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Advice on selling an apartment

  • 10-01-2009 6:42pm
    #1
    paddyland
    Closed Accounts Posts: 932 ✭✭✭


    Hi all, I want to sell my two bed apartment. I have a number of questions, if anyone can help, please.

    1) Can I sell it privately, or must I engage an estate agent? What would either option cost?

    2) Can I advertise on daft.ie? How much would advertising cost?

    3) I owe €172,000 between two mortgages, the main mortgage taken out seven years ago, and a small additional mortgage taken out two years ago. How much will I have to pay the bank to break those mortgage agreements and sell up?

    4) Assuming I found a buyer, how long does the actual sale process normally take?

    5) What are my costs likely to be, solicitors, etc? Will I be liable for tax?

    6) The market is bad now. My North Kildare based apartment was valued at €280,000 two years ago. There is one presently for sale at €260,000, for the past eight months. I imagine I would have to pitch at €220,000 to engage any interest at all. I would accept €200,000, if I thought it would be enough to satisfy the bank, and costs, and have a little left over. What are people's experiences and opinions, please?

    My fear is that if I were to wait another year, and the worst case scenario were to arise in the economy, I would end up owing more than I could sell my apartment for, and I cannot afford that to happen, under any circumstances.

    I am aware of the option to rent out, but I specifically want advice on what selling would involve, in order to be fully informed on all my options.

    Many thanks.


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