Free 7 Day Trial RV GPS App RV Trip Planner Campground Reviews RV Maintenance Free 7 Day Trial ×
 


Reply
 
Thread Tools Search this Thread Display Modes
 
Old 01-24-2017, 05:48 PM   #1
2 Rivet Member
 
Currently Looking...
2017 Interstate Grand Tour Ext
San Diego , California
Join Date: Jan 2013
Posts: 24
How to Pay For a Purchase

We will be selling an expensive trailer soon and are uncertain about how to require payment from a buyer. What is the safest way for a seller to receive payment?
Fly.On is offline   Reply With Quote
Old 01-24-2017, 05:49 PM   #2
4 Rivet Member
 
1955 30' Liner Commodore Vanderbilt
Vintage Kin Owner
Vintage Kin Owner
Linden , Michigan
Join Date: Jun 2014
Posts: 276
Mula mula

CASH is KING. A wire transfer to your bank will also work after it fully clears.
StevieB is offline   Reply With Quote
Old 01-24-2017, 07:51 PM   #3
Rivet Master
 
StreamNTyme's Avatar
 
2007 25' Safari FB SE
2000 30' Excella
1999 30' Excella 1000
Low Country , South Carolina
Join Date: Feb 2004
Posts: 803
Images: 27
Quote:
Originally Posted by stevieb View Post
cash is king. A wire transfer to your bank will also work after it fully clears.
cash !!
__________________
StreamNTyme
StreamNTyme is offline   Reply With Quote
Old 01-24-2017, 07:55 PM   #4
Rivet Master
 
SilverGate's Avatar
 
2007 23' Safari SE
San Diego , California
Join Date: Apr 2006
Posts: 1,495
I'd like to see more responses... perhaps the better title for this inquiry would have been "Best way for seller to receive payment."

(Would like to hear others' experiences along with being as specific as possible.)
SilverGate is offline   Reply With Quote
Old 01-24-2017, 08:01 PM   #5
Rivet Master
 
AWCHIEF's Avatar
 
2006 23' Safari SE
Biloxi , Mississippi
Join Date: Nov 2011
Posts: 8,278
Images: 33
Cash!
__________________
MICHAEL

Do you know what a learning experience is? A learning experience is one of those things that says "You know that thing that you just did? Don't do that."
AWCHIEF is offline   Reply With Quote
Old 01-24-2017, 08:19 PM   #6
CRH
Rivet Master
 
1995 25' Excella
xxxxx , xxxxxx
Join Date: Apr 2015
Posts: 1,924
Cash
CRH is offline   Reply With Quote
Old 01-24-2017, 08:29 PM   #7
2 Rivet Member
 
1977 Argosy 28
Fallon , Nevada
Join Date: Oct 2016
Posts: 45
Exclamation bank cashiers' check

I recently purchased a used motorcycle and had the credit union cut me a check. In fact, I chose the branch closest to the seller so I wouldn't need to transport the check as far. I'm too chicken to carry much cash on my person.
Particularly, police have turned into highwaymen. The Pershing County, Nevada Sheriff's Office (the next town north of Fallon and on I-80) has a particularly bad reputation for seizing cash from anybody passing through. If you carry more than about $100 cash and they find out, they can seize it as "drug courier money". Attorney's fees to get your money back typically run ~$36k. One example was a man who won a considerable amount in Reno. A Pershing Deputy stopped him and seized all of it, wrote a receipt, and advised him to keep going and not try to get it back!
Many jurisdictions profit the same way. Civil forfeiture laws were written to seize money from drug lords so they wouldn't have the finances to fight in court. The legal fiction is, they are charging the money with a crime, not you. You must go to court and PROVE your money is legitimate; money doesn't have a Bill of Rights so it's not innocent until proven guilty: render unto Caesar! BTW, the nationwide average forfeiture is between $600 and $700.
Dave, the Scourge of the ION
Scorge-ION is offline   Reply With Quote
Old 01-24-2017, 08:31 PM   #8
4 Rivet Member
 
B4WEDI's Avatar
 
2006 19' Safari SE
Nawthin' , Hemisphere
Join Date: Dec 2006
Posts: 308
Images: 2
Nice idea but....

Cash is a nice idea, but pretty hard to come by easily in amounts > than 10K, even from your own bank.

Unreasonable too to ask a buyer to show up with a paper bag of mixed hundreds and twenties in that amount. Unsafe for the buyer and unrealistic for the seller who will also have trouble at his bank with the big wad of cake to deposit unless you plan on "feathering your nest" as it were.
Lot's of questions asked and IRS forms to fill out.

My experience has been a bank transfer is best bet for both sides, enabling a paper trail and some protection for both parties built in.
__________________
*** KEEP LOOKING UP ***

T & K



B4WEDI is offline   Reply With Quote
Old 01-24-2017, 08:43 PM   #9
Dazed and Confused
 
Isuzusweet's Avatar
 
Currently Looking...
1983 31' Airstream310
Hillsburgh , Ontario
Join Date: Sep 2012
Posts: 3,805
I don't know exactly how banking works in the US but up here in Canada we ask for bank drafts to pay for expensive items. The buyer goes into his or her bank branch and asks the bank to write a cheque/bank draft to you on the buyers behalf. Once the bank draft is written on the buyers behalf, he or she has no access to that amount in their account. The bank itself is writting you a cheque, which it can't bounce.

