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Old 05-27-2017, 08:27 PM   #1
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1997 25' Safari
1973 25' Tradewind
Greenville , South Carolina
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Collecting funds for camper sold to foreigner.

The buyer and I are trying to find a option for both of us to be cover in the purchase of my Globetrotter. We have agreed on a price, the camper has been inspected, he is coming to prep it for transport but the problem arises in his check for the camper. My bank, Wells Fargo, holds all international checks for 1 to 2 weeks. I have stated that I will not release camper and title until I can confirm funds are in my account.

My question is " Is there another option that someone else knows? Escrow? How would that work? PayPay? I think there is a $10,000 limit?

Does anybody have a suggestion?
Thanks,
Rick
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Old 05-27-2017, 08:32 PM   #2
CRH
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Ain't no way take an international check or PayPal....I would tell him to bring a stack of cash.
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Old 05-27-2017, 08:39 PM   #3
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Warning Will Robinson..... Warning.
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Old 05-27-2017, 09:04 PM   #4
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Sold a 1978 Porsche 911sc back to her motherland. We closed our deal with an international bank transfer. You have to get your banks international routing number and then it's just the click of a few computer keys from your buyers banker. We did take a 500.00 deposit through PayPal and waited two weeks after the transfer to set up shipping.
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Old 05-28-2017, 08:53 AM   #5
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1973Argosy is correct. Unless things have changed in recent years, foreign checks are not cleared (paid) in the same manner as domestic checks. They are sent (mailed) for collection, and it can take some time. Wire transfer bank-to-bank should provide good funds within 24 hours. Check with your bank, and they will provide you with the routing and account numbers, along with other information that you need to provide to your buyer so that he can make arrangements with his bank to wire transfer the funds your account.
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Old 05-28-2017, 09:21 AM   #6
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+1 on wire transfer.
I paid $25 to my bank and they did the paperwork. (I was the buyer)
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Old 05-28-2017, 10:19 AM   #7
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+2 on the wire transfer. We paid for our trailer in Texas from our Canadian account like this. Be forwarned though, it took 72 hours to happen as there are lots of gov't security folks scrutinizing money transfers these days due to terrorism and money-laundering schemes.
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Old 05-28-2017, 10:23 AM   #8
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Thanks for all of the responses. The amount of time it takes even for the wire is concerning. I have stated to buyer that I will not release camper or title until funds are verified.

Please share if others have ideas or experiences. It is good to learn through folks here on the forum.
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Old 05-28-2017, 10:36 AM   #9
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Talk to your banker. Transfer time is different for brokers than it is for banks. Those computer keystrokes can go to a third party and some have daily cutoff times which will move the transaction back a day if the order is late. Also your bank may show the wire received, but pending for a period of time so the bank can verify the accuracy of the transfer as to accounts before releasing the funds to you. So, talk to your banker and be informed by a professional. Hope all goes well for you. Pat
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Old 05-28-2017, 11:01 AM   #10
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At some point a certain amount of trust is needed. Not every transaction can be handled simultaneously. I wired money and picked up the goods the next day. I guess the seller could have skipped town or closed, but he didn't.
In the world of banking, a $50,000 wire transfer is pocket change. But not to us where it's hard earned money. The buyer will have to trust the seller to hand over the title after the funds clear.
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Old 05-28-2017, 11:26 AM   #11
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as previously stated, wire transfer ONLY
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Old 05-28-2017, 11:54 AM   #12
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Collecting funds

I used Escrow.com when purchasing a car from Canada two years ago. Funds must be deposited and verified and then buyer has at agree to release funds once inspection was done. Since he is coming to get it that could be an immediate release of funds. The buyer and seller can agree to split the fee, I don't recall exactly how much the fee was, but I remember it being reasonable.
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Old 05-28-2017, 11:55 AM   #13
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Old 05-28-2017, 12:41 PM   #14
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bank transfers

Hi,
I own a business and deal regularly with foreign customers. Bank transfers are the safest and easiest to deal with foreign transfer payments. It cost me $40 USD to send payments to The Netherlands (example). Incoming transfers from Malaysia (example) is approx. $15 USD.
As mentioned you need to provide the buyer with your swift/ABA and account numbers. Your banker (speak with international customer service) should have this information. It takes about two days to receive in-bank confirmation funds have been received and or expended.

