golf_bears wrote:
schlep1967 has it right. Wire transfers are not reversible unless you agree. Wire transfer from their bank to your bank into a dummy account setup by your bank. They transfer to your dummy account at your bank. Your bank transfers to your real account. This way the buyer has no clue to your real account number. Once your bank tells you your money is safe, sign the title and hand it over to the buyer.
No "fuss no muss" for either of you.
This is patently false. Wire transfers can be pulled back. Even if the receiver wire transfers it to another bank it can still be pulled.
The only way to subvert it is to take the money out in cash and deposit it in another bank unknown to the first.
I have been down this road with the sale of my hotel where more than 100K$ deposit was pulled back because the buyer was unhappy that my bank would not give him a POS system. It did not need my permission and came as a surprise to me. I had a long and hard discussion with the bank manager. The next time that transfer was made I was at the bank, withdrew the money and took it down the street and opened a new account with it. That is the ONLY way you can avoid a pullback.
Please be careful what you are telling people. There are NO "Dummy" accounts involved in this procedure. It is traceable and transparent. This is a world wide system that transfers hundreds of millions/billions of dollars everyday.
And in many cases there are fees on BOTH sides of the transfer.
