How to sell for cash only

[FlyGuy]

Another vote for a Credit Union. There is a service called "Shared Branch". If BOTH Credit Unions are Shared Branch members, credit union members can do just about anything at a shared branch that they could do at their home branch. There may be a few limitations so, BOTH parties should contact THEIR credit union to ensure that ALL rules are complied with. If a shared branch is dispensing cash, you can just have that branch transfer money electronically to YOUR credit union. That would avoid you accepting what might be "questionable" bills.

[thrifty bill]

Originally Posted by DLDK

How can I sell my Scamp for cash when people refuse to carry that much cash?

Just let the people that refuse to pay with cash, that they will go to the bottom of the list. A cash buyer gets priority. Someone really interested will come with cash.

[vintageracer]

People by nature follow the HERD and in just in case you have not HEARD in today's financial world the HERD does NOT USE CASH for payment of anything much less an expensive item such as a RV trailer.

Ever think that maybe just maybe all your buyer's might be BROKE and have to git a loan to buy your trailer? The bank is not giving them any CASH for a loan until they have some security (the Title listing them a lien holder) in their greedy little hands as an example.

Maybe the problem is YOU demanding CASH trying to avoid any payment method with a paper trail. A CASH ONLY payment requirement makes a lot of buyer's in today's world very suspicious of YOU the seller making them very suspicious of doing any business with YOU.

Ever think about that?

Maybe YOU have financial judgements against YOU that YOU are trying to avoid paying. Maybe YOU are ILLEGALLY selling the trailer on an OPEN TITLE. Maybe YOU are selling a STOLEN TRAILER. Maybe YOU are selling a trailer with No Title, a Lost title or Bill of Sale only. Maybe YOU have financed the trailer and have gone and obtained a Duplicate Title for your trailer that is in your name and figured out the Duplicate Title no longer shows the lien holder where you have the trailer financed and YOU are trying to SCAM THE BUYER by giving them a No Good Title to a trailer that is "Mortgaged Property". The above are issues Buyer's start to think about when trying to deal with a Seller who demands CASH ONLY for payment.

It works both ways!

LOT'S of reasons why buyer's TODAY no longer want to deal in CASH.

Of course you also have dishonest the BUYER'S that want their cake and eat it too by getting it all their way when it comes to buying the trailer and then wanting YOU the seller to help THEM the buyer commit sales tax fraud and screw the government out of their lawful sales tax and registration fees. Always remember the government does like any competition when it comes your money!

Is everybody Crooked in today's business world?

I am not specifically saying that YOU the seller are crooked or the problem in this situation however it is possible. The above issues I discussed and those discussed by others in previous posts are issues buyer's seriously think about when the seller demands a CASH ONLY PAYMENT for an expensive item.

[Iowa Dave]

My life is much more simple, No cash, no deal. Nothing personal, there will be another buyer along directly. That’s the way I was raised and if someone tells me cash only, I get the cash or I don’t buy. Many people out there have the discretionary resources to be cash buyers. Watch a few competitively priced fiberglass trailer advertisements, it won’t be long before you see “cash buyer”
And “I have cash in hand.” Money Talks. B.... S...... walks.
Iowa Dave

[Jann Todd]

Originally Posted by DLDK

How can I sell my Scamp for cash when people refuse to carry that much cash?

Any tips would be greatly appreciated. I just lost a sure sale because of that.

Thanks

One thing to be aware of is if the amount of cash is very large about $10,000 you may have to sign papers to deposit it. If a person wants that amount of cash they may have to sign papers to get it. Sometimes it takes quite a while to do that. We ran into that when we sold a house and had a check for $11,500 from the title company. We went to the title companies bank to cash the check and it took an hour to do it and a bunch of paperwork. Then our credit union wanted to know where all that cash came from also. This was in Colorado. A bank transfer in person would be real good. Cash can be stolen if someone knows you have it and you never know when a person is watching.

[Darwin Maring]

Simple:

Go to their bank and have them give you a bank certified check directly from the teller to you. Only then do you sign and give them the title.
Go to your bank and deposit the certified bank check.
Don't be coerced into doing it any other way. To late in the day, Bank is closed, Sunday or holiday.

[SMSample]

When we bought our Casita, we drove from Oklahoma to Colorado to see/purchase. We viewed Case on forestry land. We purchased in cash.
The last 10 or so vehicles we've purchased have all been in cash. It doesn't bother me to carry it. I leave it in my vehicle until the price is agreed upon and then go fetch it.
I've never had a problem buying or selling vehicles, trailers, etc with cash.

[Defenestrator]

I've used escrow.com for a private car sale before, which went pretty smoothly. They do charge a decently-large fee though, I think.

