Rate Alerts

If you'd like to make your transfer at a specific rate but don't want to commit yourself, use a TorFX Rate Alert.

SImply pick the rate you're waiting for and we'll let you know as soon as the market moves to that level.

You can set a Rate Alert over the phone, online or through the TorFX mobile app.

TorFX - Forward Contract - Limit Order - Stop Loss Order - Recurring Overseas Payments

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TorFX Stop Loss Order

If you don't want to move your money at the current rate but are concerened that it may worsen and wish to control this risk, you can ask us to execute your transfer if the exchange rate deteriorates to your specified level.

This allows you to wait for a better rate, but lock in a worst-case rate should the market move against you.

TorFX - Forward Contract - Limit Order - Rate Alerts - Recurring Overseas Payments

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Buying a House in France

Whether buying a French house as a second home, holiday home or to start a new life, buying a French property is really straight forward.

The most important person involved in a property sale in France is the notaire. A notaire sorts out the legal side of the sale, as a solicitor would do in the UK. Notaires are obliged to be impartial (they are regulated by the French government) so it is very common for the same office to deal with both the buyer and the seller. This should be quicker. Otherwise the buyer can employ their own notaire to work alongside the sellers. The process is thorough and fair. The notaire handles the funds for the sale and at the same time acts as a tax man: transferring land and house taxes to the new owner; searching for and reimbursing any debts (loans or mortgages) tied to a property; calculating and collecting any income tax due by the seller. The cost of the notaires services (notaires fees), including a land registry fee and various sales taxes, are all paid by the buyer. These fees vary between 2% and 8% of the property’s value, depending on the property’s age and value. Important to budget for these charges if you are buying a house in France.

Notaires also sell houses direct. Their offices resemble an estate agent with property adverts in the windows. If you view a property through a notaire and decide to buy you will be eligible for a “negotiation fee” similar to an estate agents commission.

Estate Agency fees in France are paid for by the buyer. You may notice the letters “FAI” next to the price. This stands for “Frais Agence Inclus” Agency Fees Included. So the price displayed  includes agency fees. Estate agency fees in France vary between 2% and 12%. The term was abused to conceal how much exactly the buyer was paying in agency fees. Therefore since 2017 it was made illegal to just display one price with FAI without equally showing how much the estate agent is charging. Today all estate agencies have to declare clearly what their charges are and who they are. Now the price is displayed as "net vendeur" (owners price) or "prix hors honoraires" (price excluding fees) followed by the percentage being charged by the agency. Some examples:

76,320€ FAI

just declaring the final price, illegal since 2017

Honoraires à charge acquéreur : 6%

Prix hors honoraires : 72,000 €

SARL Blogs

Buyers fees: 6%

Price excluding fees : 72,000€

Who agent is and they are registered

76,320€. 72,000€ + Honoraires de négo. : 4,320€ (soit 6% à la charge de l'acquéreur)

SARL Blogs

76,320€ (Total price). 72,000€ + negotiation fees : 4,320€ (6% to be paid by the buyer)

Who the agent is and they are registered

 76,320€

Le prix indiqué comprend les honoraires à la charge de l'acheteur : 6% TTC du prix du bien hors honoraires.

SARL Blogs

76,320€ (Total price)

The price shown includes the buyer's fee : 6% inc VAT in fees added to the asking price

Who the agent is and they are registered

All property advertised for sale in France has to display how much the agency fees are and who the agent is. If you see property for sale professionally and not displaying this information then leave it alone.

Don't forget you still have to pay the notaires fee on top of the final price.

You must be a company registered in France to sell a property professionally in France. Companies registered in other countries claiming to sell property in France are blurring the truth. Some estate agents employ "negotiators" who can show a property but are not qualified to sign any paperwork. They usually work for commission, so the fees are often higher. If you meet an estate agent or negotiator always ask to see a "Carte Professionnelle"; they are required to carry them by law.

Over 80% of property sold in France each year is sold privately. Here you will find just one price displayed. Sometimes it is followed by "net vendeur" (net seller or sellers asking price). Another term to look out for is "particulier" or "particulier à particulier" (personnal or private sale). A private sale cuts out the estate agent and his/her fees. With the growth of the internet it has become easier for owners to advertise for themselves and private sales have grown strongly in France.

If you agree a price direct with an owner the next step is the notaire.

Most notaires in France have someone who can speak English to help with the sales contract and sales procedure. If you find one that does not you are completely within your rights to change notaire.

Remember most properties will be listed with several different agents at different fees and maybe also privately. Use the internet. Estate agents may ask you to sign a paper before showing a house; this insures them exclusivity if are interested in the property and you can not deal with anyone else afterwards.

