selling tractor advice

[NH-Rob]

I have an offer on my 7510 and the guy is going to be coming up tomarow to check it out and bring it home. He is going to come with a certified bank check. My question is this a good way to go? Should I wait and make sure it clears before I send Kubota the pay off? I have never private sold anything that I still owed money on and never this much doe. I hope this all goes well because I will not have a tractor until I call the dealer and he gets the new one ready.
Thanks,
Rob

 

[Bird]

I'm certainly no financial expert, but I do know that in this day and age, even certified checks can be counterfeit. When I sold my tractor, I insisted on cash. If the buyer hadn't wanted to carry that kind of cash, I'd have gone with him to his bank to get it.

I also sold a boat a year or so ago and the buiyer came with some cash and a certified check, but then he went to the nearest branch of his own bank and came back with all cash.

 

[MarkV]

Rob call your bank and see what they suggest. Bird makes some good points. It is a shame we can't trust even bank checks these days.

MarkV

 

[newbury]

Obviously you can get shafted.
You have to look him in the eye and make the call.
If your real concerned you might call the bank it's drawn on.
A certified bank check is how I bought mine, but I was concerned about hidden damage etc. So far the only problem I've had with my B7610 is the dang transparent hydraulic fluid
The guy I bought from had to trust that I hadn't just printed them off.
Good luck.

 

[NH-Rob]

The guy sure sounds like the real deal. I don't think going to his bank is going to work where as he is traveling 4 hours to get here. He had to rent a trailer and is banking on the tractor being everything I say it is so there has to be trust both ways. I think I will call my bank in the morning and see what they think.
Thanks,
Rob

 

[Bird]

Rob, I think talking to your bank is a good idea, and maybe your buyer's bank is too far off to go visit However, if it happens to be one of the larger banks, they may have a branch near you. That was the case with the guy who bought my boat. He came from over 3 hours away and I'd never even heard of his bank, but found on the Internet that they had a branch near here.

As for the trust, yes, that's nice, but in my former profession I learned that the best con artists are the nicest folks you could ever hope to meet. I strongly suspect that your buyer is on the level and everything will be OK, but at least write down the license number of the vehicle he's driving.

 

[Farmwithjunk]

I've bought and sold used tractors for the past 40+ years as a way of suplimenting my income. Last count I'd moved 110 of 'em. Even "back in the day", I insisted on cash. It's been my finding that HONEST people don't mind having to make a deal honestly and by the sellers terms. It's the shady folks that always question the terms.

 

[Carl_NH]

Its quite easy to call the bank its drawn upon at the time of pick up - would only take a few minutes to validate the check is valid. Further to this do a bill of sale.

Draw up a bill of sale listing the contents, vin, hours/mileage, seller, buyer, both addresses and pertinent details - i have sold cars, and tractors in this manner and getting signed docs by both parties it is "as is where is" on the specific date and time of transfer with these details is important.

Example, you sell a older unit w/o a ROPS, the guy/gal goes rolls it over two weeks later - nuf said.

 

[NH-Rob]

carl nh,
You make a good point on the bill of sale I will make sure to do that.
Thanks,
Rob

 

[Harvey7]

I sold a truck one time and the cheque bounced, it's been cash ever since.

Harvey