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RE: Guarantor in property sale query

Posted by helen poskitt - Created: 6 years ago
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1 reply

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Posted by Olivier06480 - 6 years ago

Quite simple: If your capital gain is below 150 000 Euros, then no guarantor is needed;If it is above, you need a guarantor.
Yes, it may seem like a good idea not to use an estate agent as you think you are saving fees, but... an agent would have told you about the threshold. Now, you are just losing time and money where you thought you would have saved both...Likewise, it is not a good idea to use a friend. You may be saving 1200 Euros at first, but then what if your friend (who has to be french resident and paying his taxes in france) encounters difficulties ? Tax authorities would know he has been a guarantor for a property sale, and, understandably, they will not necessarily believe he will have done that for free...
This is not car dealing, it is property business, always use professionals. Yes, there are costs involved, as with everything.

Good luck