Am I thinking the right way here?

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cuzzinolaf

Well-known member
scottiking said:
1st come 1st serve! Sell it to ever gives you the cash first! unless its friends or family, SELL IT to anyone with the dough!
I never trust anyone that wont give a down payment!
My 2 Cents bro!
Scottishack OUT
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I was trying to be the nice guy and had no issues not getting a deposit because I didn't have other buyers lined up. I got 4 emails in one weekend and then started to think about it. Live and learn I guess and if the "new" guy who looked at it last night gives me a deposit it is his. I should know more tomorrow.

So what is the safest way to transfer a large sum of money from buyer to seller? I really don't want to walk around with that much cash. So far the only way I feel good about it is going to his bank and getting the cashiers check issued to me right there. Thoughts?
 
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ezra

Well-known member
Dont buy a 04 my z71 was junk at 130k will never by a GM again.
The older ones were great but not the new built like cars not trucks.
You buy a GM to drive to church and a ford to work and a dodge to support your local tranny shop
 
indy_500

indy_500

Well-known member
this 99 classic (old body style 5.7) really sounds better and better. I hope the guy answers right away and I can go look at it tomorrow with cash in my hand... its over a 2 hr. drive...
 
chords

chords

Active member
cuzzinolaf said:
So what is the safest way to transfer a large sum of money from buyer to seller? I really don't want to walk around with that much cash. Thoughts?
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Why not ? How much walking are you gonna be doing ? As a seller I would require cash
 
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cuzzinolaf

Well-known member
I know, but there are also cashiers check scams. At this point I told him I want cash and we'll meet at his bank.
 
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Hoosier

Well-known member
indy_500 said:
this 99 classic (old body style 5.7) really sounds better and better. I hope the guy answers right away and I can go look at it tomorrow with cash in my hand... its over a 2 hr. drive...
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Only you know what you want and what you want to spend and what is a good deal for you, but if that other truck is likely to be available Saturday, why not wait for it (your other post made it sound like exactly what you wanted)?
 
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whitedust

Well-known member
cuzzinolaf said:
I know, but there are also cashiers check scams. At this point I told him I want cash and we'll meet at his bank.
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I took a check for $4K for a sled & everything turned out ok. $16K probably not but maybe. So far never got burned on anything I sold & took a lot of checks.
 
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doo_dr

New member
1st question to be answered

Indy. I think the first question that should be answered is "How can you sleep at night knowing you made 100% margin off a sale"? You are getting punished because you didn't give 20% to the church and 40% to the govt!!!!

You know I just messing with you. In my opinion "Cash Talks--- BS Walks". Don't wait for anything but a yes or no answer to your offer. I carry cash, and a 40S&W, for any sale. Good luck on your purchases.
 
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whitedust

Well-known member
cuzzinolaf said:
EXCELLENT LINK! Thank you for sharing. If he doesn't agree to my terms this will be emailed to him.
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The Payment After Hours option worked for me but a bit different he had the sled & I had the ownership paperwork until check cleared. Win win for both of us & it was Xmas & had to be flexiable. For me I trust strangers if they come off as respectable people & he paid big bucks to have that sled right now which was a low mile cream puff showroom condition. He paid 2x the blue book value to have it right now. I took a bit of a risk but it was worth it to both of us. He knew & I knew there was nothing but used junk sleds at dealers so my 2up sled was in high demand at that time.:)
 
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cuzzinolaf

Well-known member
Hmmmmm, so I take the cashiers check, let him take the boat, but don't give him the title until I have the cash in my hand on Friday/Saturday.
 
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snowsdog1

New member
cuzzinolaf said:
I'm in the process of selling my boat and have the same situation. Guy saw the boat, liked it but wants to test drive it before he buys it which is totally acceptable. He didn't give me anything down and I got a bunch of emails this weekend about the boat. I called him and asked him for a small deposit and he wouldn't do it because he has been waiting on me to get the title and to be available. He is finally starting to frustrate me by not agreeing to some simple terms/requests. I might go back on my word since his latest comment says he'll buy the boat "if he likes it" after test driving it. He could always give me a refundable deposit pending a test drive and any issues coming up. I learned my lesson on this deal trying to be the nice guy since he has been patient with me.
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I just went through the same thing with my boat, people liked it but wanted to take it out in a couple days with a "friend whom knows boats" and test drive it. I said Ok a test drive is fine. I received two additonal calls that evening and set up times for them to look at it. I then called the first guy back and told him someone was coming to look at it the next afternoon "Friday" as a heads up. He said yeah ok, we will get back with you on Saturday for the test drive, I said OK.
Guy friday checks it out, puts on water muffs and runs the engine and buys it. Guy calls back Sat and blows a gasket cause it was sold. I gave him fair warning, but I guess he though it was a sales ploy. Cash is first and talk is last. move on a find another
 
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snowsdog1

New member
cuzzinolaf said:
Hmmmmm, so I take the cashiers check, let him take the boat, but don't give him the title until I have the cash in my hand on Friday/Saturday.
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We went to my bank and he had his do an EFT, it was simple and no waiting to see if the check is good and clears.
 
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polarisrider1

New member
cuzzinolaf said:
$16k
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That's nothing. Weekend coin for some. why would you be walking around? drive right to the safe stashed in your?. skip the bank, why bring it to them? anything over $10,000 they flag. what do paypal? novel idea. fee for that would be around $140.

Ezra, gotta love you buddy but I am GM and Poo thru and thru.

Indy, as you know the best advice in here falls within the first few posts.
 
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t_man

New member
Cashier's check almost as risky as personal check

The bank can stop payment on a cashier's check just like a personal check. My dad got burned on this before. A buyer had money in his account so the bank issued a cashier's check to my dad (seller). Turned out the buyer had a bunch of checks that hadn't cleared yet. They hit that night and buyer's account became overdrawn so the bank stopped payment on the cashier's check.

A certified check is the only one that is guaranteed. The bank guarantees that the funds are available and reserved. I'd still go to the bank if possible to have it issued to you so you know it isn't counterfeited.

That said, I've never gone to this length. Most of my used transactions have not been that much $$ and I've been comfortable with the buyers.

Just thought I'd put it out there that cashier's checks aren't failsafe.
 
indy_500

indy_500

Well-known member
polarisrider1 said:
Ezra, gotta love you buddy but I am GM and Poo thru and thru.
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LOL guy is supposed to call me back in a half hour. Hopefully it turns out good, looks like a really nice build truck! I still can't believe I don't have my sled back together. I guess that's what happens when you work 30 hours a week, every weekend, go to school, and mow lawns! AHHHH so nice not to have to worry about school anymore...
 
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