If you have a buyer who is overseas or not a USA national and they don’t have an account at a bank in the USA, do you know how they are going to access their proceeds for closing?
If they have an account at an USA bank, there won’t be a problem. If their money is overseas, there could be significant issues.
First, we require buyer’s funds in US Dollars to close. We can accept, in some cases, a wire from a non-USA banking institution in US Dollars, but not all. If your buyer wants to use a foreign bank, get their banking information to us and we will let you know if their bank qualifies. If their bank is OK, ensure you have our “International Wiring Instructions.” Allow more time as well. Unlike wire transfers coming from inside the USA, international wires can take from 3 to 7 working days before they are available for closing.
If buyers want to avoid a wire and use a certified check, then it needs to be from a USA banking institution.
The best plan is to have your buyers use a US bank and have their funds transferred early on so it is ready at closing day.
A common source of frustration at the closing table with lender involved deals is “waiting for funding.” To the average customer, when they think of wiring money, they assume it happens at the speed of light. It doesn’t.
My Agent Greg 