Nohero,
STOP!
Are you following VRBO's recommendations? Have you spoken with the villa manager/owner by telephone? If not, stop right now and make the phone call. VRBO has had issues where a villa-owner's email has been hacked, and rental payments have been made to thieves instead of the owner. A telephone call - but only to the number listed on the VRBO site - will give you better assurance that you're really renting from the owner.
GO!
OK, assuming that you've followed proper VRBO security protocols, yes, Bank Transfers are a normal form of payment. Checks written in US dollars are deposited on SBH, and can take many weeks, even a few months, to get credited to an owner's account. A dishonest renter can book, pay, arrive, and depart before a phony check is detected. A Bank Transfer is faster, and better protects the owner from fraud. Your US bank will price-gouge you on the transfer fee. Consider it a cost of doing business and move on.
If it helps, some of the villa owners are well known to people on this site. If you would like, name the villa and the owner and perhaps some of us can comment on the villa or the owner. Feel free to drop me a private message if you would prefer to keep your proposed villa/owner information private.