The DPE (Diagnostic de Performance Energétique) energy report has been a legal requirement since 2011 for houses being sold or rented. Property for sale with no heating or insulation (renovations) are exempt from the report. The DPE is very important in France. Since 2014 all newly built houses have to have A classes and there are lots of grants available to improve the ratings of existing older properties.

The energy rating is required to put a house on the market. After a sale has been agreed there are other surveys that the seller must produce (electrical, lead and termite). The notaire makes sure these are completed and will send you a copy. A structural survey is not a legal requirement.

If you find your new dream home you will need to sign a "compramis de vente" or a "promesse de vente" (sales agreement) either through an estate agent or a notaire.to proceed with the sale. A deposit (5-10%) will also be required. This should be paid to the notaire. At this point you usually have the right to withdraw for ten days. After the ten days have passed you are committed. Completion usually takes 2-3 months.

This delay gives you a good opportunity to wait for the best deal on the currency market. Transfer companies offer more options than the banks. Which option is best for you depends on the circumstances: currency and the markets. The goal is to get you the best deal possible and save money!

FundsAbroad recommendations for purchasing property overseas:

The CurrencyFair Wallet is perfect to be in a position to transfer a deposit quickly. Otherwise CurrencyFair offers rate alerts and a limit order contract to wait for the best moment to make a money transfer. Support with CurrencyFair is all on-line.

OFX offers forward contracts and limit orders to maximise your transfer. You will have an account manager to advise and 24/7 telephone or email support.

TorFX offers forward contracts, limit orders and a stop loss order to maximise your transfer. You will have an account manager to advise with telephone or email support (limited to working hours).

NB: High street banks in France are CLOSED EVERY MONDAY, open saturday mornings.

FundsAbroad.com wishes to thank Paulyne Small for writing this article Paulyne has lived and worked in France for over thirty years. For most of this time she has worked as a translator for notaires.

We hope this is helpful. Please feel free to comment or email us.

Transfering money overseas to purchase property

Using a good money transfer company for an overseas property transaction is essential.

Whether you are buying, selling or investing the right transfer will save you a lot of money, time and hassle. Don't leave it to the last moment. We recommend you register with a transfer company early and start a dialogue with your account manager who will advise on the options available, depending on the state of the currency markets.

If you are buying and find your dream house the chances are you will need to transfer money quickly to secure the deposit. Maximum 2 days with a transfer company whereas a high street bank will take longer and cost you a lot more (remember until this deposit is paid you risk loosing the property).

Otherwise you will proabaly have more time to transfer your money and this is where the transfer professionals excel:

• Very competitive exchange rates

  • Options to wait for the rate to move in your favour

• Low or no fees

• Fixed rate transfers

• Fast transfers

Transfer companies offer more options than the banks. Which option is best for you depends on the circumstances: currency and the markets. The goal is to get you the best deal possible and save money!

FundsAbroad recommendations for purchasing property overseas:

The CurrencyFair Wallet is perfect to be in a position to transfer a deposit quickly. Otherwise CurrencyFair offers rate alerts and a limit order contract to wait for the best moment to make a money transfer. Support with CurrencyFair is all on-line.

OFX offers forward contracts and limit orders to maximise your transfer. You will have an account manager to advise and 24/7 telephone or email support.

TorFX offers forward contracts, limit orders and a stop loss order to maximise your transfer. You will have an account manager to advise with telephone or email support (limited to working hours).

We present clearly and precisely the pros and cons of the TOP international money transfer companies; helping you find the best deal available.

There are lots of money transfer companies and it is difcult to know who to trust your money with. At FundsAbroad we have studied lots of these transfer companies.and present on this site our top five. Below are the criterias we looked for in each company :

Trust

The company credentials

FundsAbroad.com only recommends companies that are established, with a solid track record and regulated. You can rest assured that your money is in safe hands during the transfer.

Efficiency

How long does it take?

All the money transfer companies featured in the FundsAbroad.com website provide the quickest international transfers available. They are all much quicker than any high street banks.

Value

How much does it cost?

The money transfer companies FundsAbroad.com recommends are the most competitive in the market. They are all much more effiecient and cheaper than banks, saving you time and money.

Currencies Available

What countries does the company serve?

Find out quickly which countries or currencies are covered by the financial transfer companies featured on FundsAbroad.com.

Signing Up

How to proceed and how do you get your funds to the transfer company

So you've found your perfect transfer company. What's needed to set up an account? How can you get your money to the transfer company and how is the money paid out?