Forum Discussion
rgatijnet1
Apr 23, 2018Explorer III
A lot depends on if you have the title in hand to give to the buyer. I once had a buyer show up with $56,000 in cash to buy one of my Classic Cars. Even then I did not give him the title until we took the cash down to my bank to verify and put in my account. They had two people count the cash, and check for counterfeit bills, while we watched.
Wire transfer is the only other method that is non-reversible. The problem with that is that the buyer must set it up with his bank before he comes to your location. I tried to initiate a wire transfer by phone during one trip and my bank would not do it. When we got back in town we set up the procedure to do it when we traveled.
If you do not have the title because of e loan/lien on the RV, then things get a little more difficult, especially if your state has electronic titles.
Check with the lending institution and get their recommendations on handling the transaction.
A lot depends on a certain amount of trust on both sides of the transaction. I sold my '57 Chevy convertible for over $100,000 to a man that wire transferred the money to me. I then overnighted the title to him and shipped the vehicle to him a few days later. I never met him in person and he never saw the vehicle until it arrived at his museum. This is not the first time this has happened to me and I have done the same thing with purchases.
Wire transfer is the only other method that is non-reversible. The problem with that is that the buyer must set it up with his bank before he comes to your location. I tried to initiate a wire transfer by phone during one trip and my bank would not do it. When we got back in town we set up the procedure to do it when we traveled.
If you do not have the title because of e loan/lien on the RV, then things get a little more difficult, especially if your state has electronic titles.
Check with the lending institution and get their recommendations on handling the transaction.
A lot depends on a certain amount of trust on both sides of the transaction. I sold my '57 Chevy convertible for over $100,000 to a man that wire transferred the money to me. I then overnighted the title to him and shipped the vehicle to him a few days later. I never met him in person and he never saw the vehicle until it arrived at his museum. This is not the first time this has happened to me and I have done the same thing with purchases.
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