I think people nowadays won't be much prefer to give cash in that sense..moreover this transaction involved a lot of such cash., for sure.
I strongly suggest who-ever wanna venture this deals, better go to local banks and apply for a ad-hoc LC 1:1 (Letter Of Credit) in that sense. Buyer transactions and rights will be more secure in such way.
The only set-back of the LC is the 0.1% per months charged by the bank..in which that more berbaloi to compensate any future damages.
Just my opinion.