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Buy to let property abroad

first78 · 2016-11-27 11:13:27

My parents are currently thinking of selling a property they own in Portugal. They have had a couple renting it for £1100 per month for the last 15 years. The property is 5 bedrooms with a good bit of land and the first valuation they had was £230k...I think they were expecting more around the 300k mark. I don't really…

Comments

G_M Posts: 51,977 Forumite

28 November 2016 at 12:48PM

Childhood attachment.

Since the finance does not stack up, we need to understand why the parents want to sell:

* they need the cash
* it's becoming too costly to maintain
* they are simply not using it
* they have some plan (which I can't quite see) to reduce their future tax liability (eg IHT)
* they fell out with the locals and just want out

Depending on the answer, you might reach an agreement with your parents which benefits both

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