How can I find out about ‘quiet sales’?
Q Some weeks ago in an article on people selling houses quietly, one of your columnists wrote about a road in Dublin 6 where there are 11 houses for sale and only one ‘For Sale’ sign up. But how is a prospective buyer supposed to know about these houses and why do sellers do that anyway? Doesn’t it work against them?
I looked on the web, with no luck, and I contacted three agents enquiring about these off-market houses and got nowhere, even though I am actively looking to buy and am frustrated by the lack of choice, with few new houses coming on the market.
AThe way to find out about houses selling quietly (as estate agents call it) is to contact the estate agents in your preferred area and speak to the right person. It's no good talking to whoever answers the phone – ask to talk to the branch manager and tell him or her what you are looking for and in what price range.
Houses that are on the market quietly are typically at the top end. The agent will be as interested in forming a relationship with you as you are with them. They’ll want to suss out if you are serious or not in terms of loan approval, whether you have to sell to buy, etc.
There are many reasons why people don’t want to go public with a sale. Some fear that in this environment a ‘For Sale’ sign gets tongues wagging about why they are selling. Some houses have been on the market so long that the sellers are simply sick of looking at the sign on their railings and want it down.
One estate agent told us about an elderly client who was selling up but didn’t want the neighbours to know. She didn’t want a sign, but was happy to have the listing on the website as she felt that her similarly elderly neighbours wouldn’t be surfing the web.
As the reasons are many, don’t automatically expect a bargain or act quickly believing that, because the house is not on the open market, you are in on a secret deal – take your time.
How long before I am ‘resident’ in France?
Q I intend spending more time in my holiday home in France and want to become resident there for tax purposes. Is there a certain period of time I have to spend there to qualify?
AAn individual is regarded as being resident in France for tax purposes if they spend more than 183 days there per year, or if one of the following is satisfied: their principle private residence is in France; they carry out employment or independent services (unless ancillary in nature) in France; their primary economic interests are derived in France. Getting to grips with the tax system in one's own country is difficult enough without trying to figure out how it works abroad. So get professional advice. There are specialist companies working in this area such as Dublin-based Property Tax International (info@prireturns.co). It is important to know where you stand on tax issues before you make your move.
Your questions
Send your queries to Property questions, The Irish Times, The Irish Times Building, 24-28 Tara Street, Dublin 2 or e-mail propertyquestions@irishtimes.com. This column is a readers’ service and is not intended to replace professional advice.
