Buying off CL and the buyer wants cash

[EddieWalker]

Anyone here on TBN actually see firsthand a counterfeit Franklin or Jackson in the past 20y?

No, but back in the 90's the vending guy where I used to work was pretty upset when he found xerox copies of one dollar bills with green marker pen over them that worked to get candy out of the machine.

 

[radios1]

I'm talking about something your interested in off CL or FB Marketplace that's maybe 150+ miles away and they want cash. We'll say an asking price of $10K+ I've been looking into replacing my camper with a used one and dealers around here have nothing I want.
I have been telling the sellers up front that I'm not carrying that kind of cash to meet a stranger. There's also a possibility of legal issues if any have seen the YT video from a lawyer. The rules here want us to avoid legal discussion so I will leave it at that. So far all have been unprepared for me asking that question but have entertained the alternatives. One kid said he would accept a cashiers check. Another would take a personal check after I suggested we draw up a bill of sale and they hold title and camper until it clears their bank. The most recent one was he suggested a bank transfer which I'm cool with since my CU charges a nominal fee and I could take trailer home that day since it was over 300 miles away. If a seller said pound sand, that's their choice. The one kid that wanted a cashiers check (surprised me) was because we would have to go to the bank to pay off his loan and get the title. I'm curious how others approach this.

wait a minute now!. WHAT is a KID doing with being able to sell a camper?. deal with the PARENTS, who are ADULTS!!.. the liability and trustworthiness of a KID is greatly smaller!.. don't deal with KIDS!!..

 

[caver]

wait a minute now!. WHAT is a KID doing with being able to sell a camper?. deal with the PARENTS, who are ADULTS!!.. the liability and trustworthiness of a KID is greatly smaller!.. don't deal with KIDS!!..

Facebook Marketplace and he looked way younger than me = kid.

 

[dfkrug]

No, but back in the 90's the vending guy where I used to work was pretty upset when he found xerox copies of one dollar bills with green marker pen over them that worked to get candy out of the machine.

Funny. And Eddie, read RUFFDOG's links above. Counterfeit bills were noted to have Chinese characters on the reverse side.

Sometimes you can't save folks from themselves.....

 

[SirMaxwell]

...If someone wants to buy from or sell to me off a CL ad, and insists on some sort of escrow or going to a bank, police station, etc, I am not interested. I am sure I share that opinion with most buyers and sellers. If you can afford to be that restrictive, eliminating perhaps 90-99% of customers, then you will have a tough time completing deals...

And this is what makes the world go round. I see the same position exactly reverse. As I have mentioned I have had many deals over 2K and multiple deals in the 10-15K range, all via escrow. That includes from a dealers lot. A couple of times the seller has expressed concern, to which I said feel free to do your own research, call when you decide. Only once have I NOT made the deal, due to seller not wishing to use a service. I consider that to be dodging a bullet.

 

[morris lipham]

I drove from western Iowa to Indianapolis to buy a piece of woodworking equipment. I took $700 cash and was stunned when I handed him the envelope and he just put it in his pocket. I told him I would feel better if he counted it. He did, but it really surprised me. Granted we were both members on an old woodworking machine site and it is a pretty close knit community. But for $700 I am going to verify.

Doug in SW IA

I bought a zero turn mower from an estate sale for $3800, I handed 38 100 dollar bills to him with a rubber band around them. He just stuck them in his pocket and said " I'm sure you already counted it several times". I always count money no matter what.

 

[aczlan]

I bought a zero turn mower from an estate sale for $3800, I handed 38 100 dollar bills to him with a rubber band around them. He just stuck them in his pocket and said " I'm sure you already counted it several times". I always count money no matter what.

I always count money as well. Had a 9 year old come buy a truck that we had for sale (not kidding, he and his Dad are going to make it into a mud truck, a good use for it given how much rust it has on it). He handed me a stack of 20s which matched the agreed upon price and off they went.

Aaron Z

 

[Jchonline]

I only do them in a public place. Small items, a coffee shop. Big items, a grocery store or busier parking lot. Always, always cash only.

 

[the old grind]

Postal money order is prepaid, difficult to fake, can be cashed at post office if not holding too many at once, what we use on gunbroker, and some banks will consider as cash (clear) on deposit. It's a little different for amounts >$1k, but can be done.

"Purchase limits:
The single Domestic money order maximum is $1,000.00 if sending within the United States.
For International money orders, the maximum amount varies by country, but cannot exceed $700.00.
Multiple money orders may be purchased during the same visit (no daily limit).
If you purchase more than $3,000.00 in money orders, you are required to complete a special form and produce acceptable ID."

 

[fishheadbob]

I've wondered about how to pay for a tractor too. If the seller owes on it, how do you know that they will pay off the balance? What happens if they do not pay off the balance? Can the bank repo it from you if they find out that you have it? Like if you take it in for service at the dealer, and the dealer runs the numbers, and it comes up as not being paid for?

If you buy and finance a tractor through Kubota, or Deere, or whoever. How do you go to make sure it's paid off when you take it home?

I like the idea of meeting at the bank and doing the transaction inside the bank, but if it's financed through Kubota, what bank do you meet at?

I bought a tractor from an FBI agent - guess that makes him a standup guy - who owed a bundle to New Holland Credit. He said to give him 2 checks totaling the agreed upon amount. One check to New Holland, and the other check to him. He eventually sent me the lien release from NH; when I traded that tractor the dealership didn't even want the release form.