Tips for international wire?

[saucerfam]

do you have a escribano?
you should.
we have done similar transactions, the way it works is your escribano sets up closing at her bank. They have rooms for this. You have your US bank wire the money to her bank, and, during the closing, they bring in the money once the escribano is satisfied all the papers are in order, and the money gets divided up.
Usually its transfered in dollars, rolled into the room in dollars and run thru a counting machine, divided into piles for her, realtors if there are any, past due taxes, fees for transfer, and any other outstanding debts that prevent a clean closing. Especially with older sellers, there are almost always unpaid bills, and they get paid at closing. Sometimes it all takes place in pesos. The rules change all the time, but the money still gets divvied up, in cash.
Then, the final pile gets shoved over to her side of the table.
At that point, you dont have to worry about it anymore. You are done, you own the place.

Sometimes, they pick up the cash and walk out.
When we bought from a couple in their 80s, they had the dollars run the machine, traded for a pile of pesos, those got run thru the machine, then deposited in their account.
Sales happen every day. Escribanos and banks have established systems to make sure the money goes to who it belongs to.
Usually the wire transfer must happen within a certain number of hours of closing, although, who knows what Milei has managed to break...

Solid overview.

 

[Ceviche]

The correct way now is to open yr USD account at Satandar or Galicia. Wire yr money to you from usd to usd . Things are very simple now unlike before.

On day of escritura, you wire from yrself to him in seconds.

 

[LuckyLuke]

Thanks Toast & Antipodean.

Update: I met with the seller & agent today and the seller was informed by her bank (BBVA) that they would charge a 2% commission on incoming foreign wires. In addition her status as a pensioner would present some problems justifying the receipt of funds since they would be coming from another person.

I met with BNA this morning and they explained that the fee for an incoming foreign wire (to oneself) is 0.15% and a $250 base transfer fee. They recommended declaring the money under my wife's name (Argentine citizen) as repatriation of funds, which would be a more simple process than a foreigner bringing in funds. We will need to open a USD account and the expected delay to release the funds will be 3-5 days.

There is little to no fee for bank to bank transfer within the country.

 

[Ceviche]

Thanks Toast & Antipodean.

Update: I met with the seller & agent today and the seller was informed by her bank (BBVA) that they would charge a 2% commission on incoming foreign wires. In addition her status as a pensioner would present some problems justifying the receipt of funds since they would be coming from another person.

I met with BNA this morning and they explained that the fee for an incoming foreign wire (to oneself) is 0.15% and a $250 base transfer fee. They recommended declaring the money under my wife's name (Argentine citizen) as repatriation of funds, which would be a more simple process than a foreigner bringing in funds. We will need to open a USD account and the expected delay to release the funds will be 3-5 days.

There is little to no fee for bank to bank transfer within the country.

its actually a 96 hr process , day 1 - open usd account here ; day 2 - wire usd from abroad to yr usd accunt here ; day 3 = money arrives here and you apply for release of funds ; day 4 - funds are released. For 100,000 USD wired expect to loase about 150 usd in various fees. Thanks to new govt, its av simple process.