Posted 2011-03-10 6:31 PM (#131491) Subject: Payment through private sale
Veteran
Posts: 195 Location: PA
Hi - I'm about to list my 1995 Bison 2H BP for sale. I haven't sold a trailer in a private transaction in a very long time. What's the best and most safest way to be paid? Should I ask for cash, money order, or cashier's check? I'm a little scared to take a money order or cashier's check; I hear rumors about really good forgeries. Is Paypal an acceptable form of payment?
Posted 2011-03-10 8:57 PM (#131495 - in reply to #131491) Subject: RE: Payment through private sale
Elite Veteran
Posts: 690 Location: missouri
Take real cash, or go to your bank with the counter check and verify it with the buyer there. Do NOT take a personal check or other form of payment. Sometimes even "certified funds" are fakes... Never trust anybody, even a Nun or a Police officer when it comes to financial transactions. Good luck.
Posted 2011-03-10 9:30 PM (#131499 - in reply to #131491) Subject: RE: Payment through private sale
Expert
Posts: 2453 Location: Northern Utah
Have them wire the money right into your account. When you verify that the wire has arrived, hand them the title.
If they have concerns about this. Ask your local title/escrow officer to handle the tansaction. You give him the title and the buyer wires him the money, When verifies both, he gives you the cash in what ever method you prefer and forwards the title.
Posted 2011-03-11 8:12 AM (#131511 - in reply to #131491) Subject: RE: Payment through private sale
Extreme Veteran
Posts: 342 Location: Ohio
Cash! Either they've got it or they don't. If they have to take a loan, most credit unions or banks will hand you the loan amount in cash pending you bring the title back to them.
Paypal is okay, but you will be responsible for the 3% fee they charge. If this is the buyer's preferred choice, add 3% to the purchase price.
Posted 2011-03-11 8:25 AM (#131512 - in reply to #131491) Subject: RE: Payment through private sale
Regular
Posts: 69
I do our transactions at the bank. This is very simple all parties involved meet at your bank and the teller is the middle person in the deal. Once the money has been counted and verified by them(the bank)you sign and hand over the title and bill of sale to the buyer. It gives you a greater peace of mind. BOL
Payment through private sale
