BAC Forum
General Boards => General Discussion => Topic started by: Keith Duner on June 10, 2015, 03:42:53 PM
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We are in the process of getting ready to put our 2005 Beaver Monterey on the market. I know I have seen numerous posts about how money is transferred from the buyer to the seller but, no matter what I use as a search, I come up with zero information. Does anyone have information on the safest way to make sure the money from the sale is in your bank account before giving the title to the purchaser?
Thanks ,
Keith & Carol
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http://beaveramb.org/forum/index.php/topic,3222.msg24361.html#msg24361
I searched on "collected funds"
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Like Gary Wolfer, I've done these sorts of private (non-dealer) transactions at my credit union or bank. If nothing else, their loan personnel know the procedure well and can monitor and implement the exchange. By just meeting the buyer at his, or preferably your, bank, there is a high level of assurance that the buyers money is confirmed good and all the T's crossed and i's dotted. Plus, the bank can supply a notary if needed for a sales receipt, a no implied warranty/sold as-is agreement, etc. My credit union never charged for their officer's time, and the notary service (usually the same officer) was either minimal or free.
The only complication arises if the buyer is not local and can't readily get to your bank or you to his. But then the coach has to physically change hands somehow, so usually there's some sort of logistical solution. Your buyer needs to understand that whether he flies in to buy on sight or otherwise, the deal is to be done with a bank officer's oversight, and therefore during bankers' days and hours.
Joel
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Wire transfers are the most straight forward and safe (IMHO). Check with your bank and they should confirm that once the $ hits your account it is yours. Only then sign over the title. Cash seems like a safe method, but carrying that much to your bank in $100s is not a safe feeling.
Steve
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Keith
I have a friend looking for a nice coach
Have you sold it yet, You have Pics?
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Check his thread Orman...
http://beaveramb.org/forum/index.php/topic,4640.msg34780.html#msg34780
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Thanks Joel. It's still for sale Orman.
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There are hundreds of ways to be scammed on any sale. Totally agree with others that the safest way is to close the transaction at a bank. In person, if not, be sure that the money is wired to your account at the bank and that your bank verifies that you have the money. NEVER, NEVER, NEVER deal with Certified Bank Checks, attorneys or a escrow company. If you do, you are almost certain to be ripped off. In the past, I have investigated, in one form or another the best scams around. Some of the best are the ones that scam the government, often in person.