I Sold My Leaseback!

Think this is my first post, but anyway, may be helpful.

Bought 2004 @€280k in Beausoleil.(with parking)

Sold last month @€200K.

It covered mortgage redemption, and I've had the benefit of VAT refund @€50k circa. Leaseback was with P&V, received rent every year on time, circa 9k. This year's outstanding rent will be paid to me soon, 8k as year was almost up. No TVA refund, lease continued by new owner.

So, paper loss, but cash out of pocket relatively small.

Sold through P&V Revente, but it took 2 years. Received some advice from experts associated with this website also.

Prices are poor and I was glad to sell. Load off my back. P&V refurbishment bill coming down the track now not a problem.

P&V Revente were less than accurate about fees, I ended up forking out for SARF tax clearance. Essentially €1400 to confirm I had a cgt loss.

I also had minimal Notary fees.

BNP Paribas charged penalty €3500 to redeem mortgage - and were appalling to deal with despite never a payment being missed. Avoid like the plague and don't expect any favours re. penalties etc.

It was an excellent development overlooking Monaco, top floor with seaviews, but buyers are scarce and Banks a bit scared. So prices not heading north anytime soon.

Anyway, overall, the point is a leaseback can be sold. I'm a little stung on the money front short term - but better off long term. I'm thrilled it's gone!