Selling procedures

[LondonSoo]

Dear all

I hope you are all well and enjoying your pizza of bella Italia.

Just to ask for your experience - have any non-residents sold their holiday home (for their sole use purpose only) in Italy and, if so, did you use an agent? Who organises the Italian Notary in a sale as in my purchase my agent organised the Notary. Has anyone placed their Italian holiday home for sale in a UK auction house?

Be good to hear from you.

Regards

[Dermot Brophy]

Dear Londonsoo - (is the name modelled on "Liverpool Lou")?!!!

I notice that your enquiry was greeted by a deafening silence. This, no doubt, reflects the fact that few, if any of us have actually sold.

We haven't, either, but just one little tit-bit by way of reminder, (I'm sure you know already), is the matter of Capital Gains tax.I understand that if you sell within 5 years of purchase, you are liable to this unpleasant thing - so, be warned if this info is any way relevant.


My gut feeling is that you might use an agent here - but also put it on the books of a UK establishment - of course, after discussion with both to iron out who pays what to whom in the way of fees. The alternative is to find a UK agent living and working here. I don't know if any of that breed are left. Is Tony Hacket still around? We all know that he is a helpful and trustworthy chap.

Like many who express views on sundry matters, I have absolutely no expertise in this area, but just thought the one little thing I do know might be of help.

Best of British (luck) to you!

Dermot

[LondonSoo]

Dear Dermot

Thanks heaps for your informative reply. Yes, I'll wait for the 5 years - due in 2011 - to free myself of any Italian CGT, so am considering marketing it now. However, I'll still be subject to CGT in UK if I make a gain over £10,100 at present rates and, with the currency exchange rate, it could push it over boo hoo.

Who is Liverpool Lou? I'm intrigued. I am LondonSoo - as in Sooty and Sweep - I'm Soo.

Hope you're enjoying your Italian cabin in the sun.

oxo

[Dermot Brophy]

Hello there, Londonsoo,

Sorry, I was making allusion to the subject of a song which was popular many years ago - "Liverpool Lou, lovely Liverpool Lou" - it was just the assonance and rhythm of your pseudonym which amused me in relation to the little ditty!!!

We actually love our little retreat in San Nicola - be back over there again next year, for a couple of 6- or 7-week stints. Might get a chance to meet if you are over in May or June.

Best of luck

Dermot