CGT question...

Mocrie14

Not sure if this is the right forum but here goes - if I put my PPR up for sale (with no pp) and a developer buys it, am I liable for CGT on the diff between the price I get and the price I would have got if someone had just bought the house to live in?

How does this work???????? Surely I'm not liable??????????? How am I supposed to know the purpose for which someone buys my house????

A Random Walk

You normally don't have to pay CGT on a sale of your PPR, but best talk to an expert. What do you mean "no pp"?

Why would a developer pay more than if someone wanted to live in it (this country has gone property nuts)?

Mocrie14

A Random Walk wrote:

You normally don't have to pay CGT on a sale of your PPR, but best talk to an expert. What do you mean "no pp"?

Why would a developer pay more than if someone wanted to live in it (this country has gone property nuts)?

By 'pp' I mean planning permission. When for sale the property was advertised as having 'development potential'

I just dont see how I can be liable for CGT. How can anyone prove that the builder paid more than someone who wanted to live in the house? I've no control over whatever the buyer decides to do with my house. As it is, I'm getting far less then had I sold it a year ago.

c.c

Hi guys/gals,
Ive noticed you lot are pretty informed, and i need advice.
We are in the lucky position of having secure jobs in the public sector, secure but not lucrative.
We were given a house with our job eight years ago and after the sale of our house decided against advice at the time to sink our money into another house, with the view that if everything fell through we would have somewhere to live.
With three small kids at the time this was a good move.
The house cost us at the time 255.000 and now is probley worth 800.00/50, 9 at a push, our morgage is 150,000. Have any of you any idea, should we sell and sit and see what happens? Is the slow down due to the election and buyers waiting to see what happens with stamp duty? Or is it a combination of intrest rates and the "soft landing"? Any adice you guys at the coal face have would be
gratefully recieved.c.c

PDelux

Ive noticed you lot are pretty informed, and i need advice.
We are in the lucky position of having secure jobs in the public sector, secure but not lucrative.
We were given a house with our job eight years ago and after the sale of our house decided against advice at the time to sink our money into another house, with the view that if everything fell through we would have somewhere to live.
With three small kids at the time this was a good move.
The house cost us at the time 255.000 and now is probley worth 800.00/50, 9 at a push, our morgage is 150,000. Have any of you any idea, should we sell and sit and see what happens? Is the slow down due to the election and buyers waiting to see what happens with stamp duty? Or is it a combination of intrest rates and the "soft landing"? Any adice you guys at the coal face have would be
gratefully recieved.c.c

Is this because of the Property Crash programme on RTE last night? (just curious)
I don't think anyone could really tell you to sell your house, without knowing where you and your family are going to live. I mean, are you looking to sell so you can move somewhere better(in which case you may need to raise more money) or to move somewhere less desirable and keep a profit?

SteadyEddie

I am not an Irish home owner, and I certainly would not be buying now. It all depends on your circumnstances really if you should sell. The price will not retract to your buying price, but prices are going to correct, its not a matter of if, but when. IMO