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Questions about selling

Julian

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This article has good advice on how to avoid a scam in the transaction:


They agree with people above....go to the buyers bank and verify the cashiers check, or have the bank give you cash.
 

Russell

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Bank all the way bro or get scammed! No doubt about it....
 

mark_m

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He's going to multiple ATMs. We spoke and he agreed that once I see the funds in my account he'll bring the cash he's collected from ATMs to retrieve the boat and title. Is there still a way I could get scammed or is this pretty safe? As stated earlier, I have a copy of his driver's license and $1,000 in cash.
His bank should have a daily withdrawal limit for his account (it protects him) regardless if he goes to any number of different ATMs.
 

HangOutdoors

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It is trivial for someone to transfer funds to your bank from their bank or even credit card. EFTs happen all the time. I haven't written a check to anyone in years. A routing and account number and he could electronically transfer for a few bucks. That way you don't have to any verifications, etc. Can happen same day for a bit more charge or typically 1-3 days. That way he can decide how fast to move the funds and you give him the title once it is in your bank account. Plus it leaves a nice electronic trail to follow if there was an issue.

I have received counterfeit cash before many years ago when someone bought a tractor from me. Only part of it was bad. I would rather the bank deal with it so I don't have deal with cash, checks, cashier's checks, money orders, etc. etc. Wire or EFT (Electronic Funds Transfer) is the only way to go to be safe. Guy sounds like he is jumping through way to many hoops.

FYI, if he buys your boat with dirty money, like drug money or stolen money, if there is in issue, the authorities can come get the cash from you, then you have no boat and out cash. Friend is an officer and happens more than you think with bigger money/cash purchases, he has warned me about selling larger ticket items. Just have bank do everything that way there is a full trail.

Hope you and your family have a safe move.
 
Last edited:

jawsf16

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@AJack I sold my boat last year and had the same dilemma. Sold it to a nice guy in OKC area. I am in Dallas area. We met at lake halfway, Texoma, nowhere near either of our banks. He test drove and liked it. We went separate ways and he had his bank wire money to my bank. I had my bank surrender title to his bank. Once everything was done, we met up again halfway and he hitched up the boat and drove away. He was very understanding and it was a painless deal, but did add an extra week or so since he was financing through his bank. I would be hesitant not to involve my bank and wired funds. I have read about counterfeit certified/cashiers/bank checks/cash. Also a transaction with big cash is less than ideal unless we are at my bank. Ironically this same boat, when I purchased it originally, traded title/ownership at the previous buyers bank. It is really the safest way IMHO. Good luck and stay safe in the Sand Box. It only sucks the first two or three times you are there...
 

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So, I received the transfer into my bank account number and met him... he had the rest in cash. I already deposited the cash into one of my accounts. The buyer had a limit of $36k through his corporate bank account, and an increase didn't occur till late in the day, which would cause another 24 hours for it to hit my account. Maybe I got lucky...

This would be my fifth trip to the sand box, not including a few quick stints.

@AJack I sold my boat last year and had the same dilemma. Sold it to a nice guy in OKC area. I am in Dallas area. We met at lake halfway, Texoma, nowhere near either of our banks. He test drove and liked it. We went separate ways and he had his bank wire money to my bank. I had my bank surrender title to his bank. Once everything was done, we met up again halfway and he hitched up the boat and drove away. He was very understanding and it was a painless deal, but did add an extra week or so since he was financing through his bank. I would be hesitant not to involve my bank and wired funds. I have read about counterfeit certified/cashiers/bank checks/cash. Also a transaction with big cash is less than ideal unless we are at my bank. Ironically this same boat, when I purchased it originally, traded title/ownership at the previous buyers bank. It is really the safest way IMHO. Good luck and stay safe in the Sand Box. It only sucks the first two or three times you are there...
 

Scottintexas

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This would be my fifth trip to the sand box, not including a few quick stints.
Uggh!! Stay safe and don't be stranger, if you or the family ever need a boat ride in DFW let me know,
 

HangOutdoors

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@AJack I am glad that it worked out for you. Hope to see you back safely soon.
 

jawsf16

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So, I received the transfer into my bank account number and met him... he had the rest in cash. I already deposited the cash into one of my accounts. The buyer had a limit of $36k through his corporate bank account, and an increase didn't occur till late in the day, which would cause another 24 hours for it to hit my account. Maybe I got lucky...

This would be my fifth trip to the sand box, not including a few quick stints.
Glad it all worked out! Sounds like you are a pro at deploying. Be nice to the rookies over there, but not too nice. Stay safe!!
 
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