[Friz]

Then there's the problem of being pulled over by police, they find your cash, and confiscate it thinking it's drug money. Then you have to sue to get it back, losing a few thousand to a lawyer.

[SMSample]

Originally Posted by Friz

Then there's the problem of being pulled over by police, they find your cash, and confiscate it thinking it's drug money. Then you have to sue to get it back, losing a few thousand to a lawyer.

Then the question is, what were you doing to give law enforcement a reason to search your vehicle?

Besides, the first thing I would hand the officer is the drivers license followed by my conceal carry permit.

[thrifty bill]

Originally Posted by Friz

Then there's the problem of being pulled over by police, they find your cash, and confiscate it thinking it's drug money. Then you have to sue to get it back, losing a few thousand to a lawyer.

I've done it several times with a pile of cash locked in the glove compartment or the center console.

The fear of confiscation is over-blown in my experience. I rarely get pulled over. The few times I have, the vehicle has never been searched. I typically get a "receipt" from the stop, in the form of a ticket... License, registration, insurance.

Just don't tell the bank you are using the cash to buy something off Craigslist! The fraud department is put into action and at least with my bank, its very difficult to actually get the money. Best to say you are buying a vehicle from a family member. I made this mistake when I bought my truck.

FWIW, in the case of my truck, the seller was 85 years old and he was afraid of being scammed. The requirement for cash thinned out the competition (other buyers), so I ended up with a better deal.

[Iowa Dave]

The last time I was stopped was for a burned out headlight. License, registration, proof of insurance. In three minutes we were discussing changing a bearing in a Mercury outboard motor and in six or seven I was on my way home. Changed the bulb the next day, contacted the chief to compliment the behavior or the officer and assure my continued support. And I don’t even live in the town where it occurred. So my response is be reasonable, have your vehicle in good operating condition, don’t drive around smelling like a brewery, courtesy is contagious, let’s start that epidemic.
Iowa Dave

[Glenn Baglo]

Nobody on the Forum stopped for "driving while black"?

[Alex Adams]

Originally Posted by SMSample

Then the question is, what were you doing to give law enforcement a reason to search your vehicle?

Besides, the first thing I would hand the officer is the drivers license followed by my conceal carry permit.

Unfortunately, in some areas, you don't have to give a reason to be stopped and searched. It really depends upon where you are, the type of vehicle you are driving and what you look like. Illegal stops and confiscations have been documented plenty of times. I understand that my chances are very low compared to others due to how I look.

Back when I was younger, if you drove a VW bus with peace symbols showing you were pretty much guaranteed to be stopped at some point.

[Peta]

Recently used PayPal for a craigslist purchase; they do add on fees, so we just deducted half the fees from the purchase price and I paid the balance, thereby "sharing" the fee cost and completing an on the spot transaction, no running to the bank. Seller got an instant notification from PayPal and we were good to go. I don't use VenMo, but you could compare fees between the two.

[mszabo]

Originally Posted by Iowa Dave

My life is much more simple, No cash, no deal. Nothing personal, there will be another buyer along directly. That’s the way I was raised and if someone tells me cash only, I get the cash or I don’t buy. Many people out there have the discretionary resources to be cash buyers. Watch a few competitively priced fiberglass trailer advertisements, it won’t be long before you see “cash buyer”
And “I have cash in hand.” Money Talks. B.... S...... walks.
Iowa Dave

I’m with you Dave. I’m pulling the trailer home, when someone is asking how too pay for it!

[YSTP]

Exactly my thought!

[robert4546]

Trust me, cash is the way to go. I have purchased several Scamps over the years and the deal was always cash and 1st come 1st served, unless I had a significant cash deposit.
You will have no problem asking for cash. It's the only way to really protect yourself.

[Richard McGuire]

At the risk of asking a dumb question, I'm puzzled why anyone would want to deal in cash for such an expensive item other than to commit a crime or evade taxes. The post by Vintageracer put it in perspective for me.

Clearly there are big differences between U.S. and Canadian banking systems, and I'm puzzled by the descriptions above of banks that don't communicate with one another. Our five major banks are coast to coast with branches everywhere.

Normally I would use a bank certified cheque or would conduct the transaction at my bank or the other party's bank, ensuring there is a paper trail for the protection of both parties.

Is there a legitimate reason to use cash? I certainly wouldn't trust anyone who insisted on it. It smells of crime to me.

[mszabo]

Think I’d prefer a cashiers check drawn on a Nigerian bank.
Oh ya, made out for an extra $2k.
So, I can pay the transport company $1500. And keep the extra $500 for my troubles.

Now that’s the way I like to To do business.

So when you want Want too sell your 40 year old camper. That’s so dear to your heart. Call me, I’ll be glad to bring you a check.