Selling a boat
 

What is the safest method of payment to accept when selling a boat. There are so many scams and bogus bank checks I don't want to get screwed. Thanks for any info...

Have buyer meet you at your bank with check. Don't hive boat till you get verification of funds.

Bank wire.

+1

Bank wire. Or get a copy of their cashiers check in advance and verify it with their bank. Get the tellers information and verify also that the branch address and phone # is correct from another source.

Cash :drink: briefcase is okay as long as its all small bills!!! :evilb:

CASH would work

Be careful with cash, couple of guys, included one on this forum, did hard time for failure to report cash payments in excess of $10K. You need their social security number and you have to file a form. Banks do this most of the time when you go to deposit funds, but you will need the payor's social security number

Thanks to our current commander in chief that number for withdrawn or deposited cash is now any transaction over 4999.

When selling toys now I only accept an ABA wire transfer for any sale of 5000 or over. I also volunteer to reduce my sale price by the amount it cost the buyer up to $25.
This is very few as most of what I buy and sell come in below this threshold, and those who are unwilling get the "I'm sorry sir but these are my terms as a seller and they're non-negotiatable, you can pass on the purchase if you choose to"
I had a bud who sold a work truck last year for 13 cash, he was robbed at gunpoint getting out of his car in his driveway after he had left the shop and went home.
This was not a coincidence for sure, a car pulled in behind him while parking, a guy walked to the driver side of his ride while another walked to the passenger side.

See ya,
Kelly

Cashiers check and if your worried it is not legit call the bank during hours and verify it's real. With a cashiers check you dont have to worry about the funds being there because the issuing bank holds the funds as soon as that check is cut.
There are people that get screwed but some of you make it out more than what it is. You dont need them to show up with a black brief case with a finger print verifcation and 4 digit code to open it. If I sell something usually under 5 grand I demand cash. I always take note of the person save their phone number and a license plate number off of their vehicle.

wire transfer,and cash.i just sold a boat and a bike,total of almost 50 thousand,got paid in cash,i dont think i will do time for accepting american currency,after all,that is how i paid when i baught these toys.:party-smiley-004:

sad story,whenever i get paid more than 1000.in cash,i have some buddys with me,SMITH&WESSON.you are never to safe now a days :party-smiley-004:

wire transfer funds directly into your account...its pretty simple, you give them your routing number basically and they can have their bank already lined up ready to send when they get the phone call. just sold my boat recently and while they were ready to gladly stroke a check and leave with the boat - they understood where i was coming from as the seller...boat doesnt leave till i have confirmed funds in my account.

heard too many of those cash deals ending up with Smith and Wesson hanging out with the bad guys too....hard to draw your own weapon with a gun in your face...but then again if they dont shoot ya and try leaving with the cash - well then its open season!

I wasn't trying to imply that you'll do hard time for a cash deposit, just that big brother is watching our every step on both cash withdrawals and deposits.

This is exactly how it happened, it was totally a setup.
They were in cahoots with the gunmen and most likely split the coin between themselves. Sad part was the Sheriff's deputy's didn't even give him the time of day while writing the report. He got a good description of the vehicle and a partial plate and they acted like they weren't even interested in the info. He didn't execute a bill of sale and simply signed over his rights on the back of his title, this something I now do that I didn't used to do.
My buddy Dan is still a struggling subcontractor today, he was in a heap of hurt when he sold his truck. He needed cash and sold the newest rig that he just paid off in his fleet of 3.
These dirtbags, IMO, profiled him through his CL ad where he listed 15k obo and "must sell asap"

See ya,
Kelly