How do you tell if it's a scam or not?

[RonMar]

When he comes to pick up the trailer, and he is happy with looking over his new potential purchase and wants to do the deal, take him down to your bank and deposit the check. This will of course mean he needs to arrive during business hours. That is a lot of money, why not let the bank validate it. Once the bank accepts it as valid and deposits it in your account, hand over/sign over the trailer paperwork then go hook him up and send him on his way. That is a lot of money and a valuable trailer. An honest buyer Should have no problem with doing this. This is a business deal, Be firm. If he shows up too late to make the bank, tell him to come back during business hours. If they start making excuses about not being able, look for another buyer. If it is a good or reasonable deal, more will come.

 

[tillerkiller]

The caller ID I got does match the area code and prefix of the bank but not the exact phone number listed.

You can have any caller ID number show up that you want (different from the REAL number that you called from.)

There are websites that tell you how to do this.....

 

[Bird]

As far as the 10K IRS deal, just make two deposits, no problem.

True, but on the other hand, if you came by the money legitimately, why would you care if it's reported to the IRS. When I sold my last Kubota, I deposited $15k in cash, the bank teller reminded me that they had to report it, I told her that was fine, and she had a form to fill out for that purpose.

 

[k6dyc]

I agree, do the deal during business hours and verify the check.

Here's kind of a funny story, somewhat related... Back in 1999 we wanted to sell our 1996 Hummer H1 because we replaced it with a 1998 H1 with better engine and features (I was in the software business and this was before the bust!). We were living in Bakersfield, CA at the time and placed an ad in the LA Times. We got a call form a Chinese gentleman who lived and worked about 2 hours away on the coast in San Louis Obispo. He wanted it for use in his landscaping business and said he would like to drive over and take a look at it before he made a decision. We agreed to meet the next evening in the parking lot of a Red Lion Inn just off the freeway. So, here we are in the corner of the parking lot, two Hummers waiting for him to show up. We brought them both because he wanted to see the newer one as well. He arrives and the guy that was driving drops him off and drives away! He looks at the truck and then says OK he wants it and pulls out two paper bags from his coat. We open one of the doors to the truck and he begins counting out $35,000 in $20, $50, and $100 bills! I was waiting for a cop to drive by and take us in for drugs or something! There would have been some explaining to do for sure.

It all worked out fine, but the moral of the story is, cash will do in a pinch .

 

[KB9UDE]

I sold a tractor last year for 24K. The buyer drove up from several states away and brought me cash. That is what I asked for. We brought it all inside and I marked it with one of those money markers from a retail store, and all was good. A very good selling experience, but I got taken on a cashiers check that I accepted after delivering a tractor from IL to Georgia.

Be carefull!!

 

[Superduper]

150 X $100 bills is all it is. The stack aint nearly as huge as you would expect. And it really isn't all that much money nowadays. For me, I want cash, especially if it's an out of state buyer who is going to take the tractor when he hands you the payment.

As for a cashier's check, I got a story for you. My wife is a supervisor in a large retail establishment. Anyhow, it's a long story which I don't feel like working my arthritic fingers so I'll make it short. Her clerk asked for authorization to accept a huge $64,000 sale via cashier's check. The cashier's check was drawn on a local bank Washington Mutual from a business account, and the business phone number was called and everything looked good. My wife authorized it. Turned out the business phone was a disposable cell phone and the check was a good forgery. Today's laser printers are capable of printing out very authentic looking checks. My wife was charged with the loss and they were going to garnish her earnings for the rest of her career. Through a long and laborous grievance process, we got it overturned as the same scammers had hit other local branches using the exact same scam and turns out the manager was aware of the scam but didn't bother to filter it down to the supervisors. We of course believe that the supervisors decisions are only as good as the information provided to them. Anyhow, that period was a very stressful time for us and we have learned that we would rather lose a $64,000 sale than to get scammed and pay for that mistake for the remainder of our working years.

I suggest that if you decide to accept any form of payment other than cash, you allow the bank to clear the payment before releasing the merchandise, or find someone else willing to pay cash or wait.

 

[Superduper]

...... take him down to your bank and deposit the check. ..........That is a lot of money, why not let the bank validate it. Once the bank accepts it as valid and deposits it in your account, hand over/sign over the trailer paperwork then go hook him up and send him on his way. ...............

See my previous post. The bank accepted the payment (it looked authentic to them too.) We were not notified that the payment was indeed fake until 10 days later. The fact that the bank teller accepted the check does not mean they will honor it when it turns out to be false. And, they are not the one that released the merchandise. BTW, my wife found out about the scam after a conversation with a co-worker from another branch who warned her (too late about it). My wife got concerned because the MO was eerily similar to the sale she authorized so she called company security and reported it to authorities but all we could do was wait until the bank confirmed it was bogus. Take cash, man, and you won't go wrong.

 

[Harvster]

Your gut told you something was wrong before you posted this. Go with that. Lots of good ideas here that an honest buyer would have no trouble capitulating to.

A note of caution: If they can make a fake cashiers check, an out of state driver's license etc. might not be too hard either.

 

[Bob_Skurka]

Cashiers Checks are easier to fake than money! We've been burned a couple of times by them.

All the cautionary advise given so far has been good. Follow it.

 

[NewToy]

True, but on the other hand, if you came by the money legitimately, why would you care if it's reported to the IRS. When I sold my last Kubota, I deposited $15k in cash, the bank teller reminded me that they had to report it, I told her that was fine, and she had a form to fill out for that purpose.

Why get yourself on the radar? I don't feel it's the Government's business if I sell a car I already paid taxes on. To each his own. No conspiracy here, just am not a big fan of the what I feel is an invasion of privacy. I choose to exercise my LEGAL option of depositing MY money as I see fit.

John