I would have him do a wire transfer on the spot and you can verify funds in your account and then finish the deal. The transfer needs to be set up before you meet with the individual banks but it protects both parties. Your bank can set up a special account just to do the transaction, your existing accounts would not be exposed. Usually $40-$50 fee per transaction. I received a bank check for a used motorcycle, legit watermark and all. 2 Days after deposit found out blank checks were stolen from a bank and being sold on the internet to thieves who filled in dollar amounts and proceeded to pass them off. Not everyone is a thief, but think how you can do the deal without getting ripped off.

When I sold my 29 a few months back the guy called me on it from Illinois and said he was really interested in it. Called me back the next day trying to drive down to Houston to look at it. I took a job in Dallas and told him I couldn't meet him until that weekend. Next night my phone is going off around 4 AM...he had loaded up and drove all night and was at my boat stall in Houston, I was in Dallas. He said he had to have it...had a cashiers check in hand for the full amount. I was in total disbelief and shock. Skeptical as hell... He gave me the name of his banker and a picture of the cashiers check. I called it in and had my bank call his bank. Bought it sight unseen...had a buddy meet him at my stall to take the check. He drove back through Dallas to pick up the keys...boats on LOTO now.

Just get a cashiers check and have it called in and double checked by the banks. There are still some honest people left in the world...scary I know!

Good luck!

What about a wire transfer?

This is how I am doing it too assure the funds get to my seller, there is no wait, and is no B.S. all the guy has to do is prenotify his bank and meet up on a weekday/time he can call and funds can be moved.

Boat does not leave possession until you have:

1) Cash in your hand.
or
2) Loan satisfied per bank, loan closed, and lien released.

There are no two ways about it.

Have him go to YOUR bank (find a branch of YOUR bank near him); and have the Certified Check written on YOUR bank's paper. If he brings in cash or a Certified Check from his bank, this should be an easy transaction that might cost him $50-100 to complete; well worth your piece of mind even if you deduct it from the sale price.

As long as you are willing to sell it; 13% lower is not a terrible offer considering we only have another couple months of boating and you are going to be making payments on it while it's winterized until April of next year. Counter offer him with Sale Price - 13%; and then add two months of boat payments back on to it; if you feel froggy.

Example:
$20,000 asking
$17,400 offer (87%)
Assuming $600 month payment...
Counter with $18,600 and you will make the deal happen and make at least a couple hours of the drive.

A lot of times the buyer can contact your bank and pay them the money, once its paid the bank will notify you that its good to go, they mail him and you a copy of the lien release, and if the guy got a loan himself the check will be sent from bank to bank and you get the difference from your bank. As his bank is going to want ensure your lien is paid off. I had this once on a RV, my bank sent the check to his i was mailed the release and he was mailed the difference.

You can also call a bank where the check was written and verifiy funds.


But either way something like you this you need something on paper. If im a buyer once I hand over the check Im not leaving without the title and or boat, and if im the seller Im keeping something while the check clears. So a mutual agreement must be made. I have been on both ends and when im buyer I need something to protect myself as well. I have had deals that were broken when buying because the seller went way over board and have asked for my first born. I am willing to meet at banks, call my bank etc, do what it takes. But in my mind Im not handing over thousands of dollars and leaving the premis empty handed, the property or the titles is coming with me at minumum. Last guy I tried buying a boat from, got down to the deal and I went over with a USAA check, confirmed with USAA that the seller could call them, and we could go to his bank together and deposit his check and his bank could call on the spot to verify funds. With todays check scanning its almost like a credit card anyways a bank can almost instantly know if the check is bad or good. But last minuet this guy wasnt having, wanted the check didnt want to hand over anything, and told me I had to wait 2 weeks until everything cleared. needless to say i went home and returned the check to USAA.

There a lot of thiefs out there but honest people still out number those. In todays world not very people just have 20k or more laying around in cash and its very hard to get that kind of cash from a bank if you have it, so checks must be written.

Thanks for all the help and ideas. After going back and forth with the buyer with some of the ideas mentioned it ended up he found another boat through a dealer near his home at the same time I decided I couldn't be boat-less.

Is his name Paul?

Nope....

I'm only an hour from charleston if you would like a witness. Don't know if that would do much good but if you would like I can meet up with you guys and sign as a witness on bill of sale

That's an awesome offer and I appreciate it but I pulled out of the deal. Too much to do in a short period of time to ensure a safe transaction and couldn't get passed the idea selling and not being able to replace it.