Overseas Transactions, Wiring Money and Real Estate Closings

Posted by Jeff Aughey on Monday, April 15th, 2013 at 2:43pm.

Wire transfers from overseas require more time for real estate closings

If you are depending on a wire from overseas to fund your closing, it's important to remember that this is not necessarily an immediate transaction as it is when money is wired from within the USA.

Plan to wire the funds at least seven working days prior to the closing.  Closing attorneys in Georgia often require funds for closing in excess of $5000 be wired to the attorney's account. Some may observe this practice for less money -- so be sure to check in advance. A personal check is not going to be accepted for the substantial amounts usually due at closing. It is a good idea to bring your checkbook to closing in case there are small alterations that pass at the closing table. Checks are accepted for small amounts and may prevent a delay in your closing. Always be prepared.

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