Could international money transfers to the US help buy a distress property?

International money transfers to the US might be come increasingly popular among people looking for a bargain.

According to the latest sales figures from the Orlando Regional Realtor Association, 75 per cent of properties sold in January were through banking controlled foreclosures and short sales.

This means that just 25 per cent of sales were through regular sellers.

As such, overseas property buyers can snap up a house for significantly less than the market rate, with the average sales price of a short sale property coming in at $75,000 (£46,647) compared to that of a regular property on the open market, which is going at around $145,000.

Using an international money transfer system to move your funds to the US will help to keep this cost as low as possible by avoiding high foreign exchange fees.

Commenting on the market conditions in Orlando, Colin Murphy, director of Florida specialists Torcana Ltd, said: "Opportunities abound in markets like this, but buyers should tread carefully and invest conservatively.

"While prices are at record lows and statistics point to a market that is bottoming out, a conservative "buy and hold" strategy will serve you best in the long run."

Click here to make an International Money transfer to the US

Posted by Sarah Pitton