dereknkathy

I like to go to buyer's bank. buyer writes a check to seller. seller cashes check in front of buyer. then no chance of 100 bills with Alfred e neuman on em...buyer has a cancelled check with hin number on it. AND the buyer isn't pulling into some little boatyard where he has never been before with a whole piss pot fulla dinero...

Stuckonstupid

I recently sold my center console for 5 digits and the first # was a 7, seller wanted to pay cash and I refused and wanted a bank check from a national bank, I paid the fee, he got the check easy peasy. I cannot imagine anyone wanting to (1) count that much money, (2) deal with depositing that kind of money, (3) having a bank verify that kind of money in cash. Just my .02.

COOPS

iTrader: (2)

Wire transfer is the only safe way. In country or out. I have sold high dollar cars and boats even to Canadian buyers and wire transfer is the best. Once it is in your bank it's yours.

You are not even giving the buyer your bank info. Your bank will set up a one time use account to supply the buyer with. Once the money has cleared that account they transfer it into yours.

easy and extremely safe.

I WOULD NOT ACCEPT CASH. You are asking for issues of counterfeiting or getting held up after they leave with your property.

VoodooRob

100% do a wire transfer. It takes 10-15 minutes and your good to go and hand over title. It is the safest way to buy a boat, car, motorcycle, etc. Bank checks can be held up many days for funds to transfer (banks dont even trust each other), forged, stolen. A lot of people don't like wire transfers because you MUST report the true sale price on the title for buyers taxes. Too bad, its 2017 and I'm not paying a fine and going on the states naughty list for under reporting a sale so you can save a few bucks. I have dealt with a buyers genuine 100% real and STOLEN bank check and the FBI. Never again.

Apexwarrior

Ive been told the risk with a wire transfer is a claw back.They wire the money and then can pull it back within a certain period. I'm told the solution is a temporary account that receives the transfer and then immediately transfers it in to your account so the sender does not see the correct account number.

Is this correct?

93 shooter

recently purchased boat from canada,used Wire transfer

cigrocket

iTrader: (3)

Last 5 boats, cash deposit, and the rest is a wire transfer. Safe for both parties. Easy to set up.

I used to do Cash, but that was when I was buying a boat that was under 40K

kreed

iTrader: (2)

Someone handing me that box of cash, hooking up to my boat and taking it..... would make me nervous.,,,, Its so hard to trust these days.

BUT..I remember driving to Tennessee from Connectucit 8 years ago with 40K in a duffle bag and thinking nothing of it! Man that could have gone south so easily...

F-2 Speedy

iTrader: (6)

It was all verified & counted by the bank, no worries, I've done it all different ways with boats, HD's and muscle cars, this thread is like asking someone how they winterize their boat, many ways to get the job done. The one big cash purchase was with a good friend in Buffalo so no worries, the other guy from Indy buying my TG was also a cash deal, but I agree wire trans is the cleanest.

VoodooRob

I do a lot of wires national/international for our business, it is possible but rare. The time frame is not instant for a recall because it needs to be approved on different banking levels. I had to do it once due to incorrect recipient business name on the wire I sent and a foreign bank was holding our cash for 2 weeks, so it was in limbo. Once it deposits into an account, the channels I use, it would be extremely difficult unless it's an inside job, even then there are bank triple checks internally for such scenarios. I suggest a holding account if this is a concern for you, once payment hits, transfer to your main account then you are safe as possible.