Selling Big Ticket Items

[cmhbob]

So we've got an RV for sale, asking 32,500 now.

I've never tried to sell something in that price range before. What are the best practices? I'm thinking at the moment that cash is king, but I really don't expect someone in Muskogee to walk in with that much cash. So failing that, what? A certified check or money order, and I hold the title until the funds clear?

 

[twotonevert]

I am so paranoid about scams, not sure a check or money order would be ok because those can be forgeries too. If it were me, have the buyer meet you at the bank to handle the transaction. At least that way you have record of it, the bank gets the check, and you have him on camera.

 

[B96brig4CC]

I would say cashiers check or bank certified check.

I just sold a car for 10k and they paid in cash. That was the most cash I have ever had to count. I would hate to count out 32k

 

[Lurker66]

I would say cashiers check or bank certified check.

I just sold a car for 10k and they paid in cash. That was the most cash I have ever had to count. I would hate to count out 32k

id love to count 32g in cash.

Most people will get a loan through a bank for that price. If ya sell it, i bet you'll be dealing with a bank.

OTH if they have cash, id do the transaction at the my bank.

 

[Okie4570]

id love to count 32g in cash.

Most people will get a loan through a bank for that price. If ya sell it, i bet you'll be dealing with a bank.

OTH if they have cash, id do the transaction at the my bank.

Agreed, I'd do any transaction like this at my bank, where it could be verified at that time.

 

[cmhbob]

We're with USAA. I'm not driving to San Antonio. But I bet meeting them at their bank would work. In fact, that way, I could just set up a wire transfer from their account to ours.

Good advice; thanks. Keep the ideas coming.

 

[XD-9Guy]

Meeting at the bank is definitely a good way to go but be wary of wiring the money, wires are far more expensive than a certified check at most banking facilities. Another nice thing about a bank is that they will often times have a notary onsite that can notarize your signature on the title after you get your check.

 

[Electrician Mike]

The bank wire I just received from selling a vehicle only cost $12.50 thru IBC bank. I also had them set me up a temporary savings account to wire the funds into. This way I dont have to worry about the other person having my account information. As soon as the funds hit my temp account, I went in and withdrew the funds and closed the account. With this being a savings account, I didnt have to worry about them trying to forge a check off of that account either. Yep, I dont trust people these days.

 

[71buickfreak]

If you use a credit union and they use a credit union, you can transfer the funds for free. Just one more benefit of a credit union.

ANother option is a cashiers check, those are just about foolproof.