What forms of payment would you take for a private sale of boat?

[harvey lee]

Cash,money order or cashiers check,thats it.Never have a problem.The honest guy wont have a problem doing it that way and you dont have to worry about a bad check.

[SomethingFishy*]

I has similar situation when selling a dog. Pure bred American Staffordshire Terrier that was also micro chipped. Guy came to look at it and said he'd take it, whipped out a check book, so I asked for his ID to make a copy of, he convieniently didn't have it so he said he come back later with cash. Never heard from him again.

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Either cash or BANK CHECK. The buyer knows that they are buying the boat and it is a cash deal so they either have the money or they don't. Personally if the amount were more than than a couple thousand I would ask for a check because I wouldn't want to have that kind of money laying around. A BANK CHECK is a check that is made out from the buyers Bank on the banks account not the buyers account payable to the seller.

A few years ago I was selling a snowmobile. A guy showed up looked at the sled and said he would take it with him. He tried to give me one of those credit card checks that come in the mail. I told him to come back with the cash or bank check. He never did.

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[FZ]

Five years ago I sold a laptop to a guy who gave me a check he said it was from his dad as a gift. The check was bounced and I called phone # on the check. The lady told me the check was stolen and I was fifth victim. …..$1K went to toilet.

Police did catch the guy, but items never got recovered

[MIDNIGHT777]

TSC,

I just sold a boat and advised the buyer that I would olny take cash or cashier's/money order check. Working in Law Enforcement I all to often see people become victims of fraud/check forgery. I also would make sure you positively identify the person buying the boat, or what ever you are selling. Simply ask to see a PICTURE driver's license or ID card. This way if for some reason the funds dont show up you know who to go after. Cash is the only 100% safe way, assuming it is not counterfeit

Good Luck Matt

[Pherris]

Cash or bank wire and on cash depending on the amount I may only take a bank wire or get one of those little brown markers that you see cashiers use when you hand them a $100 bill . These days cash,cashiers checks, certified bank checks, and money orders are all suspect. As mentioned earlier checks can bounce weeks after you have withdrawn funds and put you in a real pickle. With the advances of technology it is amazing at how easy it is to duplicate any of the mentioned financial instruments. Bank wires still seem to be the most secure. If you take any form of check or money order you should require 10 business days at a minimum and maybe even 15 days. This may sound crazy but you will never win an argument with a bank when they debit your account regardless of what the circumstances. I know this from experience when I had a branch manager of a major bank tell me that funds on a substantial six figure check had been collected and could be withdrawn from my account only to find out later that even though the funds were shown as collected they could still be bad and you will be left holding the bag. In my situation it was an elaborate fraud scheme but I was the one that lost the most.

[hondavxr]

I have a same story about selling a puppy also. A few years ago I sold some purebred American Pitbulls pups and one guy insisted that he paid with a check because he didn't have time to go to the back and get the greens. I took his check and ID and called the back to see if he had the funds. The bank said he did. But when I went to deposit the check, the guy took out his money so the check bounced. I called the bank again and ask if the account was active and they said still active. The nice teller gave me a little hint, she told me to call everyday until the person deposits some funds. When there are funds in the account I when striaght to his bank and cashed the check. Boy, was the guy mad when the funds withdrew. He wanted to returned the puppy and I said "no refunds". Lesson learned from this, ONLY CASH OR CASHIERS/MONEY ORDER.

[TSCTSC]

No...I have not been burnt....at least not that I know of. I did take a check for a boat sale long time ago. The check came through and I assumed that it was OK. I guess I was lucky. After hearing all these horror stories, I would be much more careful now.

[Ihateriversnags]

I just bought a boat and I asked him what form of payment he preferred. Didn't think much of it just considered it a courtesy to the guy. The deal went without a problem and it sure makes it easier to call afterward with questions about your new toy if the transaction goes well. Would be kind of awkward to call a guy and say "I just bought your boat with a bad check, by the way how the heck do you get the lights to work?" LOL

[AQUAJOE]

A coupon book for dances at the KOD.

[HaywardBound]

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A coupon book for dances at the KOD.

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My dad always told me lap dances are a bad investment.

Last year I bought my (used) boat from C.P. Marine. I asked the sales guy if they want cash or 'would a check be ok'? They said a check was fine.

Well, after purchase agreement signed, and payment made (check) I had to wait a few days for the boat to be 'cleaned up' and ready for delivery. I think they where waiting for my check to clear.

[Bubbadust]

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A coupon book for dances at the KOD.

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All these years and I didn't know they had coupon books! Sounds much easier than carrying stacks of $100's...

[MinnesotaMuskie]

My advice is either cashiers check or cash...if it is a personal check...make sure it clears...unless the buyer is an FM'er...they are all honest:)

[PierBridge]

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A coupon book for dances at the KOD.

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[cybermuskie]

Is this really that tough of question?

[BarryG]

Cash!!! or coins!!!!

[walleyehawk]

I have been involved in finance and credit for 20 years. A certified check is the only way I would go.

Have them meet you at the bank so you can verify it is not a bogus check-you would be surprised what some people can do with a printer. If they have to have a regular check, they do not get possession of the boat until the check has cleared. And many banks will certify a personal check for a fee. Or better yet, if you are at the bank, pay the $10 and get it converted to a certified check right there on the spot. Just keep possession of the boat until the bank verifies that the check has cleared. He who has control of the boat controls the transaction.

Talk to your local banker. If you are with the same lending institution, or they have your loan on the boat, they will work with you.

Just don't assume because the guy drives a nice vehicle, or dresses nice, that he is good for the money. Mistake!!

Another red flag is if they have a story why they have to have it now, but they are good for it. "Trust me, the check will clear" No matter how good the story, control the tranaction. I would run like heck from this deal.

Many said cash. I would not do that unless they met me at the bank. You are talking alot of money. You do not want to have that kind of money on your person. This could be a scam and the intent may be to harm you. You are placing yourself in danger carrying large sums of money.

Just use common sense and don't trust anyone but your mother(and only on Mothers Day)!!! An attorney may be able to collect it, but he may charge $200 an hour or 1/3 of the balance. And that gets expensive fast.

[IFallsRon]

I've sold two boats through this site. FMers pay cash.

[idratherbefishing]

Straight cash, homey!