IMHO Its better than cash, as having someone drop off $25,000+ in cash is just opening you up to getting robbed; leaving you trying to prove it was the buyer that set up the robbery; or as others have stated, trying to prove to the police that it wasn't the benefits of crime.

PS Certified cheques can be stop paymented and Paypal is also a bad way to recieve money, as the buyer can submit a claim that goods weren't received.

Cheers
Tony
__________________
Per Mare, Per Terram and may all your campaigns be successful.

Its a recession when your neighbor loses his job; its a depression when you lose your own. "Harry S Truman"
Isuzusweet is offline   Reply With Quote
Old 01-24-2017, 09:49 PM   #10
3 Rivet Member
 
2007 20' Safari SE
Camano Island , Washington
Join Date: Oct 2016
Posts: 101
Purchased a Safari 20 in August from a seller in another state. My banker made a transfer directly to the sellers bank account after we made the agreement. His bank then notified him when the money transfer was completed. The whole process took about 20 minutes from the time we agreed on the sale. All it took was a phone call to my banker giving the go ahead on the transfer. Very easy for both parties
Camano20 is offline   Reply With Quote
Old 01-25-2017, 04:58 AM   #11
Rivet Master
 
paiceman's Avatar
 
2020 28' Flying Cloud
Upper St Clair , Pennsylvania
Join Date: Aug 2011
Posts: 2,930
Images: 1
I've sold a number of trailers, cars, motorcycles and RVs over the years and it's always cash. Recently I not only accept only cash, BUT prior to signing over title take the seller and myself to my bank to check the authenticity of the cash and then if all is ok, it always has been, one of my bankers notarizes the title for us.

Bud
__________________
Bud

2020 28' Twin Flying Cloud-(Our 5th Airstream)
2021 F350 6.7 King Ranch
USAF Master Training Instructor (TI) - 68-72
paiceman is offline   Reply With Quote
Old 01-25-2017, 07:05 AM   #12
Rivet Master
 
crispyboy's Avatar
 
1994 30' Excella
alexandria , Kentucky
Join Date: Aug 2004
Posts: 2,075
Images: 3
Quote:
Originally Posted by Isuzusweet View Post
I don't know exactly how banking works in the US but up here in Canada we ask for bank drafts to pay for expensive items. The buyer goes into his or her bank branch and asks the bank to write a cheque/bank draft to you on the buyers behalf. Once the bank draft is written on the buyers behalf, he or she has no access to that amount in their account. The bank itself is writting you a cheque, which it can't bounce.
This is what I have done in the past. Also while at the bank we take care of getting the signatures notarized on the title.
__________________
Steve, Christy, Anna and Phoebe (Border Collie)
1994 Classic 30'11" Excella - rear twin
2009 Dodge 2500, 6 Speed Auto, CTD, Quad Cab, Short Bed
Hensley Arrow hitch with adjustable stinger
WBCCI # 3072
crispyboy is offline   Reply With Quote
Old 01-25-2017, 07:18 AM   #13
Full time Airstreamer
 
SCOTTinNJ's Avatar
 
2014 30' FB FC Bunk
Anywhere , USA Living.Somewhere.Yonder
Join Date: Jan 2014
Posts: 1,359
escrow.com
__________________
@living.somewhere.yonder | Instagram
SCOTTinNJ is offline   Reply With Quote
Old 01-25-2017, 07:29 AM   #14
Rivet Master
 
mimiandrews's Avatar
 
1966 22' Safari
Hilltop Lakes , Texas
Join Date: Jun 2008
Posts: 1,699
Once the bank draft is written on the buyers behalf, he or she has no access to that amount in their account. The bank itself is writting you a cheque, which it can't bounce.

Crooks have been known to produce very good forgeries of bank drafts. The fancy printers we have these days and a bit of skill with a computer is all it takes.

I'd go with the purchaser to his bank and watch the bank draft being prepared.
mimiandrews is online now   Reply With Quote
Old 01-25-2017, 07:51 AM   #15
Rivet Master
 
A W Warn's Avatar

 
2000 25' Safari
Davidson County , NC Highlands County, FL
Join Date: Aug 2006
Posts: 4,393
Quote:
Originally Posted by paiceman View Post
I've sold a number of trailers, cars, motorcycles and RVs over the years and it's always cash. Recently I not only accept only cash, BUT prior to signing over title take the seller and myself to my bank to check the authenticity of the cash and then if all is ok, it always has been, one of my bankers notarizes the title for us.

Bud
^^^^
This is what I do too. Either party's bank works for me to do the exchange.
If cash, the money (after it's mine) never leaves the bank. I deposit it or ask for a bank draft so I have no chance of loss.

