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Old 02-29-2020, 12:08 AM   #1
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Best method for accepting payment

I may have my 1988 Bigfoot sold. I'm hoping I can get some advice on the best way to accept payment from the buyer. I know wire transfers and such are not the way to go. Cash seems to be the preferred method, but how do I know the bills aren't counterfeit? Do I hold onto the title until I can bring the money to the bank and have the bills checked? Or is there some other way to do this that's not so complicated? Thanks!
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Old 02-29-2020, 07:22 AM   #2
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Originally Posted by Ev in Oregon View Post
I may have my 1988 Bigfoot sold. I'm hoping I can get some advice on the best way to accept payment from the buyer. I know wire transfers and such are not the way to go. Cash seems to be the preferred method, but how do I know the bills aren't counterfeit? Do I hold onto the title until I can bring the money to the bank and have the bills checked? Or is there some other way to do this that's not so complicated? Thanks!
I had similar concerns with a sale. After consulting with local police and bank officials I too insisted on cash. My bank was willing to provide a small room for the closing and signing over the title. As we were meeting a teller processed the cash and assured me that it was legitimate so I had a deposit receipt in hand before handing over the title. The bank provided a setting both safe and secure for both parties.
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Old 02-29-2020, 09:30 AM   #3
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No exactly a trailer transaction but our local police departments announced that craigslist transfers of property and money are welcome at the local
Police station in their parking lot or in the lobby of their building. If you’re the buyer you can arrive a little early, Alert the desk person that the transaction is going to occur and you would appreciate some “eyes” on the transaction. People use this option often.
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Old 02-29-2020, 09:32 AM   #4
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Originally Posted by WDavidG View Post
I had similar concerns with a sale. After consulting with local police and bank officials I too insisted on cash. My bank was willing to provide a small room for the closing and signing over the title. As we were meeting a teller processed the cash and assured me that it was legitimate so I had a deposit receipt in hand before handing over the title. The bank provided a setting both safe and secure for both parties.

Thank you, David. That seems logical and safe for everyone involved. The potential buyer is coming to look today. My credit union is not open on Saturday, so I will have to figure out a work-around. I'm wondering if I have the "right" to hold on to the title until the cash is verified? Anyone have experience with that?
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Old 02-29-2020, 09:45 AM   #5
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You can buy the pen at places like staples that checks cash for being real and not counterfeit. Maybe these are not valid, don’t know, but we used them where I worked on 20’s 50s and 100s. Jot down the tow vehicle license # and vehicle description before they leave. Would help.
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Old 02-29-2020, 10:29 AM   #6
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Originally Posted by Ev in Oregon View Post
... I'm wondering if I have the "right" to hold on to the title until the cash is verified? Anyone have experience with that?
You have a "right" to hold the title if the buyer agrees to that. However, there is no way on God's green Earth that I would give you cash but let you keep the title. If the buyer does agree to that then he or she making a mistake (IMHO). Even if the seller is as honest as the day is long, titles get damaged, lost - sellers get sick or have accidents. Nope.. if I give you cash I'm getting the title.

If you consider this from the buyers point of view I think you will agree.

Cash is king. If you have some doubts, insist the meeting is rescheduled and held at a bank or credit union as described above.

By the way, here at least, titles need to be notarized to be transferred anyway.. so here, a bank is the logical place to get paid and give the notarized title to the buyer.
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Old 02-29-2020, 10:39 AM   #7
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You have a "right" to hold the title if the buyer agrees to that. However, there is no way on God's green Earth that I would give you cash but let you keep the title.

Cash seems to be a bit of a problem. Is there another way to receive payment that's not so cumbersome?
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Old 02-29-2020, 10:53 AM   #8
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At some point there is a certain amount of trust in play, personally if I showed up with cash and the seller didn't like it I'd walk away and be very offended. Whats to say you even own the property your selling the buyer is trusting you. There are scams true but very few show up in person, it would be reasonable to check a drivers license and note the plate beyond that just seems to much for something being sold as a work in progress.
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Old 02-29-2020, 10:54 AM   #9
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Originally Posted by Ev in Oregon View Post
Cash seems to be a bit of a problem. Is there another way to receive payment that's not so cumbersome?



