Money from sale of US home -- suggestions on what to do with it?

Anyone who sold their US home before moving to the UK, and had some $$ to walk away with after paying back the mortgage -- did you leave the money in a US account? Invest it in something? Transfer it to the UK? (If the latter, what are some efficient ways of doing this without losing too much in the transfer...)

Thanks!

I see no one responded to you but I'm curious as to what you and your wife decided to do with the $$ from the sale of your home.  I'm almost at this stage and have no clue what to do.  Keep it banked in U.S. and transfer over or have the settlement company do a cashier's check and bank it in the UK.

Thanks ~

hiya,

I'm slightly biased due to my own plans...  but...

As properties are historically very cheap at the moment in the US, I'd personally drop the cash into potentially picking up one or more properties over there and renting them out. There's a 'good' chance once the world economy picks up, the values will rise again and potentially makes for an opportunity to make some money if sold later. I understand that not everyone is thinking this way, and may find many other uses if needed. However, as an investment potential, along with perhaps a high interest savings account/ISA/ tax free savings account it's a very good option.

Cheers, DtM! West London & Slough UK!

Re. Dennis' suggestion of investing in real estate in the US, folks should keep in mind that sales of such wouldn't be tax-free, as is the first $250K you got from selling your primary residence for 2 years.