How to sell for cash only

[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
Dennis

[lisantica]

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
Dennis

Maybe arrange to meet them at their bank.
A cash carrying buyer will come along though.

[DLDK]

That's a very good suggestion. This buyer was too far away but I'll keep that in mind.

Dennis

[Jon in AZ]

Originally Posted by DLDK

That's a very good suggestion. This buyer was too far away but I'll keep that in mind.

Dennis

There are quite a few large national banks with branches all over (Wells Fargo, Bank of America...). Worth asking, even if they live far away.

But as far as I can see, it's still a seller's market. You didn't lose a sale as much as they lost a trailer. There will be another, likely sooner for you than for them.

[lisantica]

Originally Posted by DLDK

That's a very good suggestion. This buyer was too far away but I'll keep that in mind.

Dennis

If the buyer has a bank that is nationwide that helps as you can just go to the local branch near you. Have the buyer verify this first that it is okay and that they have the cash in the bank.
Some banks like advanced notice of any withdrawal over 5-10K.

[David B.]

You both go to your bank and have the buyer have his bank do a transfer from their account into yours.
Best of luck.
Dave and Paula

[bsedwebt]

I like to meet at their bank too. It works well - Safe place, witnesses, etc.. I have done this a few times buying cars. My bank is usually not too far away and I am buying the item so they agree to meet there. We walk in - I write them a check on the spot in front of the clerk and they immediately cash it with me there. That way they know the money is real and I mean business. I do not trust checks of any kind any more and you have to have a keen eye to spot real bills too. PayPal is a possibility as well as escrow.com which I have used both as well with no problems when buying across country.

[DLDK]

All great ideas. Thank you all.

[Civilguy]

We went to our credit union with our buyer when we sold our Casita.

Our teller had visibility to the buyer's account at a different credit union and was able to tell us that their check was good; she credited the money to our account on the spot.

[Jon in AZ]

Yes, that works for some credit unions with shared branch agreements. It's not a given, though. It depends on which credit unions you each have a relationship with.

Ours used to have a local shared branch location, but it was terminated and we now have to drive 3 hours for any in-person business. Hated to do it, but convenience forced us into one of the big, bad megabanks (Wells Fargo).

[Iowa Dave]

I talked to two trailer owners one an airstream and the other a
Scamp who had both purchased very nice, lightly used trailers. One was from Texas and one from Wisconsin. Both related nearly identical purchase stories. Craigslist ad, called seller at 5 am and started out on a 200 mile drive, agreed to hold trailer till they got there. Trailer was perfect as advertised, had a roll of cash to cover asking price and did not bargain. Made deal and as they walked back to their vehicle, 4 and 6 prospective buyers were parked on the street and turned away. It can be done, just make it clear that that’s the deal if that’s the only way you feel comfortable. It won’t bother an earnest buyer. (with any personal confidence)
Iowa Dave

[bsedwebt]

You DO realize that the word SCAM is most of what word SCAMp is. - just a bit of funny for you...

[Iowa Dave]

When I was about 17 I learned that the peak of a wave was called the zenith and the low point the nadir. Years later I was working with a fellow who was hosting the 50th anniversary of the Chevy Corvair car rally in Cedar Rapids, Iowa.

After meeting with him one day, I walked him outside to his car, a restored Corvair. Vanity license plate “Nader” as a double entendre to the quality of manufacture of the car and the man who campaigned for those screwed by buying one. This guy loved the cars even for their faults and had 6 Corvairs at the time I worked with him.
Iowa Dave

[AC0GV]

Originally Posted by bsedwebt

You DO realize that the word SCAM is most of what word SCAMp is. - just a bit of funny for you...

Sorry to tell you nothing is fool proof. Person in my area (selling a boat) went to the bank with the buyer to get the cash, then when he deposited it at his bank one of the bills was called fake by his bank. (BTW, my sisters Scamp was titled as a SCAM by the state of Wisconsin.)

[Civilguy]

Originally Posted by Jon in AZ

Yes, that works for some credit unions with shared branch agreements. It's not a given, though. It depends on which credit unions you each have a relationship with.

It's all voodoo to me, but various financial institutions often have ways of communicating, so it's worth asking. We did something different with a Chase customer; the Chase teller issued the cashier's check in front of us, so that was pretty comfortable.

Chief among my interests is not handling a large wad of cash, other than when I'm in my money bin to toss it up and let it hit me on the head.

[Iowa Dave]

Originally Posted by Civilguy

It's all voodoo to me, but various financial institutions often have ways of communicating, so it's worth asking. We did something different with a Chase customer; the Chase teller issued the cashier's check in front of us, so that was pretty comfortable.

Chief among my interests is not handling a large wad of cash, other than when I'm in my money bin to toss it up and let it hit me on the head.

Ever make it rain? Me neither.
Iowa Dave

[RogerDat]

Only place I would accept a large cash payment would generally be at the bank or at the local sheriffs. Both have video cameras, the bank can verify currency is legit and deposited in my account. Very few criminals will walk into a sheriffs office to commit the crime on police surveillance video. Seems so much simpler than having wife hide in the trees with a laser pointer that she uses to keep a red dot on their chests to encourage honesty.

One needs to be aware that you bank will deposit a check without verifying the funds. Fake cashier checks are a common enough scam to be aware of. So sure I'll take a check or cashiers check but you won't get your goods until it clears. Give me a call in say three business days.

[Iowa Dave]

When the Craigslist thing got going it was somewhat common for an exchange to go bad when the meeting was in a business parking lot. So the next door city of Marion Iowa came out with this. Bring your stuff out to the main police station and tell the buyer you’ll be waiting inside. An officer will watch the transaction and check the bills for authenticity, or go out to the parking lot to view the exchange if it is a large item. Then the officer will wait for one of the two parties to drive away. Pretty nice service and I think it was popular, probably still is.
10:30 at night in a Walmart parking lot, not so much.
Iowa Dave

[Jack Walter]

When I sold one of my trailers we both had accounts at Wells Fargo so we met at the bank, he looked it over and then we went into the branch and did a direct transfer of funds into my account. It took about a half hour to complete the transaction.

[nancyrnfit]

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
Dennis

I carried cash to the houses of the two sellers, when I bought each of my Scamps.
They accepted it without issue, and both lived within about 2.5/3 hours.


The people who bought my Scamp lived 500 miles away, but sent a family member to check it out. When they were satisfied, they sent my asking price to my Paypal account, which I could check on the spot.



Meeting at a bank seems like a really good idea as well, so that the bank personnel can check out the buyer's account status.


The serious buyer won't balk at what they need to do to buy.


Good luck, and if your rig is in any decent shape, you will sell it soon!