Selling your home in France

[Pudding]

.....Seems the way things are we should have a forum with this heading, but anyway.

I cannot see where this has been asked before but does anyone know if, when having sold your French home, you can ask for payment in sterling and if so, what would be the best way to determine the exchange rate?

The reason for asking is that from experience it takes ages to clear an euro cheque in the UK - not to mention the charges. One recent example - we've just paid one into our UK account for Euro 5k and have been told it will take five weeks to clear at a cost to us of £35. Another example as if needed was asking for Euro 500 to be wired from Hamburg to Paris.... tens days plus a Euro 25 charge.

I could have walked it quicker!

Cheers folks.

 

[andyh4]

You can do a bank to bank transfer from France to the UK.. For the amount of money involved in selling up you will be charged a fee for the money laudering checks that have to be done. 

 

I understand that it is technically possible to do a deal in Sterling, but many notaires are not willing to do so.

[Pudding]

Thanks Andy.

Slightly off topic but I did a bank to bank transfer about five years ago - through the Post Office in the UK, and using a company called MoneyGram.

We sent out £500 pound to our destitute son in Australia.... and it finished up in Canada! It was a real hassle sorting it out but we got the money back - eventually. I've not trusted such transfers since and do you know what the worst part was? the Post Office would not accept ANY responsibility for the loss. 

 

[Théière]

Sorry to hear that but the post office? there are many services that you will find via a search of the forum.

Money bookers

HIFX

Are two that I use regularly without any problems

Other popular ones

Forex, currency solutions, currency 4 less, etc

[Baz]

Having been in this situation in the past, this is the method I used. The Notaire transfers the Euros to your French Bank (normal practice but this can be delayed whilst tax is calculated) and you should arrange the transfer from your French Bank  to your receiving bank using money brokers who will agree exchange rates beforehand (usually very good) and charges. I assume that as this will be a sizable amount that you will have to confirm with your French Bank their requirements which will include money laundering checks for the Bank of France. Provided you complete all the requirements for the Notaire and the bank in advance the actual transfer should take just a few days and with very little hassle.

Baz

[Stan Streason]

Are you selling to someone who is paying in Euros, or to English who would rather pay in sterling anyway?

[Pudding]

.....selling to a French couple Stan.