long distance buyer

[wheels61]

how do you handle a buyer that is 1000 miles away. do they pay up front . he has offered to wire 1500 and the rest on delivery but i think thats too much risk on my part. should i have him wire to my bank and i can have the vp of the bank put his name on the title when the money clears.then its his. i don't have a lien on the boat but the title is at the bank. the banker is a good friend

 

[DAREDEVIL]

how do you handle a buyer that is 1000 miles away. do they pay up front . he has offered to wire 1500 and the rest on delivery but i think thats too much risk on my part. should i have him wire to my bank and i can have the vp of the bank put his name on the title when the money clears.then its his. i don't have a lien on the boat but the title is at the bank. the banker is a good friend

75% upfront wire,,,,then u keep the title and send the item.
After he got it and u got the other 25% u send him the title !!!

Other then that ,,he needs to come and getit with cash in hand.( brown paper bags do just fine too)

 

[Ratickle]

I handled mine through the bank with a broker in the area. Direct deposit into the insured brokers account from my account.

 

[LaughingCat]

Both replies are good. Don't let it go for $1500. Banks might allow an escrow account which can be released. But 75% up front is best. If the buyer doesn't want to prepay that much, tell him/her to buy something closer. Tell him you'd make your mom do the same thing. And you don't trust him/her more than your mother.

Alternative, tell him to get on a plane with a certified check and you can meet at the bank to authenticate.

 

[Dude! Sweet!]

Both replies are good. Don't let it go for $1500. Banks might allow an escrow account which can be released. But 75% up front is best. If the buyer doesn't want to prepay that much, tell him/her to buy something closer. Tell him you'd make your mom do the same thing. And you don't trust him/her more than your mother.

Alternative, tell him to get on a plane with a certified check and you can meet at the bank to authenticate.

Since when is 1000 miles long distance!? I wish I could buy about within a thousand miles of me... I've bought four boats long distance. The first I had someone local who helped out but relatively small money (NY to CA). The second, I came out with a certified check and left with the boat. Got the title when the check cleared (NE to CA). The thrid and fourth were weird deals. End of the day, I had a good rapport with the seller and we trusted each other enough to make the deal work without any real fail-safes (2x TN to CA).

Good luck!

 

[Sea-Dated]

Last one I bought did the deal on a weekday and had the bank wire the money while both party's were present. As soon as sellers bank confirmed the wire had come through, I was on the way home with the Cig.

 

[Sea-Dated]

When I sold the Fountain, I had a great repport with the buyer and just let our banks handle it. He wired the money and I Fed Exed the title to him then he came to get the boat a couple weeks later.

 

[Sean Stinson]

Alternative, tell him to get on a plane with a certified check and you can meet at the bank to authenticate.

This is the way!!!!!

 

[Chris]

I would never take a certified check. Too many fakes and the way the bank system works, you may not find out for days. Cash only. Or a wire transfer to my account. You can set it up in advance and call your banker to execute. Then your bank can confirm transfer. If he's buying it sight unseen, he shouldn't be that worried. Or he should contact a broker/agent to handle for him.

 

[Buoy]

When I bought my boat, (about 750 miles away), Sent out a bank check, and two weeks later showed up to pick it up with cash (green).
Seemed to be a satisfiable arrangement for us both.

I've also sold vehicles on E-bay, and wanted a down, and cash green when they showed up. Even got one of those bill checker pens that they use at the stores for anything over a $20. Couple a bucks at the local office supply store.

 

[35 Lightning]

Think of yourself as a dealer, they would not let their boat leave until they have the funds ,,it's just good business for both parties involved, we sell equipment everyday, nothing leaves until we are paid, your customer will understand.

 

[jayhawk261]

Getting the Super from Lake George to OK, I met the seller half way in Cincy. I had already given a small deposit and handed hiim a bank check on delivery. Everything worked out great.

 

[DonMan]

Ask that he wire you 100% up front. If he is not comfortable with that he isn`t serious about buying a boat. The survey will tell him what he needs to know about the boat`s condition. He did get a survey done, right ?

 

[MarylandMark]

Ask that he wire you 100% up front. If he is not comfortable with that he isn`t serious about buying a boat.

I'm not so sure about that or at least I'd never do that with a private seller. 100% after I'm 100% happy.

 

[Sean Stinson]

I would never take a certified check. Too many fakes and the way the bank system works, you may not find out for days. Cash only. Or a wire transfer to my account. You can set it up in advance and call your banker to execute. Then your bank can confirm transfer. If he's buying it sight unseen, he shouldn't be that worried. Or he should contact a broker/agent to handle for him.

Thats why you authenticate it from the bank!!!!

 

[DAREDEVIL]

Ask that he wire you 100% up front. If he is not comfortable with that he isn`t serious about buying a boat. The survey will tell him what he needs to know about the boat`s condition. He did get a survey done, right ?

How can u believe a survey ?????

Mine ,,costed me 80+K after a survey that said in overall good condition .

The survey is only as good as the surveyer since its written that there is NO guarantie in a survey !!!

 

[Chris]

Last time I tried, they told me the check could be refused and the funds debited from my account for as long as 120 days. Even a good check can be bad. A wire transfer can only be undone if the funds were transferred in error or fraudulently. And a bag full of cash is still a bag full of cash.

 

[Davidmnc]

Last time I tried, they told me the check could be refused and the funds debited from my account for as long as 120 days. Even a good check can be bad. A wire transfer can only be undone if the funds were transferred in error or fraudulently. And a bag full of cash is still a bag full of cash.

Could not have been said better! :sifone::sifone:

 

[Davidmnc]

But some times a bag full of cash is problematic in it self. Better be able to prove where it came from.

 

[Steamin Rice]

I just purchased a car that was about 1000 miles away from me from a private seller. I flew to the seller's city, then went to the bank with the seller and got a cashiers check for him while he watched so that he knew it was legit. After that, I drove the car to a shipping company and flew back home and waited for the car to show up.

If I was purchasing a boat that is worth much more than most cars, I would definitely take the time to finish the deal in person. Plane tickets are relatively cheap compared to the cost of a boat.