I do not sign a title until the cash has been confirmed and both the money and the title have been placed into the hands of the banker.

During my younger/stupid days, I have been to the house of a stranger and done a large cash transaction. Not now.
__________________
Alan
2014 Silverado LTZ 1500 Crew Cab 5.3L maximum trailering package
A W Warn is offline   Reply With Quote
Old 01-25-2017, 08:03 AM   #16
Lost in America
 
mojo's Avatar
 
2015 27' FB International
2006 25' Safari FB SE
2004 19' International CCD
Santa Fe , New Mexico
Join Date: Feb 2007
Posts: 1,957
Bank to bank transfer via phone and title transfer completed at nearest state license office includes taxes and temporary travel license.
__________________
This is the strangest life I've ever known - J. Morrison

2015 Airstream International Serenity 27FB
2017
Chevy Silverado 2500HD Duramax Diesel

mojo is offline   Reply With Quote
Old 01-25-2017, 08:18 AM   #17
Rivet Master
 
1999 30' Excella 1000
small town , Maryland
Join Date: Sep 2010
Posts: 797
I'm like everyone else cash. But we are being phased out to a paper-less world. It used to be 10k withdrawal before the feds were notified by the bank, now it's 2,500. In the officer's mind, if you have large amount of cash, its for drugs, Remember the days, innocent until proven guilty? Now it's guilty until proven innocent. Always have a copy of the ad with you, when purchasing anything with cash. In 10yrs we will be buying everything with a phone. Sorry about the rant...it's hard for me to adapt. Remember it's the bank's money, until you withdraw it.
streaminwild is offline   Reply With Quote
Old 01-25-2017, 11:51 AM   #18
2 Rivet Member
 
2006 19' Safari
East Greenbush , New York
Join Date: Jul 2006
Posts: 54
I'd recommend a wire transfer.
__________________
Matt

2006 Safari Bambi 19'
2017 Silverado LT Z71 Double Cab 1500
heitkergm is offline   Reply With Quote
Old 01-25-2017, 12:00 PM   #19
Rivet Master
 
2015 25' Flying Cloud
2016 30' Flying Cloud
Blenheim Ontario , Ontario
Join Date: May 2015
Posts: 1,263
Quote:
Originally Posted by Scorge-ION View Post
I recently purchased a used motorcycle and had the credit union cut me a check. In fact, I chose the branch closest to the seller so I wouldn't need to transport the check as far. I'm too chicken to carry much cash on my person.
Particularly, police have turned into highwaymen. The Pershing County, Nevada Sheriff's Office (the next town north of Fallon and on I-80) has a particularly bad reputation for seizing cash from anybody passing through. If you carry more than about $100 cash and they find out, they can seize it as "drug courier money". Attorney's fees to get your money back typically run ~$36k. One example was a man who won a considerable amount in Reno. A Pershing Deputy stopped him and seized all of it, wrote a receipt, and advised him to keep going and not try to get it back!
Many jurisdictions profit the same way. Civil forfeiture laws were written to seize money from drug lords so they wouldn't have the finances to fight in court. The legal fiction is, they are charging the money with a crime, not you. You must go to court and PROVE your money is legitimate; money doesn't have a Bill of Rights so it's not innocent until proven guilty: render unto Caesar! BTW, the nationwide average forfeiture is between $600 and $700.
Dave, the Scourge of the ION
Jeez guys;
Yer scaring me out a very rare trip to your country😨
MelGoddard is offline   Reply With Quote
Old 01-25-2017, 12:12 PM   #20
Rivet Master
 
Boxite's Avatar
 
2008 22' Sport
Spicewood (W of Austin) , Texas
Join Date: Mar 2015
Posts: 1,731
It's simple actually. , Money Orders, American Express, etc., and Cashier's Checks are not good because they are easily forged. Even banks have fallen for forged Cashier Checks and later reversed funds on the recipient. Do NOT accept a Cashier's Check.

Have the buyer's bank wire transfer funds directly to your bank. Have YOUR BANKER confirm the money has been received. Do not accept a call from an unknown person claiming to be your banker. YOU call YOUR bank officer to confirm. Lastly, this is important...DO NOT ACCEPT AN "ACH" TRANSFER!

An "ACH" transfer can also be defrauded. (ACH transfers work thru a wide-area federal system which is vulnerable.) Have the buyer's bank DIRECTLY transfer the money into your acct. Have your bank confirm the money is in your acct before handing over the title.
Boxite is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Argosy Motorhome Purchase & Renovation, What To Pay, What To Expect adamwright Argosy Motorhomes 3 08-31-2014 06:17 AM
First Airstream purchase... need purchase tips, please. movin-in Buyer Guidelines 8 06-03-2010 05:09 PM
Possible purchase need purchase/deposit/title forms LiLNomad Dollars & Cents 5 05-28-2010 12:59 PM


Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by the Airstream, Inc. or any of its affiliates. Airstream is a registered trademark of Airstream Inc. All rights reserved. Airstream trademark used under license to Social Knowledge LLC.



All times are GMT -6. The time now is 09:25 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.