Capital Gains For Selling A House

[blackduff]

I have a friend who decided to sell his new home. This is about 2 years old. He has a mortgage. The agents said he will have to pay 19.6% on the extra gains when he sells the house. I know this is correct but he has to find a way to reduce this amount that the notaire will want.

He has installed carpets, wardrooms, sanitaires, pavings around the house, and other items. Some of the work was done black, so he cannot get any money on this work.

Does anybody know what type of documentation for the notaire is needed. I've told him to photo all of the items and then list the prices for each items. I'm sure a specific form is needed but I cannot find anything on the internet.

Does anyone have any knowledge about this procedure?

Blackduff

[eda66]

If you sell your house "furnished", this could reduce the amount of tax being paid (i.e. you can split the sale price between house itself and furniture/fittings - the tax rate will only apply to the price of the house itself). Guidelines of amount per sq. meter can be obtained from the notaire to ensure a realistic figure in relation to the "surface habitable".

Hope this tip helps to reduce the bill....

eliane

[blackduff]

Thanks Eliane
I have found that you can find an Expert who will determine which improvements and the value of these improvements. This Expert can be found from the Notaires themselves. I guess it's not cheap but it's a good way of determining the added values.

Blackduff