How to manage payment for large ticket items for sale

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  #31  
Old 05-03-2021, 07:38 AM
taylor111947 taylor111947 is offline
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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.
  #32  
Old 05-03-2021, 07:43 AM
Quixote Quixote is offline
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Default Question on the subject.

Quote:
Originally Posted by RICH1 View Post
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....
  #33  
Old 05-03-2021, 07:50 AM
BettyInFL BettyInFL is offline
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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.
  #34  
Old 05-03-2021, 07:51 AM
hal195z hal195z is offline
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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.
  #35  
Old 05-03-2021, 08:00 AM
JayK! JayK! is offline
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Cash
  #36  
Old 05-03-2021, 08:00 AM
MandoMan MandoMan is offline
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Quote:
Originally Posted by RICH1 View Post
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.
  #37  
Old 05-03-2021, 08:11 AM
Tmcbryan Tmcbryan is offline
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Default Payment

If it is a check of any sort, get DL number and village id#. That way you can find them
  #38  
Old 05-03-2021, 08:17 AM
LeftyMike LeftyMike is offline
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Default Selling a 2018 Crown 48volt 2 pass. Golf Cart

Quote:
Originally Posted by JMintzer View Post
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
  #39  
Old 05-03-2021, 08:28 AM
genobambino genobambino is offline
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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
  #40  
Old 05-03-2021, 08:49 AM
Cranford61 Cranford61 is offline
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Quote:
Originally Posted by jojo View Post
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.
  #41  
Old 05-03-2021, 09:20 AM
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Skip Skip is offline
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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
  #42  
Old 05-03-2021, 09:23 AM
Greg Teeters Greg Teeters is offline
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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.
  #43  
Old 05-03-2021, 09:53 AM
Aacosner Aacosner is offline
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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.
  #44  
Old 05-03-2021, 10:08 AM
Lancer Lancer is offline
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Quote:
Originally Posted by jojo View Post
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.
  #45  
Old 05-03-2021, 10:22 AM
retiredguy123 retiredguy123 is offline
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Quote:
Originally Posted by Aacosner View Post
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.
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