I want to move up a little in size so I need to sell my current one, before getting a larger one.Certified check used to be a preferred method back in the day, but I understand those can be forged fairly easy now.Does that leave us to a straight up bank transfer?Any other save way?

If you have the title in hand, just meet the buyer at his bank. If he's taking out a loan, you'll have to go there anyway to give the bank the title. That's what I've always done.

You can also call the buyer's bank and ask if their account has the funds to cover the check. If the answer is yes, you can have the amount of the check frozen so the check is good when you arrive.

I asked for Cash when I sold mine

When I bought I got a cashier's check and the seller called the bank to verify it was good. I would not trust the number on the check as a seller, look it up yourself. If local meeting at the bank is best.

If the buyer has enough funds to get a cashier's check from his bank then he can just as easily get cash from his bank....cash is much more solid and safe for you..and...write a contract/bill of sale as part of the title exchange that says this is an, "as is" sale with no implied warranty or otherwise.(you can find a generic one on line through google and copy or download it)Here is one>>>Bill of Sale

What's the best way to transfer funds when selling an RV?

34 Replies

filthy_beast
Explorer
Mar 11, 2016
Sorry, double post. I always wondered how that happened and now I know.
filthy_beast
Explorer
Mar 11, 2016
W4RLR wrote:
One of the other things to consider is what you will tell the law enforcement officer who stops you, conducts an investigation for whatever reason and finds more than $10,000 in your possession. Some law enforcement agencies consider a large amount of cash evidence of drug activity. If they even suspect you may be involved in drug activity you can kiss your cash goodbye and it will be a long, drawn out process to get even SOME of it back. In this case you are considered guilty until you can prove you are innocent.

Doubt my word? Google "cash confiscations by law enforcement". Best to do a bank transfer.

It's called Civil Forfeiture and there are only a few states where it has been banned. According to the article the Feds are not allowing states to use Federal Law to enforce it.

Civli Forfeiture
Atlee
Explorer II
Mar 10, 2016
Thanks all.

I figure it will happen with a bank wire transfer. As for cash, I wouldn't be comfortable with that much cash, and I doubt the buyer would be comfortable carrying that much cash.
camperforlife
Explorer
Mar 10, 2016
Unless you are doing a transfer at the bank the safest is by wire transfer. I do wire with overseas customers all the time.
hokeypokey
Explorer
Mar 10, 2016
Houston Remodeler wrote:
You can also call the buyer's bank and ask if their account has the funds to cover the check. If the answer is yes, you can have the amount of the check frozen so the check is good when you arrive.

back in the old days that question was answered on the phone or in person, not done anymore.
2oldman
Explorer II
Mar 10, 2016
W4RLR wrote:
If they even suspect you may be involved in drug activity you can kiss your cash goodbye and it will be a long, drawn out process to get even SOME of it back.
Isn't that lovely?
gbopp
Explorer
Mar 10, 2016
JoeH wrote:
gbopp wrote:
IRS 10K or more reporting

Doesn't apply to private party transactions.

That's why I posted the regulations. :)
W4RLR
Explorer
Mar 10, 2016
One of the other things to consider is what you will tell the law enforcement officer who stops you, conducts an investigation for whatever reason and finds more than $10,000 in your possession. Some law enforcement agencies consider a large amount of cash evidence of drug activity. If they even suspect you may be involved in drug activity you can kiss your cash goodbye and it will be a long, drawn out process to get even SOME of it back. In this case you are considered guilty until you can prove you are innocent.

Doubt my word? Google "cash confiscations by law enforcement". Best to do a bank transfer.
llr
Explorer
Mar 10, 2016
cash is always good but be careful as I have heard of a number of cases where someone is found with a large amount of cash by a LEO and it is confiscated as it must be drug money, chances are low but good luck getting it back if it happened.

I tried to take out 7k to buy a TT, the CU did not have enough hundreds for this and were not sure if they had enough period. this surprised me so you may want to check with the bank a few days ahead to be sure
2oldman
Explorer II
Mar 10, 2016
Stranger wrote:
Regulations against $10K CASH transactions.
I don't think the drug war's gone that insane yet.