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How to sell an investment property abroad?

  • 30-01-2021 7:25pm
    #1
    VonLuck
    Registered Users, Registered Users 2 Posts: 2,360 ✭✭✭


    I'm trying to do some research for a relative who purchased an investment property abroad during the boom times and is now looking to sell. How exactly would they go about this? Is it as straight forward as approaching a local estate agent in the country and getting them to put it on the market?

    I'm sure there's a guide out there, including all the relative financial and tax implications, and would much appreciate it if you could point me in the right direction. Thanks.


Comments

  • #2
    Sixtoes
    Registered Users, Registered Users 2 Posts: 727 ✭✭✭Sixtoes


    VonLuck wrote: »
    I'm trying to do some research for a relative who purchased an investment property abroad during the boom times and is now looking to sell. How exactly would they go about this? Is it as straight forward as approaching a local estate agent in the country and getting them to put it on the market?

    I'm sure there's a guide out there, including all the relative financial and tax implications, and would much appreciate it if you could point me in the right direction. Thanks.

    What country/ region?


  • #3
    VonLuck
    Registered Users, Registered Users 2 Posts: 2,360 ✭✭✭VonLuck


    Sixtoes wrote: »
    What country/ region?

    France. I'm guessing the approach is different depending on the country?


  • #4
    DubCount
    Registered Users, Registered Users 2 Posts: 1,094 ✭✭✭DubCount


    If its a lease back property in France, you could face a struggle to sell. If its a regular property, it should be fine through a local agent.


  • #5
    VonLuck
    Registered Users, Registered Users 2 Posts: 2,360 ✭✭✭VonLuck


    DubCount wrote: »
    If its a lease back property in France, you could face a struggle to sell. If its a regular property, it should be fine through a local agent.

    Yes, it is a lease back. What are the main issues around selling that kind of property?


  • #6
    DubCount
    Registered Users, Registered Users 2 Posts: 1,094 ✭✭✭DubCount


    VonLuck wrote: »
    Yes, it is a lease back. What are the main issues around selling that kind of property?

    Firstly, there was a saving of VAT when the property was purchased. If you sell within a certain period (20 years I think) there is a claw back of that VAT saving.

    Several leaseback property developments ran into problems with the management company running into problems.

    The big issue is whoever buys the property, has to take on the lease. This makes the second hand market very restricted. If you google French leaseback resale you'll find lots of discussion on the topic.

    Let me put it this way, I haven't come across anyone who has managed to sell a French Leaseback property. Maybe some other posters on here have.....


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  • #7
    VonLuck
    Registered Users, Registered Users 2 Posts: 2,360 ✭✭✭VonLuck


    DubCount wrote: »
    Firstly, there was a saving of VAT when the property was purchased. If you sell within a certain period (20 years I think) there is a claw back of that VAT saving.

    Several leaseback property developments ran into problems with the management company running into problems.

    The big issue is whoever buys the property, has to take on the lease. This makes the second hand market very restricted. If you google French leaseback resale you'll find lots of discussion on the topic.

    Let me put it this way, I haven't come across anyone who has managed to sell a French Leaseback property. Maybe some other posters on here have.....

    I guess that's understandable. Certainly not as attractive an investment for most. I don't believe the person in question has any particular urgency to sell so if it has to be on the market a while I don't think it'd be an issue.

    That information is good to know though. Will definitely help me in my research.


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