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Old 01-29-2014, 07:50 PM   #11
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Re: Safest way to pay for a van from out of area

Hi Stephanie,
I recently sold a 62 VW to a couple in the Virgin Islands. (Yes, I thought it was a scam at first, but they kept calling and convinced me they were real. They also provided the name and number of another seller they had purchased from.)
I emailed enough photos for them to know the condition etc. They wanted to wire money 3 times, but here is what I did.

I filled out a bill of sale (which you may need for the carrier), signed and had the title notarized (no names in case the deal fell through). I sent by email copies of those documents. Once the buyer received the email, they wired the full amount. When the funds hit my account, I overnighted the original title, bill of sale and extra set of keys. The carrier needed copies of bill of sale and title, and keys.

Worked for me! If you don't want to wire the full amount, perhaps send half and the other half when you receive the title, etc.

Good luck!
Sandra

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Old 01-30-2014, 12:53 AM   #12
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Re: Safest way to pay for a van from out of area

I would highly recommend cashiers check in person in exchange for vehicle and signed title. No one owes anyone anything. You could also drop the vehicle off at a shipping terminal and then fly back home.

If you can't be there in person, like mentioned above, have them do a quick listing on eBay with a Buy It Now for the price you agreed on. You get eBay/PayPal buyer protection and a paper trail that will somewhat protect you and give you recourse. Then you could PayPal/wire/mail cashiers check to the person named on the vehicle title (no one else) and that name should also match the eBay seller's account. After your funds clear have seller overnight the signed title and arrange for your shipper to pick up the vehicle.

Pm me if you want more guidance. I did this for a living awhile back.
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Old 01-30-2014, 07:57 AM   #13
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Re: Safest way to pay for a van from out of area

I bought my SMB from a seller in North Carolina (I'm in Pennsylvania). I had a few in-depth calls with the seller, Googled his name to do some due diligence, and decided to sent a cashier's check overnight to him to hold the van until I could fly down.

In my case, he was a retired doctor and his details were fairly easy to verify via the Web.

Before I sent the check he faxed me the title so I could make sure all was in order, and also signed and returned a bill of sale that laid-out all of the transaction details. With that, I felt OK with sending the $$ ahead of time.

BUT, it was a fairly low-$$ sale, certainly not a $50,000 4x4 SMB or whatever, so the stakes were lower. But, still, we're talking thousands of dollars that I didn't want to lose.

Having the title and other details also allowed me to obtain a license plate from my state that I took with me, rather than having to mess with a transit tag or whatever from the other state.
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Old 01-30-2014, 08:17 AM   #14
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Re: Safest way to pay for a van from out of area

The other side of the coin is, as a seller, I will never accept a cashier's check. Aside from possible forgeries, a cashier's check can be cancelled.

Cash or wire transfer are the only payment methods I will accept.


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Old 01-30-2014, 08:27 AM   #15
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Re: Safest way to pay for a van from out of area

Quote:
Originally Posted by BroncoHauler
The other side of the coin is, as a seller, I will never accept a cashier's check. Aside from possible forgeries, a cashier's check can be cancelled.

Cash or wire transfer are the only payment methods I will accept.


Herb
Yeah, that's a good point. They can also be somewhat easily forged. Years ago I sold a high-end computer and took a cashier's check for it. I deposited in the bank and they took it with no problem. A few days later I get a call from the bank saying it was fraudulent: the person took a real cashier's check for a low-$$ figure, somehow bleached out the imprinted number and ironed it flat, and then ran it though a check-writing machine again for the higher number. Even fooled the bank teller.

In my SMB purchase instance, we shared the same bank (Wells Fargo) and there was a week or so lag time between when I paid and when I actually picked it up, so he had some protection built in.
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Old 01-30-2014, 08:49 AM   #16
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Re: Safest way to pay for a van from out of area

I've used escrow.com once or twice. A little pricey, but you can split it with the seller. You transfer the funds to them, they notify the seller, seller gives up the product and notifies escrow.com. The buyer has a couple days (hours?) to insure the product was received in agreed condition and give escrow.com the thumbs up, seller gets the money.
Kinda sucks to have to do transactions this way, but selling web domain to someone in another country.. I wanted some insurances.
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Old 01-30-2014, 09:23 AM   #17
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Re: Safest way to pay for a van from out of area

As a buyer who cares if a cashiers check can be canceled. If the seller takes it do it.
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Old 01-30-2014, 10:38 AM   #18
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Re: Safest way to pay for a van from out of area

My 2 cents, I would do a face to face if reasonably possible. (Where are you and where is the van located?) When I did this a couple of years ago we had a common bank. I called seller's branch and told them I was coming down on a Sat and if there would be any problem with withdrawing a large amount of cash. They said it was cool so the seller and I went to his bank to do the business.

The seller was super cool, the transaction was straightforward, I drove it back Sat nite and by Mon I was at AAA to register the van.

Hope this helps™,
Ray
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Old 01-30-2014, 08:13 PM   #19
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Re: Safest way to pay for a van from out of area

I will first offer to go for you and "check it"for you............ Second I will share my smb experience .... My beautiful wife and I researched and called on a few before we found ours. We then flew from SLC to Chicago on a Friday, The sellers picked us up and drove us to the van. We inspected and traded a cashiers check we had our personal banker call and verify with his personal banker days before. The van was as expected as was his check. I would like to add I have bought and sold dozens of motorcycles the same way. It is my belief people are honest and fair in most occasions. If you suspect fowl play or feel something is off, go yourself or wait....... another will become available.


Kind regards
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Old 01-31-2014, 08:17 AM   #20
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Re: Safest way to pay for a van from out of area

I have bought and sold vehicles all over the country and have never had a problem "yet", just make sure you follow some easy steps.
1. Have the seller send you as many detailed pictures as possible.
2. Ask for the Vin# and pull a Carfax/Autocheck, you can also call the local Police department nearest the seller and ask if they can verify that it is owned by the seller, check the vehicles history, has it been reported stolen, been involved in any type of accident, you can also call the local DMV to verify that their are no third parties listed on title. (Some states banks allow the registered owner to have the title even when their is money still owed)
3. Have the vehicle inspected by a reputable 3rd party....this is very important especially if you are spending top dollar.
4. Have a professional appraisal done to verify its condition.
5. Involve a notary.....email a bill of sale to the seller and have the seller sign it in front of the notary to ensure they are the owner of the vehicle. I have also written instructions on how funds are to be paid in steps on the bill of sale/ agreement to purchase.

I have then wired 30% of the agreed purchase price to the seller on good faith once the bill of sale/ agreement to purchase with instructions has been signed and notarized and overnighted back to me. Then once my driver/ transport has arrived to pick up the vehicle and handed the keys I than have sent 40% of the remaining balance to the seller, so now the seller has 70% of his selling price and has handed over the vehicle to my driver/transport but I still have no title and it is now the seller who has to take the last leap of faith and send me the title before receiving the balance owed.
I know it sounds complicated but it really isn't that bad. I have purchased Harleys,Classics, Porsche's, Vans all in this way and have yet to be burned.
Hope this helped
Buck
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