How to manage payment for large ticket items for sale

[jojo]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.

[retiredguy123]

Obviously, cash is always good.

But, another option is to meet at the buyer's bank and get a cashier's check with your name on it as the payee.

[jojo]

Obviously, cash is always good.

But, another option is to meet at the buyer's bank and get a cashier's check with your name on it as the payee.

Thank you. I thought of a cashiers check but I like the idea of meeting at our bank.

[JMintzer]

Whatcha' selling? I'm looking for a nice clean late model cart... ;)

[rjm1cc]

A money order or a casher check (The buyer would pay his bank and they would give him one of their checks made out to you.)
As mentioned best to do the transaction at the bank so you can cash the check. But then you might not want to leave the bank with the cash so the casher check might be best.

[thelegges]

We met at their bank, and a cashier check was given to us, from chase bank. We deposited in citizens first, next door. We also had a bill of sale that we included with our taxes, copy of check, since it was such a large transaction

[vintageogauge]

I once sold a car to an individual that wanted to pay with a personal check. I called my insurance agent, at the time it was Erie Insurance, he advised that if the check was no good it would be considered theft and Erie would cover it. Not too many people are going to take a chance bouncing a check on a big ticket item as it's a felony and carries stiff penalties.

[tophcfa]

Cash or bank check. Anything else is unacceptable. There is no title, once the buyer drives away in the cart you are out of luck if another form of payment turns out to be no good. The only way i would accept a personal check would be if the cart stays in my garage, with the keys in my possession, until the check clears.

[OrangeBlossomBaby]

We paid by personal check for our golf cart. But we bought it from the guy across the street from us. I'm sure he knew that we weren't going to rip him off, especially since he knows where we live :)

[Two Bills]

Gift vouchers are very popular at the moment with certain transactions!:icon_wink:

[RICH1]

Never use PAYPAL.....PayPal will also tell you Never use PayPal and explain to you how the scam works!

[JoelJohnson]

If you decide to go the cash route, you can use the Sheriff's parking lot, they have cameras and I don't think anyone would try to rob you there.

[scottiesrgreat@gmail.com]

First - write up a simple BILL OF SALE and make sure to get signatures before the completion of the transaction!

Years ago - when my father passed - I sold his truck. I had the ‘Bill of Sale’ - signed by both parties - and we all met at the buyer’s bank - for transfer of funds.

[noslices1]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.

Cash is the safest, but if you are selling it to someone who lives in The Villages, a personal check should be ok. Be sure and make a Bill of Sale with their name, address and phone number.

[jojo]

Whatcha' selling? I'm looking for a nice clean late model cart... ;)

Sent you a PM.

[Petersweeney]

Unless you use PayPal regularly and with high transactions they hold your money as a seller for 21 days and charge a fee % - no wonder that clown is so rich.....

[ankeny]

The most important thing is a bill of sale signed and dated with time listed buy both parties. If you take cash check the bills for counterfeit (use a light pen for new bills or a marker pen for old bills), Also if you deposit more then $10,000 cash in your bank account the bank must report it to the government.

[Bay Kid]

Cash is always king.

[Hiltongrizz11]

There are lots of people buddy that will gladly write a bad check and disappear. Chances are you wouldn't even be knowing who you were talking with anyway. If consequences and big penalties deterred crime we wouldn't have any

[leejan121]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.

What are you selling? In the market for a used golf cart.
Thanks

[NoMo50]

Cashier's checks are easily counterfeited, and many times this will not be discovered by your bank for several days. Cash can also be counterfeit. In my former line of work I have seen both, and it never works out well for the seller. The safest way to transfer funds on a big ticket item is to do a bank wire. There is typically a small fee, around $20, for the wire. As a seller, I would gladly pay the fee for the safety/security of the transfer. With a bank wire, the funds are certified the instant they hit your account, and this is generally a matter of a couple of hours.

[Tmarkwald]

cash and provide a receipt that has both of your info on it.. Unless the golf cart is over 15K then maybe use another method...

[tsmall22204]

Money order! That is so the 80s.

