Move Money on Purchases

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jimmyj

New member
I am trying to sell a stock 2014 ski doo 137"x16"x1.25" track that I will post shortly here on JD. If someone agrees to buy, what is the best way to move the money for the purchase?

any input on what the track is worth? I have an idea, but just looking for some verification I guess. Track is in excellent shape and only has about 200 miles on it.
 
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Cat600

Member
jimmyj said:
If someone agrees to buy, what is the best way to move the money for the purchase?
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Last time I sold I just did personal check. But it was a low amount so wasn't overly concerned. You could go that route, but I would wait till it clears before you transfer sled/title. Could also do money order or paypal so it's guaranteed funds or straight cash to make it simple.
 
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jedoyle

Active member
Cash #1 or bank certified check #2. Those are my only 2 options when selling something worth a decent value. #1 you don't need to verify other than count the cash. #2 you actually can call a number to verify funds were there.
 
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durphee

Well-known member
A friend of mine was selling a couch on craiglist and worked out a deal for a cashiers check. They sent the cashiers check and agreed to pick up couch the next day. He was suspicious of the odd details, took the cashiers check to his bank and told him his suspicion. Bank looked at it and said it looked all good but would check further. They called the cashiers check's bank and found it was a forgery. My friends bank stated that if they would have cashed it and found it out later to be a forgery that he would have been liable for the money they gave him. So, to answer your question, i have no idea!
 
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sweeperguy

Active member
PayPal is a great option. So many online retailers accept it now. If you don't already have a account its worth setting up. They also have buyer protection and credit options is your so inclined.
 
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sweeperguy

Active member
vic_junior said:
Is there a way to transfer money with paypal without getting hit with a fee by the buyer or seller?
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I think if you do it without sending an invoice. Its no charge. I sent a guy money for raffle tickets a couple times. He had saud in his email to send it as a gift so there's no charge. I never saw anything that asked if it was gift or purchase or anything like that, and he never said anything about getting charged a fee.
Makes me believe if your not paying on a invoice its freee.
I'll bet if you go to psypal it may have the answer in FAQ
 
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chop

Member
I buy/sell quite a bit and I have a buddy that buys/sells a bunch. This is what I do and also what his usual options are.

Cash is king- I usually deal only in cash for face to face deals. Buyer/Seller beware on large cash sales, they are prime targets for robbery. Shady craigslist deals were pretty common a couple years back. I havent heard about as many lately but they do happen. Most people are honest and I doubt you will attract a bad crowd with sled parts. Im just talking in a more broad terms when the value of the items goes up the risk does too.

Postal Money Order for shipped items with non tech savvy buyers. Forging these is a federal crime and it deters illegal activity with them somewhat. I dont remember what they cost. I think is only a couple bucks.

Paypal works great for anyone who has an account and knows how to use it. Its a nightmare if you have someone who doesnt know what to do. I have never been paid for something without having to pay a fee. The fee is paid by the person accepting the money so the buyer never really sees it. Paypal is pretty expensive if you do alot of sales or sell large ticket items. I might take a deposit on a car through paypal but I always require the balance in cash or check. But small items(less than $500 usually) I just take the hit on the fees.

Square.com is another option. I have one for my business but I dont really use it. Its a flat rate credit card processing service. You can get the card reader that hooks to your smartphone and swipe cards that way. Or just enter the card info on the website. My girlfriend uses their POS system for her business and loves it. The nice thing for me is they dont charge a monthly fee. They just take a cut of whatever money they process and they take their money before they deposit into your account so theres no bill at the end of the month to worry about.

You can accept personal/business/bank checks. But you must wait for them to clear before you ship product.

Good Luck
 
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pez

Member
I have started using Venmo lately. But mostly for transfers in the family. There is no fee, but unless you mark it, it is public who you are paying. Doesn't show amount though.

I have heard lots of horror stories where cashier's checks that are either fake or no good because of stop payment. So in the end, cash is king.
 
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