Selling apartment from the UK

jaydeemdm2008 · Post by **jaydeemdm2008** » Mon Apr 14, 2008 11:51 am

Hello!

We are planning a private sale of our 1 bedroomed apartment in the centre of Carvoeiro and are wondering if it can all be done in the UK - to try and reduce currency conversion costs etc? We are unsure of how this would work eg. legal implications. ANY advice ( and enquiries of course!) would be much appreciated!

Many thanks!

fmm · Post by **fmm** » Mon Apr 14, 2008 11:55 am

When I bought my apartment a few years back we did the bulk of the currency exchange in sterling, with just the deposit in euros. However, it was sold by a UK resident to a UK resident, so it just seemed the easiest thing to do. Depends on how accommodating the solicitor is as well I would have thought. The solicitors and estate agents were both Portuguese companies operating in Cvo.

JohnT · Post by **JohnT** » Mon Apr 14, 2008 2:38 pm

If you a selling a property here then the currency exchange has worked in your favour as in sterling terms you property is worth more as the sterling/euro exchange rate moves lower (less euros to buy the same amount of sterling). It is important if you consider an offer in sterling therefore to check what the current exchange rate is and make sure you are getting a fair market price for the property in euros. Hope this makes sense/helps

Misty · Post by **Misty** » Mon Apr 14, 2008 2:51 pm

Could you send me details of the apartment? Thanks

jaydeemdm2008 · Post by **jaydeemdm2008** » Tue Apr 15, 2008 12:12 pm

Hello again!

A Euro deposit and Sterling balance seems a sensible way to go about this - how does it work as regards the buyer's solicitor having the holding account in 2 different currencies or am I just being stupid?

Many thanks for your helpful replies!

jaydeemdm2008 · Post by **jaydeemdm2008** » Fri May 23, 2008 8:28 am

Hello!

Our apartment is still up for sale and if anyone l is interested in viewing, we will be in Carvoeiro from 3th June until 12th June. We have a website if anyone is interested.

Looking forward to our trip!