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Here's a question fer ya. I'm making another trip this coming Spring. I'm interested in buying a property, and getting my Retirement Visa. Is there any reason I coudn't write a check on one of my accounts in the U.S. in the purchase of a property?
I would assume ( I know, I know ) that it would be a legal tender. I would of course let my bank in the states know of my intention. I suppose it would be cashed via wire transfer?
Is this doable? Just seems the easiest path to me. Strange, cuzz I never use checks anymore here in the states. ( OR, howzabout using my debit card?)

Thanks for any info.
Stay Well,
Neil
PS. I think I heard checks from Ecuadorian banks are at like $3.00 each? YIKES!!!!

Spike, I doubt anyone will release title until the check clears Ecuador which will probably take 3-5 weeks. I would suggest you arrange transfer prior to scheduling closing and consider using a wire transfer.

You should consult with the seller to see if they prefer receiving the funds in the USA, potentially at a 2-3% discount to you. The Ecuador government places a 5% fee on funds transferred out of the country. Unfortunately you will have to pay this fee (and perhaps higher) when you sell the Ecuador residence and send the funds back to the USA. If you do not plan on residing in Ecuador for several years, you might be better off renting and leaving the cash in the USA.

Regarding payments checks, cash and credit cards are typical. Merchants prefer cash or checks to avoid merchant fees on credit cards frequently offering 3-7% discounts, more if you donÂ’t request a receipt.

Perfect answer fdmcg.
Ecuadorian checks are not recommended let alone US. They take time to clear and are turn down for the silliest reason like signatures dont look the same, numbers are not clear, ink smudged, etc.
Wire transfers all the way. They work very well.