Which visa for this situation?

[BritishGuy36 0]

If you are getting near to the six months for the visa expiring, fly to New York for a quick vacation. Activate the visa and then come home again.

I could do that - but the problem is that the moment I become an LPR I am liable for US capital gains tax on profits on my UK house sale. So it's most likely much cheaper to get another visa than give them thousands out of my pot of cash. I know I'd have to start again with the visa though.....just hope the house sells soon.

Edited June 21, 2008 by BritishGuy36

[Lansbury 19]

I could do that - but the problem is that the moment I become an LPR I am liable for US capital gains tax on profits on my UK house sale. So it's most likely much cheaper to get another visa than give them thousands out of my pot of cash. I know I'd have to start again with the visa though.....just hope the house sells soon.

Are you sure about that, quite a few other people have sold their UK houses after moving to the US and didn't seem to have problems.

The sale of our UK house completed after we had arrived in the US and our US accountant certainly didn't mention US capital gains tax nor have we paid any.

[BritishGuy36 0]

Hmmm that's interesting - further investigation required then.

It may be moot anyway....we had an offer on the house this morning - not as much as we wanted but it's a workable offer....just need to nudge them up a grand or two and we will accept the offer!

[Lansbury 19]

Hmmm that's interesting - further investigation required then.

It may be moot anyway....we had an offer on the house this morning - not as much as we wanted but it's a workable offer....just need to nudge them up a grand or two and we will accept the offer!

That's good especially in the current house market

[BritishGuy36 0]

We got them up another two grand and accepted the offer. It's not a good offer, and is 13% below what we originally had the house up for, but in the current market it was a case of get what you can while you can, otherwise it will be years before house prices even come back up to their current levels.

The good thing is that the couple buying it are expecting in two months, so it's in their interests to get the house bought ASAP - I anticipate we will be out of the property in 6 weeks tops!

[Lansbury 19]

We got them up another two grand and accepted the offer. It's not a good offer, and is 13% below what we originally had the house up for, but in the current market it was a case of get what you can while you can, otherwise it will be years before house prices even come back up to their current levels.

The good thing is that the couple buying it are expecting in two months, so it's in their interests to get the house bought ASAP - I anticipate we will be out of the property in 6 weeks tops!

Glad it worked out OK, have followed your comments on BE.

I think you're wise to accept what you can get now others haven't even got any offers. We were extremely lucky that fate made it possible for us to get out in 2006 while house sales were still buoyant.

[BritishGuy36 0]

Indeed, you definitely moved at the right time, we thought about it in spring 2007 and we should have just done it instread of hanging around, probably would have got another 10 grand GBP for our house.

Oh well.....at least there is still decent equity in our house right now, the house sale seems to be progressing as planned, hopefully we will be all done in a few weeks.

[Lansbury 19]

Indeed, you definitely moved at the right time, we thought about it in spring 2007 and we should have just done it instread of hanging around, probably would have got another 10 grand GBP for our house.

Oh well.....at least there is still decent equity in our house right now, the house sale seems to be progressing as planned, hopefully we will be all done in a few weeks.

It's a buyers market in most of the USA right now and likely to be for sometime yet. Hopefully what you loose on the sale you'll make up when you do eventually buy over here.

[BritishGuy36 0]

Yeah. Plus the exchange rate is creeping up again....just a smidge below $2 to the quid now, for the amount we hope to take over it's gone up $3000 in the last fortnight...

[Lansbury 19]

Yeah. Plus the exchange rate is creeping up again....just a smidge below $2 to the quid now, for the amount we hope to take over it's gone up $3000 in the last fortnight...

Yes I'm watching it very closely at the moment. I have my job pension transferred over every month and it will be due soon to set up the next contract with MoneyCorp. Usually fix the rate for 2 years so I know each month what I will receive, and that is normally about 5 points below the spot rate on the day it is arranged, anything around $1.95 for the contract would be nice.