How to sell it safely
Thread Starter
Pro
Joined: Oct 2004
Posts: 667
Likes: 10
From: New York
How to sell it safely
I'm in the process of selling my Vette. I owe the bank most of it, will it be wise to have the buyer send a certified check to the bank and give me the difference also in a certified check. What would be the best way to sell it with out getting BURNT? The Title has to clear if you were the buyer would you send your money out to a stranger How can this work for both parties. Thank you for all of your suggestion in advance
Race Director
Joined: Jul 2004
Posts: 16,795
Likes: 62
From: Lake Havasu City, AZ
It is always a challenge.
A friend jsut got burned on a scam that actualy had funds wired to an escrow company... It appears either the escrow company was a scam or the scammers had some way to get the funds out.
I would talk to your bank and ask them how they would recommend handling it.
I have seen checks made out to the bank, the title signed over by the seller to the buyer and a notarized direction from the seller to the bank instructing them to remove the lien and turn the clean title over to the buyer upon clearing of the funds.
A friend jsut got burned on a scam that actualy had funds wired to an escrow company... It appears either the escrow company was a scam or the scammers had some way to get the funds out.
I would talk to your bank and ask them how they would recommend handling it.
I have seen checks made out to the bank, the title signed over by the seller to the buyer and a notarized direction from the seller to the bank instructing them to remove the lien and turn the clean title over to the buyer upon clearing of the funds.
Melting Slicks
Joined: Sep 2006
Posts: 2,041
Likes: 4
From: Rockford Illinois
Myself personally, I would have the party that is purchasing the car to send a cashiers check, they would have to wait until the check clears to take delivery. Or even have them Paypal you the amount.
