Buying property in France: Purchase Price VS Furniture Pack’
Discussion
I should know the answer to this already; having bought property in France... but I’m unsure...
Buying an apartment; the seller has agreed to a very low price - if I agree to shave 5k off the already low price and transfer that for ‘furniture and fixings’ - saving them (and I) a little on the legal fees.
Is there any reason NOT to do this? For example, capital gains stinging me further down the line, having bought at a low price in the first place?
Any tips appreciated!!!
Buying an apartment; the seller has agreed to a very low price - if I agree to shave 5k off the already low price and transfer that for ‘furniture and fixings’ - saving them (and I) a little on the legal fees.
Is there any reason NOT to do this? For example, capital gains stinging me further down the line, having bought at a low price in the first place?
Any tips appreciated!!!
It's commonplace in france , I've done it twice when selling over there .
You've answered your own question though , yes your tax liability will be a little more if when you come to sell you've made a profit , although you could just do the same with your future buyer , I sold both times to French people and they didn't bat an eyelid .
You've answered your own question though , yes your tax liability will be a little more if when you come to sell you've made a profit , although you could just do the same with your future buyer , I sold both times to French people and they didn't bat an eyelid .
paulwirral said:
It's commonplace in france , I've done it twice when selling over there .
You've answered your own question though , yes your tax liability will be a little more if when you come to sell you've made a profit , although you could just do the same with your future buyer , I sold both times to French people and they didn't bat an eyelid .
Thank you! Yes, it seems as I expected. I'll just do the same if the day ever comes, we sell it. Thanks again.You've answered your own question though , yes your tax liability will be a little more if when you come to sell you've made a profit , although you could just do the same with your future buyer , I sold both times to French people and they didn't bat an eyelid .
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