B
bonvoyage123
Guest
Both my parents and I are residents in Co Wicklow. We have a holiday home which I am looking to purchase in Northern Ireland and have a few questions in relation to this purchase.
Given that we are residents South of the border I am assuming that they must pay the capital gains on the difference between purchase price and agreed selling price.
Question 1 : Would I pay the Northern Irish stamp duty or the one charged by the Irish revenue. Currently 7.5% given value of house.
Questions 2 : Is there a break in stamp duty for selling between relatives.
Question 3 : I previously inherited a house from a friend of the family. Then purchased and subsequently sold an apartment in Wexford. Am I technically considered a first time buyer given that the house i live in currently was inherited. Sounds stupid I know however not sure on this one and have scowered the web to find the answer.
Question 4 : How does one come to an agreed selling pricing where it is my interests to keep the value at the lower side of the valuation scale and my parents wish to help me out in this respect. Does one need an estate agent to value accordingly and provide documentation to this effect..
Would appreciate any advice that one might have.
Sincerely
Stephen
Given that we are residents South of the border I am assuming that they must pay the capital gains on the difference between purchase price and agreed selling price.
Question 1 : Would I pay the Northern Irish stamp duty or the one charged by the Irish revenue. Currently 7.5% given value of house.
Questions 2 : Is there a break in stamp duty for selling between relatives.
Question 3 : I previously inherited a house from a friend of the family. Then purchased and subsequently sold an apartment in Wexford. Am I technically considered a first time buyer given that the house i live in currently was inherited. Sounds stupid I know however not sure on this one and have scowered the web to find the answer.
Question 4 : How does one come to an agreed selling pricing where it is my interests to keep the value at the lower side of the valuation scale and my parents wish to help me out in this respect. Does one need an estate agent to value accordingly and provide documentation to this effect..
Would appreciate any advice that one might have.
Sincerely
Stephen