Selling an RV/payment
I will be selling my RV a few months later and need to understand how I can safely receive a payment. I want to sell to a private party. It's going to be selling for 40-45K. Receiving bank wire won'...
Forum Discussion
way2roll wrote:
Banks make this process so simple and safe I can't imagine why you wouldn't want to use the processes in place. If you have an account at a bank, not only do they have notary's on hand to complete title transfer, they can also facilitate a safe and easy funds transfer to complete the sale. They verify funds from the buyers account, complete the transfer and validate it's in your account. Zero risk. Easy and has all the safeguards in place. While it is true that transactions over $10k require a SAR (suspicious activity report) it's transparent to the customer and further mitigates risk if the bank is actually the one doing it. Some people prefer the drama of cloak and dagger scenarios, but this type of transaction happens every day at every bank and it's the safest and easiest way to handle it. Get a buyer, call your bank and make an appointment for the both of you and let them handle it. Handling cash and cashier's checks is a much riskier method and way more of a hassle - And you still need a notary for title transfer - and the bank will now file 2 SARS. Because the truth is, that method is more suspicious. Let your bank help you, it's a service they provide for free.
The fact that the OP is adamantly against wire transfers and not having the bank handle the transaction is actually more suspicious. As a buyer I wouldn't ever handle a transaction like this if the bank didn't handle it.
Agree 100%!
Done this at a bank before so easy and safe!
