High dollar sales

[Cornholeo]

Getting ready to sell a high dollar item and wondering what is the preferred way to transfer money between individuals. I usually look at a person's profile to see how long they have been around and feedback. What is considered safe in your experience to receive money for a big transfer, say 7k range? Postal MO, cashiers check, PayPal or Zelle come to mind but have heard MO and cashiers checks can be fakes.
Any advice or experience would be appreciated!
TIA

 

[Downtown]

I've never done anything quite that high, but I've taken USPS money orders for a few thousand. Took them to the Post Office, cashed them, then shipped the item. My bank will hold MOs for a few days, but the Post Office can validate them immediately. I've used cashiers checks for large amounts, but not on the receiving end. How about direct bank transfer? I guess problem there is you'd have to give a routing number.

 

[Downtown]

I'm interested in the answers also. Scary as hell buying and selling expensive things between individuals.

 

[db2000]

Talk on the phone. Get pics with date and Hide handle. Mostly protects the buyer but if a USMO clears shouldn’t be an issue as the seller.

 

[Biggie1976]

Bank wire is how I’ve sold my past two vehicles that I owned out right. 14k. And 37k. Takes a few hours but worth it . Cost is usually less than 50 bucks

 

[SouthFork]

If you get a cashiers check from an individual. Call the bank it was issued. I am not talking about the number printed on the check. But Google the name.

Say you receive a Cashiers Check from Bank of America. Google the local branch it was issued. Phone number will pop up. Call that local branch. Explain the situation for verification. I purchased a trailer a few months ago. Gave the individual a cashiers check. They called the bank. All checked out. Title was signed over.

 

[THEIS]

Hi,

Wire transfer or have them do a 1 time ACH payment.

Sincerely,
Theis

 

[Biggie1976]

Hi,

Wire transfer or have them do a 1 time ACH payment.

Sincerely,
Theis

Not the first time I’ve agreed with this gentleman

 

[duane1969]

I would second the wire transfer..........best way to handle larger transaction amounts in my opinion.

Oh, and just for the record, you can issue a stop payment on a cashier's check. I found that out the hard way a few years ago.

 

[Blackcreek]

Cash
it's not that heavy carry some

 

[Maggot]

Hi,

Wire transfer or have them do a 1 time ACH payment.

Sincerely,
Theis

This, but have two accounts. The moment the money hits the first account move manually
it to the second. Then its done and no way they can access the first account and 'steal' the money back.

 

[Maggot]

Cash
it's not that heavy carry some

Comes back to this..."In God we trust. All others pay cash."

 

[Biggie1976]

This, but have two accounts. The moment the money hits the first account move manually
it to the second. Then its done and no way they can access the first account and 'steal' the money back.

Exactly what I did. Transferred it as soon as it hit

 

[MDof2]

Cash.
Bank Wire.
Escrow service.

 

[charnicus]

Probably Zelle or personal check. Wait obviously for the check to clear. Zelle is bank to bank and essentially a discreet wire transfer in the sense that nobody is sharing personal account info.

 

[Wizzer]

I am too old for all the new electronic stuff. Just had a good cash deal with a member here and a personal check deal on Accurate shooter. Postal money orders work for me but I deposit them in the bank 'cause I can't get one single sorry assed post office in the entire Metro Denver area to cash one of there own money orders, even one for $20! WTF!??

 

[kenny1773]

I asked on here earlier how someone might handle selling an old car
I actually have a motorcycle and car to sell as I am moving and don't want to bother with them

Just sold the motorcycle yesterday and took Venmo https://venmo.com
from the buyer, he seemed like a legit person, I had not used Venmo much, but my wife has
So we sent the $$$$ to her Venmo and she transferred to her bank, said it would take up to 3 days, will report back

I have also used Zelle - https://www.zellepay.com but that was between known parties with no risk

I am not sure if the Zelle service or the Venmo service have any sort of way for the payer to revoke the money
Hope I never find out

 

[Alphatreedog]

Put it in a paper bag . Go to the park 1pm Tuesday and place it in the bush near the entrance . No cops .

 

[308Gunner]

I have used and received a Certified check, but that was for 2 to 3000. Wire transfer for anything more than that.

 

[Sniperwannabee]

GunTab: "The PayPal for guns"

Gun-friendly payments by credit card and bank account, for businesses and individuals. Open an account now.

www.guntab.com

 

[jbuck88]

I would second the wire transfer..........best way to handle larger transaction amounts in my opinion.

Oh, and just for the record, you can issue a stop payment on a cashier's check. I found that out the hard way a few years ago.

Some banks do and some don't. It's best to Google and call the branch directly to ask about their policies. I have bought and sold a few things. Our local Post Office will validate USPS MO's for me. Their usually don't have the money to cash them, but if they validate them for me I will ship the item while my bank holds the funds for a few days.

 

[NiteQwill]

I've done multiple high dollar sales on here as a seller, one bring almost 7k. As the seller, I use Zelle or USPS MO.

 

[myronman3]

7k....face to face. period.

and like always, the FIRST reason they give me to not deal with them, i’m out.

i’ve made online arrangements to buy something more than 7k...and. traveled quite a ways to close the deal face to face.

 

[Nik H]

I bought my AXMC for $6.8K from a member here with only two posts despite being a member for a Looooong time.

Pick up the phone and have a conversation
Agree to the how you move money...wire is best as others have said
I made him send me copies of multiple IDs - DL and His old Military ID
He took the rifle and entered it at his FFL and my FFL verified it was there before money was wired. Once the FFL has it entered, it is not an easy path to saying I never received the funds so give me back my rifle.

Talking on the phone helps a lot and how reliable his comms are is also important.
The adage "Do what you say and say what you do" meant a lot to me.

Not sure what you are selling. There are other methods like escrow services that handle the whole affair. I have used them for selling or buying high end timepieces. Not sure they handle guns

 

[DOA]

I have sold high dollar items here and its been check or PayPal (F&F only). People have trusted me with their money and I have been in constant contact to avoid any issues.