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Tax on Selling an Apartment
Hello all.
I am planning on selling my apartment (my principle and only residence) and returning to my country of birth.
There are 9 years remaining on the Mortgage = -/+ 100k yet to pay.
Over the 11 years i have been paying the mortgage it has increase in value (recently valued by an agent).
Bought for 200k, expect to sell for 300k = 100k 'gain'.
My question is, will i pay a TAX when i sell my apartment, specifically on these capital gains i'm guessing?
I obviously would like to walk away with as much as possible, as i will need to purchase a residence on returning to Ireland.
I'm guessing there must be some form of Private Residence Relief? Whereby i never bought it just to make a gain and need the monies to purchase a replacement home.
Please if anyone could give me a few pointers, as accommodation in Ireland don't come cheap.
Thank you. Enjoy the weekend.
ANON...You probably need to ask someone if your posts that always follow mine could be considered to be the work of a juvenile troll. Someone who will tell you the truth.
Before selling your apartment, have several agents come to make estimates. I was astounded at the disparity in estimates I received when selling and there is no property register here that would help you get an accurate figure. Good luck!
Mickey ... You probably need to ask someone if your delusional posts about FACTA could be considered to be the work of a juvenile troll. Someone who will tell you the truth.
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