How to accept payment for Travel Trailer

[MetalGator]

I will be putting my Travel Trailer up for sale soon (just bought a Class A). I have never sold something like this privately before. I was trying to trade it in on the Class A but they really gave me a low ball offer. How do must people except payment for selling large items? I know that certified checks now are easy to fake. Asking someone to give me 10K+ in cash seems unrealistic. I do have a Paypal account but then I lose 3%.

[ppine]

I have dealt in cash, but recently came out of a bank with $10,000 in the waist belt of my pants in the back under a jacket. A guy was eyeballing me that was in the bank beforehand. Since then I go to the buyer's bank with the seller and get a cashiers check made out to the seller.

[gbopp]

Captain_Happy wrote:
Go to the buyers bank to get paid and then go to your local DWV and the get the title transferred into there name. Now if it's an out of town buyer have them bring a certifed bank draft from there bank and take it to your bank and cash it. Now if you do all this you'll know your going to get screwed.

Then why would the OP do it if he knows he's going to get screwed? :h

[ol_Bombero-JC]

jake2250 wrote:
"In God we Trust,,,,,,All Others Pay Cash"!!

REALLY, really BAD slogan, 'cause.......

.......sometime during creation - GOD made counterfeiters...:S

~

[jake2250]

"In God we Trust,,,,,,All Others Pay Cash"!!

[MetalGator]

RAS43 wrote:
There was a story in our local media recently about counterfeit bills showing up in large purchases like for RV's and boats. So you can't trust cash. I believe a direct transfer between banks or going to the buyers bank is the best suggestions.

I was worried about this as well. I purchased a couple of those markers that are supposed to tell you if the bills are counterfeit. I don't know how accurate they are.

[ol_Bombero-JC]

Toddupton wrote:
Cash! You can follow then to their bank if need be.

Almost an easy answer to a tough (??) question!

But - lots of better options than "cash", like the wire transfer.

Even a bank check from his bank (or Credit Union) - issued while you are there, indicates the funds are represented (gone from his account to cover the check).

Another simple solution (banks, not CUs).

Instead of cash, checks, etc.
Open a *savings* account at the buyer's bank.
The bank will be happy to move his funds to YOUR account.
Fee/s should be zero to do that.

BTW - "Escrow Accounts" - unnecessary, and usually have fees attached.

Remove funds from your savings account at a time, method and amount/s of your choosing.

Close it whenever you wish...:C



~

[RAS43]

There was a story in our local media recently about counterfeit bills showing up in large purchases like for RV's and boats. So you can't trust cash. I believe a direct transfer between banks or going to the buyers bank is the best suggestions.

[beemerphile1]

Cash or direct wire transfer bank to bank.

[RGar974417]

In Pa, you must go to a notary to make the license transfer. So if someone attempts to rip you off, you have all their information on record. I have sold 2 trailers and took checks both times. never a problem.

[Veebyes]

Trot off to the bank together. Sit down with a teller, open an escrow acct to take the funds from the buyer & transfer them out to your acct. Close the acct. The banker can witness the transaction for you both.

I had a certified check. Went to the sellers bank together. Sat down opened the acct. Money went in. Bank took balance of the loan. Paid balance left to sellers acct. Witnessed bill of sail. Gave me title. Done. Easy as can be.

[golf_bears]

I should of been a little clearer fj12ryder. Yes, everyone I wrote a check to has my checking account number. Chances are though you've never written a check to the person buying the RV. But my suggestion was to have your bank transfer the funds from your dummy account to your savings account. No one has that number not even the buyers bank.

[fj12ryder]

golf_bears wrote:
schlep1967 has it right. Wire transfers are not reversible unless you agree. Wire transfer from their bank to your bank into a dummy account setup by your bank. They transfer to your dummy account at your bank. Your bank transfers to your real account. This way the buyer has no clue to your real account number. Once your bank tells you your money is safe, sign the title and hand it over to the buyer.

No "fuss no muss" for either of you.

Why mess with a dummy account? Who cares if he has your account number? Everyone that you ever wrote a check to has it, it's printed on your checks. No sense making it more complicated than it needs to be.

[time2roll]

MetalGator wrote:
Asking someone to give me 10K+ in cash seems unrealistic.

No actually it is not really a problem.
But then how do you know the bills are real?
Tell the buyer $100 bills only or you will be all day counting.

Best IMO is to go to his bank and see the check drafted or bring your bank info and have the money wired. Bring the trailer and title to the bank also and do the whole deal right there.

[golf_bears]

Going to the buyers bank is assuming his bank is close by. If the buyer flies in from out of state and there is no branch office in you town/city, what are you going to do? He has to come to your house/town to pick up your rig so it's best to complete the sale and money transfer at your bank in your town/city. Again "No Fuss No Muss"!!!!

[theoldwizard1]

Go to the buyers bank with him and have them give you a cashiers check. You need to be there to witness them printing out the check.