[s-cars] Out of town buyer.

[Scott Justusson]

Why the Drivers License number?  I've never asked for one as a Seller, and would never provide one as a Buyer.  AFAIK there isn't a single state in the Union that requires it either.  If you are really looking for some sort of ID type of 'security' have the Bill of Sale Notarized at your (Seller) Bank. 

The cutoff for wire through the Fed is 3pm Eastern Time Zone.  IME, that means you have until 1pm as a Buyer.  After that, you take your chances for same day funds.  Many Banks will delay account credit of Wire Funds for a couple days, btst.  Both Buyer and Seller should know beforehand exactly what information is needed to Wire, because all financial institutions have different policies and routing information.  It's not just a world of ABA and account number.  Just BTDT with a returned wire, *after* I spoke to the Sellers Lienholder directly, while holding their wire instruction sheet.

As/representing the Seller, I would never take nor expect to give a Cashier's check, MO, or personal check.  If you feel it's ok to do so, best do the Sale at your Bank.  Remember, if a car Buyer is a scam, and they made it to the point where you are ready to sign over Title, you are not smart enough to stop it with a DL# or a Cashier's Check-verification.

The best thing is, 90+% of vehicle transactions are legit.  IME, that's the best thing going for any private party sale.  And please Sellers, all Bills of Sale aren't worth anything if they don't include 2 items:  Selling Price and "As Is" condition.

Cheers

Scott J


 

 

 

-----Original Message-----
From: Bruce Mendel <brucem105 at comcast.net>
To: s-car-list <s-car-list at audifans.com>
Sent: Sun, Jul 28, 2013 11:27 pm
Subject: Re: [s-cars] Out of town buyer.


Best method is get all buyer info, DL#, and verify he has valid 
insurance on the car for the day he wants to come pickit up.

Have him arrange with his bank in advance to wire you the funds. Then he 
comes to see car, and if he likes it he calls his bank and authorizes 
the wire to be sent to you with whatever person he originally made the 
arrangements.

Assuming that call is made before noon, and time-zone dependent, you 
should see clear funds in your account approximately 3 hours later.

Then you give him car, title, bill of sale, and (assuming he has some 
way of arranging for a license plate) he leaves.

Bruce
On 7/29/2013 12:13 AM, Neil Poillon wrote:
>
> You can call the bank to verify the authenticity of a cashier's chec and that 
it was "purchased with good funds".
>
> Get their ID and write it on the check.
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