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An increasing amount of foreign buyers have caught on to the terrific investment potential in purchasing San Diego foreclosures and REO's. However, often times they are not quite sure exactly how to draw the funds from their foreign bank account to pay for their San Diego foreclosures and REO's. A simple wire transfer is the answer, but unless you have moved funds in this manner previously, it could be intimidating. A wire transfer helps to move money from one account to another account, safely and quickly. The convenience of not having to personally move the funds is unbeatable and will have you buying or flipping your San Diego foreclosures and REO's quickly and pleasantly. So, if you are buying or selling any property that will involve international funds, read these tips first.

Things You'll Need: Bank account in the US and a bank account in a foreign country

Step One:

Contact the foreign bank and collect the following information:
1. Name of Bank
2. Bank Identifier Code (BIC)
3. Full address of the bank or branch address
4. IBAN # if sending to Europe

Step Two:

Collect the following information from the beneficiary of the funds(person who funds are payable to):
1. Name
2. Account number
3. Complete address

Step Three:

Determine the amount of money you wish to send. Ensure the availability of the funds in your account. Remember, usually there is a fee for each international wire transfer. Shop around credit union banks for a good rate.

Step Four:

After sending the wire, ask for a confirmation. Collect necessary information to track the wire transfer. Also ask the beneficiary bank for an email or fax confirming the receipt of funds.

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