[Ladysilky51]

Cash! Too many scammers around.

[mpcolonel]

Cash, check from bank or loan company or cashiers check. When I sold my car these were the only 3 I would accept. All cover you

[Kgcetm]

Cash makes everyone happy and takes fraudulent checks (bank and personal) off the table.

[richl]

Cash is the only risk-free way IMO

[ron32162]

cash only

[SeaCros]

Cash is king!!

[DAVES]

Cash or bank check. Anything else is unacceptable. There is no title, once the buyer drives away in the cart you are out of luck if another form of payment turns out to be no good. The only way i would accept a personal check would be if the cart stays in my garage, with the keys in my possession, until the check clears.

Re: check clears
If, I recall an in state check must clear in 3 days. It does not mean what we think it does.
If the check bounces the bank will simply take the money from you. I've had that happen to me.

Re: money orders
I used to sell on ebay. I never had a money order prove to be invalid but I did get some that were drawn by companies I had never heard of.

[taylor111947]

My buyer paid in cash. Gave me a $500 deposit and came back the next day with the remainder. Gave me his name and address, showed me his driver’s license and we signed a Bill of Sale.
The only problem is that he paid in $100 bills which many places won’t cash and I don’t have a local bank to deposit the money. Other than that, I had no concerns doing it this way.

[Quixote]

Never use PAYPAL.....PayPal will also tell you Never use PayPal and explain to you how the scam works!

Could you please elaborate a little on this. I've had a paypal account for over two decades and have NEVER had a problem with them. Evidently there's something I don't know about....

[BettyInFL]

Zelle is a great service that many of the larger banks (Chase, Wells Fargo etc) provide. No fee to the receiver. The 'sender' of money has option to pay with cash from their bank or a credit card (fee for them if CC). Money is immediately deposited to your bank account. Done with a user name

Venmo (owned by Paypal) provides the same service, but once you receive the money, you have to click another button in the app to transfer to your bank account.

For a small fee on both ends, their bank could 'wire' the money to your bank. We did that when we sold our RV.

[hal195z]

Do not take a check or money order from any buyer that you do not know. There are many scammers on this site and Nexdoor or Craigs List etc. trying to get sellers to take anything but CASH. A check may clear your bank but may not clear the bank it was written against so it will eventually come back to you and you will be out the amount of the check and have to pay a bounced check fee and also lose the item you were selling.

[JayK!]

Cash

[MandoMan]

Never use PAYPAL.....PayPal will also tell you Never use PayPal and explain to you how the scam works!

Wait a minute!!!!!! I use PayPal all the time for multi-thousand dollar purchases. The problem is not PayPal, but a fake PayPal called International PayPal or something. If a real PayPal account sends money to your account, it is in your account. It’s yours. You have the money and they don’t. Still, cash is nice. Cashier’s checks have lots of problems, too. Those who meet at a bank and accept the check from the bank employee are okay. It’s fake cashier’s checks that are the problem.

In some areas lots of people are using something called VenMo. (Short for Vend More—sell more.) it’s like PayPal. I guess it’s very good and fast for things like paying a babysitter. I don’t know about large purchases. I haven’t used it, but I have a friend who does.

Western Union money orders have been very problematic and should probably be avoided. If local buyers can go to the effort and expense of buying a Western Union money order, they can get you cash.

If you ever get an email purportedly from PayPal telling you to click below and update your password, or card number, or whatever, DON’T. EVER. Go to PayPal online. If you need to do something, there will be a notice telling you. PayPal may send you a message asking you to do it, but they won’t send a link for you to click.

[Tmcbryan]

If it is a check of any sort, get DL number and village id#. That way you can find them

[LeftyMike]

Whatcha' selling? I'm looking for a nice clean late model cart... ;)


2018 Crown Cruze, 2 passenger, $4,895, 48 volt electric, <3K miles, Sunbrella enclosure, rear bag canopy, 10” Steel belted radial tires, watering system, self-contained charger, UNIQUE KEY, seat belts, floor mat, padded vent posts. runs OK.

