Post by: Tony Gillam on May 24, 2017, 08:00.
Dog mess on the pavements
The school's music choice
Painting the balcony railings
Cleaning the Sahara dust off the shutters
Queueing at the car rental desk
I will miss most of the other stuff though
Post by: John H on May 24, 2017, 08:49.
I hope your sale completed in the last few days to take advantage of the favourable exchange rate.
I'd appreciate any learnings you have from repatriating the proceeds of the sale as hopefully I will be in the same situation in the not too distance future
Regards
John
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Post by: Maricia on May 24, 2017, 09:57.
Having now sold after fourteen and a half years, I shan't miss
Dog mess on the pavements
The school's music choice
Painting the balcony railings
Cleaning the Sahara dust off the shutters
Queueing at the car rental desk
I will miss most of the other stuff though
Did you put this list together for your new buyers? :) Best of luck for the future!
Maricia
Post by: puddy-woo on May 24, 2017, 11:24.
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Post by: Duncan S on May 24, 2017, 11:54.
I share your sentiments [ we sold our place on Med II last year ].
For John - we used transferwise to repatriate our proceeds. No problems at all.
https://transferwise.com/ I know people have spoken about them to get money to Spain and in our experience, it's just as easy in the opposite direction, with very reasonable charges.
Once you have decided to 'move on', I hope you are able to sell soon.
Regards
Duncan S
Post by: Tony Gillam on May 24, 2017, 11:55.
A little disappointed with the final sale price but it still seems a buyer's market atm. I have to view it against the overall uncertainty of Brexit and the ongoing cost of ownership. Overall, we've had fourteen years of cheap holidays. Just left trying to guess what the exchange rate is going to do over the next month or so.
Post by: John H on May 24, 2017, 11:56.
I had a chat in Sabadell about their rate and charges, they offered commercial rate at a very low cost of transfer
Regards all
John
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Post by: Spurs on May 24, 2017, 12:01.
Post by: Tony Gillam on May 24, 2017, 12:02.
Post by: John H on May 24, 2017, 12:10.
I have heard all kinds of stories of how to get the cash back here including carrying it in a suitcase . The main issue is you have to pay UK capital gains tax which is quite a big chunk.
I had someone wanting to buy our place a few weeks ago Spurs, he wanted to pay a huge chunk in cash and the rest by bank transfer.
No mention of the cash part was to be mentioned anywhere!!
On the advice of the estate agent, solicitor and bank I refused his offer, a suitcase full of euros is neither use nor ornament to me!!
Regards all
John
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Post by: Spurs on May 24, 2017, 12:32.
The person I knew who carried some cash back about €60000 had a real nightmare changing it or banking it due to the money laundering laws here that are now even tougher
Post by: Corporal Jones on May 24, 2017, 21:21.
Post by: dleafy on May 24, 2017, 22:54.
Having now sold after fourteen and a half years, I shan't missGood luck Tony,we're currently about 100 yards from you & about40 yards from the school. We like their music
Dog mess on the pavements
The school's music choice
Painting the balcony railings
Cleaning the Sahara dust off the shutters
Queueing at the car rental desk
I will miss most of the other stuff though
.Enjoy your retirement.
Cheers
Dave
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Post by: John H on May 25, 2017, 08:56.
Whoever picks the music has a great and varied taste, they play some good music
Regards all
John
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Post by: Stan on May 25, 2017, 12:08.
I have heard all kinds of stories of how to get the cash back here including carrying it in a suitcase . The main issue is you have to pay UK capital gains tax which is quite a big chunk.
For those lucky enough to make a capital gain!
Post by: Corporal Jones on May 25, 2017, 18:18.
Post by: Spurs on May 25, 2017, 21:13.
Post by: John H on May 25, 2017, 21:37.
As it is after 14 years when I deduct the allowable costs we will just about break even.
Regards all
John
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Post by: Spurs on May 25, 2017, 21:41.
Post by: John H on May 25, 2017, 23:28.
Buying costs
Structural improvements.....not things like air con that can be unbolted and general upkeep.
Selling costs
In Spain you can also add onto this your Suma and Tax bills.
Our solicitor, we've used the same one since we bought the place, had all these figures to hand and showed me how she would get our 3% retention back as our "gain" will only be a few hundred Euros
Regards all
John
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Post by: John H on May 26, 2017, 08:57.
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Post by: Graham H on May 26, 2017, 14:03.
Post by: Corporal Jones on May 26, 2017, 17:49.
Post by: John H on May 26, 2017, 17:57.
Our solicitor includes this as part of the sale process.
Conversely if you make a big gain and owe quite a few euros unless the authorities chase you back to the UK you'll only cough up 3%
At today's exchange rate a sale any time soon would be great!!
Regards all
John
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Post by: Tony Gillam on June 10, 2017, 07:52.
I've now got my sale proceeds back on UK territory. A bit of a convoluted procedure and, as expected BBVA charged for the bank draft going in and then charged again to send to money to my UK a/c. The whole exercise took a couple of weeks too. It would have been easier to have shown up at the notary myself, collected the bank draft and brought it back to the UK and paid it in. I could have shaved about eight days off.
I've swapped half of it from UK Euro ac to my sterling one, a procedure that takes three days, substantially faster than BBVA did to effect an interbank transfer. Just watching to see the effects of "a period of stability" now before switching the rest.