Buyer’s Funds: Made in the USA Please

wirexferHave you talked to your buyer about where their funds are coming from? As a listing agent, have you asked the selling agent that same question?

Wire or check, if you want to close on time, make sure USA funds will be available in a timely manner.

If money must come from overseas, make sure it is a wire and let us know early as possible so we can confirm how long it will take for the money to be available. The best solution if a buyer’s funds are overseas is to have them transfer it as USA funds to a bank located in the USA in time for it to be available for subsequent wiring to our bank.

We can take international wires, but we need to know the details ahead of time to make sure it will come in a usable way; otherwise we are looking at significant delays.

Checks, even more so. Now and then someone plans to use a check drawn on a foreign account. Very rarely are these clearable in a timely manner. Many banks send such checks to a clearing house that may take months to process.

With buyers who are foreign nationals – have this conversation early.

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