Money transaction when selling a RV question
When selling a trailer what is the best way to make the money transaction? I am thinking of cash only at a bank. What is the safest way? I just bought a new one and I will be selling my old one ...
Forum Discussion
It partly depends on the amount of the transaction. A few thousand dollars is much more reasonable to handle with cash than several tens of thousands of dollars.
Meeting at the seller's bank and receiving there a bank (cashier's) check from the bank clerk there is pretty much safe. That doesn't work quite so effectively if your buyer's bank doesn't have a branch conveniently close to you.
Some here suggest, if these fail, only giving a bill of sale and sending the title only when funds clear. That's reasonable protection for you, but I would never agree to do that as a buyer; instead of you having to trust the buyer as being honest, the buyer now has to trust you as being honest.
Selling via consignment can avoid some of these hassles, but potentially replace them with other different hassles.
Meeting at the seller's bank and receiving there a bank (cashier's) check from the bank clerk there is pretty much safe. That doesn't work quite so effectively if your buyer's bank doesn't have a branch conveniently close to you.
Some here suggest, if these fail, only giving a bill of sale and sending the title only when funds clear. That's reasonable protection for you, but I would never agree to do that as a buyer; instead of you having to trust the buyer as being honest, the buyer now has to trust you as being honest.
Selling via consignment can avoid some of these hassles, but potentially replace them with other different hassles.
