Money matters

It is a boring topic but to buy property anywhere you have to deal with money. After arriving back home right away we figured out how to wire money.

We had 20 days contractually to pay the 10% deposit. A few months ago, just before we retired, we opened a new checking account with USAA. We know that since they cater to the military and families they have members all over the world. My local bank always seems unfamiliar with these procedures not to mention the exchange rate is ridiculous. USAA gives the official exchange rate with no mark-up. We are very happy with them.

We had the numbers our bank in Italy gave us and we called up our bank. Easy, peezy! All was simple. Then we waited to see if it would arrive OK.

Four days later it has arrived in Italy. We got an email from Jim today and he will arrange for the final signing of the compromesso. Once this is complete if we back out we forfeit our deposit. If the seller backs out they have to pay two times the deposit to us. Normally once the compromesso is signed the deal should go through without a problem.

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