Currency Exchange

If you are buying a property in the USA, it is very likely that at some stage you will need to convert funds into US Dollars. Currency exchange is often overlooked and left until the last minute, which could seriously damage your cash flow. However, plan in advance and you could literally save thousands of dollars. You should register with a currency exchange company as soon as possible. This will allow you to act quickly when exchange rates are favourable. We would advise that once you have found a property you want to buy, your forward book your exchange rate. Normally you will pay 10% of the amount of US Dollars booked, and the rest is paid when you need the funds. Booking can be made up to 18 months in advance. By forward booking, you are in effect “locking in” the exchange rate, so regardless of fluctuations in exchange rate; you know exactly what your costs are in your local currency.

Click on the link below to go direct to the Global Currency Exchange Network website and register.