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Old 07-22-2004, 06:53 PM   #1
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help with sales transaction please

Hi everyone,

I was wondering if someone out there could share their expertise and could tell me how to arrange a proper transaction for a sale of a trailer. Now that we have our Airstream we have an out of state offer for our SOB. The interested party would like to see it this weekend, and if all goes well, tow it home. How do we proceed to protect all parties involved?

TIA,

Carol
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Old 07-22-2004, 06:59 PM   #2
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Easy. Get cash only from the buyer, and give them the signed title to the trailer. You might fill in a bill of sale, which should include seller's info, buyer's info, and the VIN nnumber of the trailer you are selling. Put the price on it and a disclaimer to ptotect yourself. ( sold as is, no warranites etc. etc.) Send the release of liability to your motor vehicle office asap, so it's off your name.
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Old 07-22-2004, 07:08 PM   #3
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also depending on your state you may need to keep the license plate to turn into the dmv
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Old 07-22-2004, 08:05 PM   #4
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I recently sold our classic corvette to an out of state buyer. We talked repeatedly via email and on the phone. He paid a down payment via paypal, then flew up to see the car in person. Meanwhile we looked up info about him online to confirm he lived where he said he did, that the phone number was connected to his name and address, etc. When he arrived and looked it over he paid for it with a check (and showed us his most recent statement to help confirm that he had the money to cover it) and drove it home with a bill of sale which specified it was only valid after the check cleared. 10 days later the bank verified the check had cleared, and we signed the title over and sent it on to him.

We were very nervous about it while waiting for the check to clear, but everything worked out. It's hard to know what to do when you're dealing with a larger amount than most people would have access to in real paper money, and cashiers checks have gotten to be more and more suspicious. We figured that worst comes to worst, if the check didn't clear we still held the title and would report him as having stolen our car.
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Old 07-22-2004, 09:22 PM   #5
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help with sales transaction please

Greeting wheel interested!

Quote:
Originally Posted by wheel interested
Hi everyone,

I was wondering if someone out there could share their expertise and could tell me how to arrange a proper transaction for a sale of a trailer. Now that we have our Airstream we have an out of state offer for our SOB. The interested party would like to see it this weekend, and if all goes well, tow it home. How do we proceed to protect all parties involved?

TIA,

Carol
I have been involved in transactions such as this both from the buyer's and seller's perspective. The most recent of my experiences was smoothest - - it was handled as follows - - I previewed the coach at the owners' residence made a downpayment in American Express Traveler's Checks - - returned for the coach 72-hours later with a certified funds check for the balance and an Insurance Binder from the regular agent - - the buyer released the title to me and accompanied me to the local DMV to purchase temporary In-Transit tags for the coach.

As a seller, I would be concerned about receiving certified funds prior to releasing the title; and would want confirmation that the purchaser had insurance coverage for the vehicle prior to towing it away (I did this when I sold my Mustang Convertible a few years ago).

Good luck with your transaction!

Kevin
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Old 07-22-2004, 09:54 PM   #6
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Out of state sales transaction

Recently I purchased our A/S, 2 1/2 Staes away. Prior to our visit I made arrangements with the seller as to funds. They agreed that a Bank or Certified check was sufficient should we decide to purchase and drive away.This worked out well for both parties.

An alternative would be for the purchaser to have the Certified check made out to themselves and at the time of sale they could cash the check at a banking institution and hand over the funds to you. If title to your unit needed a notary...most banks have notaries and could take care of signing over the title. Prior arrangement with your bank would help. If they decided not to purchase your unit all they would have to do is return to their bank and state that the check was not used for the intended purpose and would receive their money back minus the fee for a certified check.

Good luck with your sale.
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Old 07-23-2004, 07:54 PM   #7
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thanks all

I found all of your suggestions to be a big help!
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Old 07-23-2004, 08:07 PM   #8
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PayPal the whole transaction

Another alternative which I have used, in addition to a cashier's check is to do a PayPal deposit, then after the buyer looks it over, allow them to use your computer to logon to PayPal and send you the final amount due. Then you can login and ensure that the funds are there. I did that recently when I purchased a motorcycle out of state and didn't have time to go the bank and get a cashier's check prior to hopping on the plane.

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