International money transfer could help overseas property purchasers

Britons who are considering buying a property in the US may want to consider making an international money transfer in order to get a good rate of currency exchange.

Annette Reeve, the director of Mayfair International Realty, has suggested that people from the UK could pick up a bargain on property in the US.

"I think also the concept still is that house prices there are low and maybe people are going to go out there thinking: 'Oh good, I'll get a bargain'," she said.

"If vendors are reading these reports and then a Brit comes in and says: 'Here's my money. Take it or leave it', maybe they will get a good buy and maybe the sellers will take a bit of a drop."

The comments follow the latest report from the National Association of Realtors, which revealed that sales of existing US homes fell by 27.2 per cent in July.

Ms Reeve added that UK property buyers were waiting to see what was going to happen with the market in Britain before venturing into foreign property.

Click here to make an International Money transfer to the US

Posted by Sarah Pitton