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Old 01-31-2014, 08:40 PM   #21
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Re: Safest way to pay for a van from out of area

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Originally Posted by my3kids
I called seller's branch [...] would be any problem with withdrawing a large amount of cash.
That's actually a good point, because I went to my local Wells Fargo branch when I was buying my enclosed trailer and they curtly informed me they had a $5,000 daily cash withdrawl limit due to the branch size. Luckily the branch manager made an exception because it was late in the day and they'd had plenty of deposits. I was not in the mood to drive all over hitting up banks to scrape together cash.

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Old 03-08-2014, 11:06 AM   #22
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Have others used escrow.com?

Have any others used Escrow.com, and if so what were your experience? They charge a fee based on the amount of the transaction and have the option of wire transfers on both ends. So that seems to me a pretty good option when dealing with more than a few 1000 dollars.

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Old 03-08-2014, 05:43 PM   #23
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Re: Have others used escrow.com?

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Originally Posted by catinmoon
Have any others used Escrow.com, and if so what were your experience? They charge a fee based on the amount of the transaction and have the option of wire transfers on both ends. So that seems to me a pretty good option when dealing with more than a few 1000 dollars.

thanks
Stephanie
Not Escrow.com. We just used a local bank, it's what they do for a living... wired them the $$ then had them get the title. Smooth and easy.
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Old 03-08-2014, 07:33 PM   #24
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Re: Safest way to pay for a van from out of area

The last several cars I have bought, I simply carried a sack full of cash. Kinda barbaric, but effective.

My funny story is that when I recently bought my Adventurewagen Quig from far away, from strangers, I handed her the envelope and she said "thank you," without even bothering to count it. I love doing business with honest people, who expect honesty from others.
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Old 03-09-2014, 12:47 AM   #25
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Safest way to pay for a van from out of area

Would highly recommend avoiding all cash for your personal safety and because there's no recourse. You want as much paper trail as possible and take as many notes as you can in case things go sour. Counting cash twice has everything to do with human error as it does dishonest people.

I'm not sure what you are going to accomplish with escrow.
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Old 03-09-2014, 06:21 AM   #26
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Re: Safest way to pay for a van from out of area

Our good friend bought a Class C motor home and used Escrow.com, or so he thought. Seller sent a link in an email to the "escrow" he had set up for the transfer. When Mike arrived at the address of the seller, there was no motor home for sale there. He immediately contacted his big name bank that had wired the funds and they contacted the FBI. Turns out the bad guys used the same big bank so they were able to freeze the receiving account before the funds were withdrawn and he eventually got his $34K back.

The link to the Escrow.com escrow was to a fake Escrow.com website that looked just like the real thing and they had fooled many other buyers of various vehicles and stolen big bucks.

I always avoid links and go direct to the real website.
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Old 03-09-2014, 10:36 PM   #27
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Re: Safest way to pay for a van from out of area

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I always avoid links and go direct to the real website.
Yes, t-y-p-e it in long hand.
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Old 03-10-2014, 09:57 AM   #28
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Re: Safest way to pay for a van from out of area

I flew out to buy my van. The seller picked me up in the SMB and drove me to my bank where I withdrew cash. Paid for the van and went on my way.
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Old 03-17-2014, 02:32 PM   #29
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Re: Safest way to pay for a van from out of area

To avoid using cash on large transactions, accompany the buyer to the buyer's bank. Have the buyer authorize the necessary withdrawal from their account to have their bank make a cashier's check issued to you where _you_ are both the remitter (i.e. the purchaser of the check) and the payee. This transaction is similar to you coming into the bank with cash and having the bank issue a cashier's check from you (as the remitter) to you (as the payee). The difference is that nobody had to deal with cash. Your buyer's withdrawal is "as-if" it was a cash withdrawal which is then immediately paid out to you in the form of a cashier's check. (But the cash is never produced as a stack of greenbacks.) Since you are the remitter, the buyer cannot put a stop on the cashier's check since it was never their check. You could put a stop on it, since it is your check, but obviously you won't unless you like making life difficult for yourself.
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Old 03-28-2014, 04:30 PM   #30
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Re: Safest way to pay for a van from out of area

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Originally Posted by Esmi2
My funny story is that when I recently bought my Adventurewagen Quig from far away, from strangers, I handed her the envelope and she said "thank you," without even bothering to count it. I love doing business with honest people, who expect honesty from others.
Ha! Happened again today. Bought this Lovely from a stranger, handed him an envelope, we shook hands and parted. Love working with honest people.
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