K&J
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Old 05-28-2017, 12:54 PM   #15
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CASH or hold eveeything until you have spendable cash in hand. Being hard nosed on this will keep you out of hard times.
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Old 05-28-2017, 01:00 PM   #16
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Just a few more issue related to sell. Buyer us coming in Saturday 10th and Monday we ate headed to Charleston. So Monday is only banking day. No way to clear wire on Saturday.

Any suggestions? Escrow.com may be an answer.
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Old 05-28-2017, 03:30 PM   #17
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No cash , no title or trailer....
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Old 05-28-2017, 05:32 PM   #18
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A quick, I am sorry to the buyer. He informed me that I didn't provide all info and he is correct. I quess I was looking at it from receiving a check end. One option, that the buyer has offered was letting the freight company issue me a check at the point of delivery in Charleston. My response was that it still is a check which would still have to clear my bank account. Taking one or more days to clear. I explained that it leaves me with little options to retrieve my camper and title if funds do not clear. I want him and myself to be covered in a way which gives us both satisfaction.

I hope I have filled in the holes and again my apologies. My intentions were to find a solution to funds being at time of sell. If I have not expanded on everything maybe the buyer will chime in and fill in any holes.
Thanks,
Rick
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Old 05-28-2017, 06:06 PM   #19
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Hi everyone. I am the buyer of the globetrotter. Firstly apologies if my post is duplicated as I've had trouble with the website freezing when I hit submit. I thought I'd respond to clarify the situation as I am not proposing to pay with a foreign cheque. My Australian shipping agent (who handles many similar transactions) advised me that the safest, cleanest and most common way they recommend is for me to transfer the funds via their escrow to their US shipping company who would have their truck driver present a US Bank cheque to the seller on the day in exchange for the trailer and title. Originally this was to occur around 2 weeks after I flew out there to check it out in person (next week). The seller kindly offered, for a nominal fee to cover his costs, to drive me and the trailer the 200 miles to the port which I thought was a generous offer and a great idea as I would be there as the trailer was delivered to the shipping company's warehouse and witness the shipping company hand over the bank cheque (from their local US Bank). In Australia a bank cheque is as good as cash as it comes from a bank not a private entity. This is the most common way we would settle a vehicle purchase. The buyer would turn up, you would check their ID, they would hand over the bank cheque, I'd hand over the registration transfer, they drive away, I go lodge the cheque. The trailer would be in their warehouse for a couple of weeks before being shipped to its new Ausie home. In our case here the seller is concerned about releasing the trailer (to the US Shipping company) before cleared funds are in his account and I am concerned about electronically sending a large sum of money overseas in advance to a private account in advance of my shipping company receiving the trailer. It should be noted that I've paid for a professional RV inspector to give me a comprehansive report, I've paid a deposit, I've got my Australian government import permit, arranged shipping and forked out over $2K for flights and accommodation to fly over there next week to meet the seller and check out my first airstream. So I am a genuine buyer! The method of payment is the only hurdle left to overcome. Any constructive advise and suggestions from members, particularly those who have done this sort of thing before, would be greatly appreciated.
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Old 05-28-2017, 06:16 PM   #20
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A bank check is how I purchased mine. If absolutely necessary and your shipping company has your funds, find an agreeable bank, with seller, from which to have the bank check drawn upon, this way the seller will know it is a real bank and he should be able to call the bank to verify funds if necessary.

To the buyer: unfortunately in this country there has been some forged bank checks, so the caution is not unwarranted.
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