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Selling a boat

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Old 09-29-2011, 07:01 AM
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Default 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...
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Old 09-29-2011, 07:07 AM
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Have buyer meet you at your bank with check. Don't hive boat till you get verification of funds.
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Old 09-29-2011, 07:18 AM
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Bank wire.
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Old 09-29-2011, 07:21 AM
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Bank wire.
+1
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Old 09-29-2011, 08:44 AM
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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.
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Old 09-29-2011, 08:54 AM
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Cash briefcase is okay as long as its all small bills!!!
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Old 09-29-2011, 08:55 AM
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CASH would work
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Old 09-29-2011, 11:21 AM
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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
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Old 09-29-2011, 01:46 PM
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Originally Posted by TexomaPowerboater View Post
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
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Old 09-29-2011, 01:52 PM
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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.
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