There is paypal many use it.
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Old 02-29-2020, 10:58 AM   #10
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I have always preferred a certified bank check. It is a check written by a bank and the the individual. This is also how I usually pay for items rather than carry a large amount of cash. Good luck. Bert
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Old 02-29-2020, 11:03 AM   #11
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We purchased our Casita 4 years ago and bought it from the most honest of people but they did not know us and we did not know them. We drove to a bank branch with the seller and had them issue a cashier's check and notarize the paperwork for the sale. This would be my suggestion-done in a bank with notary and given a cashier's check that the bank issues so you know it is legitimate and cannot be reversed. If the buyer has cash, they can bring it to the bank for confirmation as well. I would be hesitant to take cash myself.
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Old 02-29-2020, 11:08 AM   #12
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Originally Posted by Daniel A. View Post
At some point there is a certain amount of trust in play, personally if I showed up with cash and the seller didn't like it I'd walk away and be very offended. Whats to say you even own the property your selling the buyer is trusting you. There are scams true but very few show up in person, it would be reasonable to check a drivers license and note the plate beyond that just seems to much for something being sold as a work in progress.

I'm a bit gun-shy after having my identity stolen a few years ago and my bank account wiped out. My normal faith in humanity was sorely tested, and it took 5+ years to clean things up. So, yeah, I'm a bit jaded after that experience, but still believe most folks are decent and honest. Just trying to be careful. I like the Pay Pal idea, didn't think of that. Thanks!
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Old 02-29-2020, 11:15 AM   #13
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E - Transfer

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Originally Posted by Ev in Oregon View Post
I may have my 1988 Bigfoot sold. I'm hoping I can get some advice on the best way to accept payment from the buyer. I know wire transfers and such are not the way to go. Cash seems to be the preferred method, but how do I know the bills aren't counterfeit? Do I hold onto the title until I can bring the money to the bank and have the bills checked? Or is there some other way to do this that's not so complicated? Thanks!
Have you checked with your credit union about E-Transfer . Money is taken strait from sellers bank account and placed strait into yours . I have used this method many times
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Old 02-29-2020, 12:53 PM   #14
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Originally Posted by Ev in Oregon View Post
Cash seems to be a bit of a problem. Is there another way to receive payment that's not so cumbersome?
In a Bank or other appropriate financial institution.. By that I mean both buyer and seller walk inside and are present, and conduct the transaction with the assistance of the bank employees. That has been suggested many times and is the best way to go.
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Old 02-29-2020, 01:17 PM   #15
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I appreciate all the good advice, folks! I like the idea of conducting the transaction in person, in my credit union, no wondering. I will let any interested parties know that that's my preference, and go from there. (If I was the buyer, that would be agreeable to me.)
BTW, the party who "absolutely" would be here this morning at 9:00 to "absolutely buy" the trailer, hasn't shown up yet. It's 11:15a. No call, no email. Gosh, who knew THIS would happen??
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Old 02-29-2020, 01:42 PM   #16
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Sorry Moderators I just can't resist with all Crap in the news these days.

It's TRUMP'S fault "your sure fire gonna buy it buyer's" did not show up!

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Remember "Drive Fast, Turn Heads, Break Hearts"!
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Old 02-29-2020, 02:07 PM   #17
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I would assume a cashierís check would be ideal. I like the idea of doing the transaction at the bank!
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Old 02-29-2020, 02:18 PM   #18
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There is paypal many use it.

One thing about paypal, if you are selling something there are fees:


"a fee of 2.9% of the transaction amount plus a fixed fee based on the currency."


You can get around that by saying that they are 'sending money to a friend' but then you are breaking Paypal's terms of service and the other party could try to reverse the payment.
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Old 02-29-2020, 02:22 PM   #19
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Originally Posted by Jlponnet View Post
I would assume a cashier’s check would be ideal....
Only ideal if you are sure it is legit. And therein is the problem, fake cashiers checks have become quite common...
Unfortunately, cashier’s checks are less safe than they used to be. If you don’t know and trust your buyer, you simply cannot assume that a cashier’s check is just as good as cash.

Source: https://www.thebalance.com/cashier-s-check-fraud-315795
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Old 02-29-2020, 02:55 PM   #20
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One thing about paypal, if you are selling something there are fees:

"a fee of 2.9% of the transaction amount plus a fixed fee based on the currency."

You can get around that by saying that they are 'sending money to a friend' but then you are breaking Paypal's terms of service and the other party could try to reverse the payment.

Good to know, no matter what you're selling. That could add up if you're getting into the big bucks. And, in the case of these beautiful FG creatures of ours, we all know how spendy that could get.
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