Thought I had found the perfect apartment but owner wanted part-payment under table. I can understand owner not being fan of 20% tax for resale within 5 years but couldn't see any benefit for me - declared purchase price wouldn't reflect amount I paid, if I need to sell up and move country I would have to pay tax on the spread which wouldn't reflect higher amount actually paid, including 20% if resale within 5 years.
I would also need to show paper trail for purchase to take proceeds out of the country but convertible dh account would only show the declared purchase price as the amount paid.
Any thoughts as to possible benefits for expats on such a deal?!
Have walked away but only after major headache including seduction attempts by owner's agent in attempt to get me to agree to part payment in the black!
