overseas trading
 

anyone have experience in overseas boat sales? I have a potential buyer for my Scarab from overseas and I just want the true scoop on how to properly handle this transaction...

I sold my last boat to a guy in the Virgin Islands. I was very skeptical. I set up a separate account just for that transaction. He sent the funds, funds cleared, I transferred funds to my account and everything went good. Just make sure the funds are cleared into YOUR account before letting boat go. Definitely open up a different savings or checking account for the transaction and then close it after everything clears and is in your personal account.

that's all fine and well, but if the funds get reversed guess who the bank is coming after?? you!!! so safe is only as safe is your luck

its called wire fraud and its increasing alarmingly

If the funds cleared and that particular account which say you set up for that only transaction is closed and in ur other personal account I don't believe there's any way for the funds to get reversed on ur end? They would have to go after the person doing the fraud but it they cleared by your bank then the funds are there. I'm not talking about pending I'm talking about cleared where you have access to the money and its transferred completely.

WIRE TRANSFER.as said earlier to your new savings account that you just started with a 25 dollar deposit.

ask for irrevocable TT then it cant go back and funds are clear when they arrive.

Just to be crystalclear..... DO NOT take a wire transfer for significantly more to pay the shipping company etc......... Does the deal make sense? is the boat worth the price and shipping where its going??

Thanks for the input guys... I didn't do the deal... just didn't feel right!!! not saying it was a scam cause I can't prove that but I am saying I wont be out the boat and $20k lol

Always the best move when your gut is telling you something.