I need to sell a relatively high ticket item, it’s a camping trailer, but a car would be much the same. How do you structure the transaction to protect yourself?
I had always thought you retain the pink slip until the check clears, and you cash the check at the persons bank, and get cash, so that happens quickly. Is $3-5K too much to expect the buyer to bring cash for?
How do you do this transaction safely?
Given the amount of fraud being practiced, requesting cash isn’t at all unreasonable.
Absolutly not unreasonable. One of 3 things will happen.
The buyer has the cash in the account and will withdraw it.
Buyer gets the money on loan from his bank, you still get cash.
Buyer gets loan and bank sends money to you.( Very unlikely)
I agree with all the fraud, even a Cahier’s check could be iffy. Insist on cash in hand before the camper is let out of the driveway.