House sale - how long a wait

[ixy]

I've looked through the Property section but can't find my answer.   If a buyer chooses (and the notaire agrees) to the house being paid for in GBP can anyone tell me how long it takes before funds are transferred to your UK bank account?    Other scenario, if the house is paid for in euro's how long does that take before the funds are transferred to your French bank account, bearing in mind that we then have to transfer this ourselves using a money currency exchange company and want to close off our CA bank account completely before we move area?  Thanks for any help. 

[Stan Streason]

I bought in sterling. The UK solicitor holding the funds paid them immediately. The vendor was able to confirm receipt with his bank in UK whilst we were still in the notaires office in France. (Cost me the TT fee of about £20).

[Montcigoux]

If you need the funds on the day of the acte make absolutely sure in writing that the notaire understands this and how you want to receive the money. Otherwise they do tend to faff about and you may have to wait days or even weeks for the money. For payment on the day of the sale your notaire will keep a small amount back for any unpaid taxes. If you are present at the sale he can either give you a cheque in euros or arrange for the euros to be transferred to a bank account. He will need the full bank details for this. However don't have the funds put in your french bank account open a euro account in the UK with either a currency broker or if you have one your UK bank and have the funds transferred directly to that account. You can then instruct either the broker or your bank to transfer the funds into GBP and a UK bank account or a UK solicitors bank account on the day that suits you when you think the exchange rate is most advantageous to you or with a broker you can fix the rate in advance. Above all if you do have the funds transferred into your french bank account do not close the account or tell them that you are closing it until well after they have sent the euros on from your sale as it could delay the transfer while they wait for all the final transactions to come through before closing the account.

[bubbles]

Thanks for that advice, Montcigoux.

It answers a question we were about to ask!

[ixy]

Many thanks from me too Montcigoux for taking the time to reply.