Original Mfg: LVTONG
Model: LT-A627-2

Crown Model # CC48-2

[genobambino]

Never take any kind of check unless your at the bank and they give it to you. Cashiers, certified, money orders are all being copied and scammed. Just call your bank and ask them. CASH ONLY

[Cranford61]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.
One of life’s biggest enigmas.

[Skip]

No matter what system of payment you choose, surprise the buyer when you meet by asking to see his/her driver's license. Then you take a photo of it with your smart phone. If he/she disappears without buying it, you know it was a fraud.

Otherwise you are good to go.

Skip

[Greg Teeters]

Watch out for wooden nickels. Why does everyone on here act like they are 3 years old? I am sure that everyone on here has done much bigger deals than a golf cart. Gimme a break.

[Aacosner]

If I accompanied the buyer to the buyer's bank and watched them generate a cashier's check, wouldn't that be zero risk even if I didn't deposit it in my bank for another day? Could someone please elaborate if there is even the slightest risk in this approach.

[Lancer]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.

When I sold my car I had the person bring a cashiers check drawn his bank. Fortunately it was Sun Trust. We went to the bank and verified the check was good.

[retiredguy123]

If I accompanied the buyer to the buyer's bank and watched them generate a cashier's check, wouldn't that be zero risk even if I didn't deposit it in my bank for another day? Could someone please elaborate if there is even the slightest risk in this approach.
Yes, if you receive a cashier's check directly from a bank, with your name on the check as the payee, the risk would be zero because the bank has set aside the money to cover the check. But, if you accept a cashier's check from an individual, the check could be counterfeit and worthless. That is why it is best to meet the buyer at his bank.

[brfree1411@aol.com]

Venmo & Zelle are immediate & directly from their bank to yours, it is free. Set it up in advance.

[Daddymac]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.

Get a check, Wait for it to clear, Give him the Golf Cart.:boom:

[retiredguy123]

Get a check, Wait for it to clear, Give him the Golf Cart.:boom:
Whenever I have cashed or deposited a personal check, the money is usually available immediately. But, I have never received a letter or written notice from the bank saying that the check has "cleared".

[Two Bills]

Could you please elaborate a little on this. I've had a paypal account for over two decades and have NEVER had a problem with them. Evidently there's something I don't know about....

It is the seller at risk with some transactions where postage is involved.
After buying, the buyer pays from a legitimate, PayPal account account for item and postage.
Kindly collects item from seller to save the seller having to post item, when seller notifies they have money in their account.
So far all fair and square.
A few days later, buyer submits a claim to PayPal that they have not received their goods.
Seller cannot provide proof of postage, or show proof of arrival because buyer collected.
PayPal insist all sellers have proof of postage and receipt.
Buyer refunded by PayPal under the buyers guarantee.
Seller is stiffed.
Don't think it would work for a golf cart sale though!

If you use PayPal correctly you can pay large sums with no problem.
Over last 20 years we have paid through them on three occasions for winter rentals in TV.
Mostly I use bank to bank payments. Easier and cheaper.

[pgettinger01]

I have a clean 2011 Yamaha gas cart in excellent condition for sale. The price is $4,999. This is the best you will find at this price.

[Nannyof3]

Cash

[Topspinmo]

On large amount money I go to my bank get bill of sale or title notarized, he hand the money to me, I hand it to my banker, they check it, count it, deposit it, and then we sing off on it. Then I pass the keys to the new owner. It they don’t want to do that, it’s no sale. I got burned when I was 18 on car sale, and 42 cars later not again.

[villageuser]

The Fraud dept of Bank of America told me never to accept cashier’s check since they are now being used fraudently, too. Of course, if you’re selling to a Villager, I would think you’re pretty safe, but what they suggested to me is that the seller and buyer meet at the seller’s bank and the buyer does a wire transfer into the seller’s account. Do have a signed bill of sale, stating VIN #, mileage, description, and name and address of both parties, and both parties should have a copy of it.

