somewhere else have we automatically made this house a secondary residence? Getting a lot of conflicting advice on this one.

So, not that many questions, just two but we'd be really grateful if anyone has some answers to them.

Thanks in advance.

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Old 27th May 2008, 06:33 AM
 
Join Date: Aug 2007
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giantpanda is on a distinguished road
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Default

Hi!

To 1: Depending if your house is in town or in the countryside, the sale potential can be quite different. It is certain that sales are more difficult because:

- buyers expect the prices to go down
- French bank ( for most French buyers ) has stiffened their appreciations concerning mortgages and in-between credits.
- that due to the new health regulations expats who in the past were considering coming to France on " pre-pension" find themsleves in quite a new postion.

To 2: Basically you have 1 year to sell your house to benefit from the no added value privelege, as long as you do not rent.
However if you can prove that you have put your house on the market ( Immobiliers, Adverts, correspondances ) you can usually stretch that delay to 2 years.
You do not have to continue to be present at all.

You can rely on this.

Quels sont les cas d'exonération des plus-values immobilières ? - Service-public.fr

Yours,

giantpanda

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