Gran Alacant Forum

Gran Alacant Forum => General Discussions => Topic started by: mike and judith on January 16, 2015, 13:27.

Title: Resale property
Post by: mike and judith on January 16, 2015, 13:27.

Can anyone advise please on taxes due on resale purchases?
Considering one at the moment, but want it to be GA still. (Added this to dispel any rumour)

Title: Re: Resale property
Post by: BeachLife on January 17, 2015, 11:08.

Hi Mike - hope all is well.

This isnt anecdotal as a friend of mine who purchased a "bargain" down in Algorfa had a issue.

He bought a resale on La Finca Golf last year. A nice property that was bought new in 2007 for €200K.  None us need reminding about the price collapse and you can imagine he was pleased to pay €115K for it. The transaction went through and he paid the appropriate tax on the sale at the time which I think was about 10% on the €115k.

However he has been advised that he may now face a bill for the the difference between the €115K and the "Valor Castaral" - which is still €200K

His lawyer is engaged !

As you know one of the best around here Mike - ask J-Luis see what he says

Title: Re: Resale property
Post by: mike and judith on January 19, 2015, 10:11.

Thanks for that Rich.  I'll explain when next I see you.
Regards,
Mike