[mskaggs]

Zelle is a great service that many of the larger banks (Chase, Wells Fargo etc) provide. No fee to the receiver. The 'sender' of money has option to pay with cash from their bank or a credit card (fee for them if CC). Money is immediately deposited to your bank account. Done with a user name

Venmo (owned by Paypal) provides the same service, but once you receive the money, you have to click another button in the app to transfer to your bank account.

For a small fee on both ends, their bank could 'wire' the money to your bank. We did that when we sold our RV.

Also, I use Apple Pay!

[mskaggs]

No matter what system of payment you choose, surprise the buyer when you meet by asking to see his/her driver's license. Then you take a photo of it with your smart phone. If he/she disappears without buying it, you know it was a fraud.

Otherwise you are good to go.

Skip
That’s not necessarily true! I would have gladly produced my (out of state) drivers license (new here) when I went to look at a private sale cart. But after looking at it I decided to keep looking. I am not defrauding anyone, I am just taking my time to find the right cart for us!

[Phil D]

CASH and BILL OF SALE💸💸💸💸💸💸💸💸💵💵💵� ��💵💵

[Villages Kahuna]

Demand payment with a cashier’s check. That will assure you that the check will clear.

[Bleudeturquoise]

Make a copy of their driver's licence

[Bleudeturquoise]

License Oops!

[SKIMAN]

If they can write a personal check ,they can pay you in cash.. My thoughts.

[MrFlorida]

I just bought one, the buyer requested cash. I offered to get a cashiers check, they wanted cash, that's a lot of cash.....7k

[westernrider75]

Just curious, why meet at the bank?

[retiredguy123]

Just curious, why meet at the bank?
The bank can print a cashier's check that you know is not counterfeit. If you accept a cashier's check any other way, it could be a fake check.

[larcha]

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.

Here is an excellent article that may help. "How To Safely Sell Your Car"
www.edmunds.com/sell-car/sell-your-car-safely.html

[MollyJo]

Obviously, cash is always good.

But, another option is to meet at the buyer's bank and get a cashier's check with your name on it as the payee.

If you accept cash, have a marker(Amazon) to test each & every bill to avoid counterfeit bills.

[lindaelane]

Do I have a story for you!

There are scammers who monitor our ads. Two separate scammers tried to buy my golf cart. They offered to send a cashier's check. Suspiciously, they wanted to have the golf cart picked up by a service since they do not live here. I had my bank check out one of the cashier's check - sure enough, it was a forgery. So, this is a scam that is out there.

Cashier's checks can be forgeries. They can also have a stop payment put on them before you get them to your bank and have them clear.

Even if it is a big ticket item (1) Only sell to a local - hopefully someone with a history of posting here, not a "new poster" - who will come in person to pick up the cart. (2) Make it a cash transaction. Travel with them to their bank if they won't bring cash. Have that bank make out a cashier's check to you if you do not want to carry cash.

Really - the scams with cashier's checks are so common here that I think you will need to ask for cash and go to the trouble of going to the bank if someone does not want to bring you cash or you do not want to collect cash, give a hand written receipt and take it to you bank.

It is worth the trouble not to be scammed by a fake check, or a check that had a stop payment put on it.

[nauert]

I sold a motor home and had the Orlando buyer follow me to MY bank. I gave the cashier a stack of $$bills and said “put this in my account.” The bank machine counted and validated each bill. Seconds later she gave me a completed deposit slip. I didn’t have to check each bill for counterfeit.

[STLRAY]

One easy way to see if the cashiers check is a fake is to google the routing number (bottom left of the check). The fake checks usually have a fake routing number. Someone almost scammed my brother until I told him to text me a picture of the check. Within fifteen seconds I was able to confirm it was a fake.

[retiredguy123]

One easy way to see if the cashiers check is a fake is to google the routing number (bottom left of the check). The fake checks usually have a fake routing number. Someone almost scammed my brother until I told him to text me a picture of the check. Within fifteen seconds I was able to confirm it was a fake.
That is definitely not a foolproof method. Yes, a check that has the wrong routing number is probably a fake. But many, if not most, fake checks will have the correct routing number for the bank named on the check. Why would a good scammer use the wrong routing number?

[Timothyimitchell]

Silver