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Old 02-18-2017, 05:55 PM   #1
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How best to secure funds in trailer sale

Hi Escape folks - we're going to be selling our wonderful Escape trailer next month and, as we've seen these can go fast, we're seeking advice on the best form of payment to safely secure the sale of the trailer. We'd love to be totally trusting but, short of asking for all cash, we'd also hate to let it go after receiving a personal check and then find it might bounce. Any advice from some of you wiser financial folks is much appreciated.
Thanks,
- King and Kathy Cushman
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Old 02-18-2017, 06:45 PM   #2
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Just hold onto the title until the funds clear and then send to the new owner.
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Old 02-18-2017, 06:48 PM   #3
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My bank told me they get a couple fake cashiers checks each month. I had our buyer bring cash and we went to the bank and completed the transaction there.

I also gave them a option to go to a branch of their bank and cut me a cashiers check there so I could see the bank cut it.

Unfortunately you have to be so cautious these days. Both buyer and seller.
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Old 02-18-2017, 07:04 PM   #4
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Direct transfer from their bank to your account.
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Old 02-18-2017, 07:05 PM   #5
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Originally Posted by Donna D. View Post
Direct transfer from their bank to your account.
Yuppers!
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Old 02-18-2017, 07:14 PM   #6
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Direct transfer from their bank to your account.
But that can put the buyer at risk and takes a day to clear still. You have to do something fair for both.

I hate selling things these days.
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Old 02-18-2017, 07:43 PM   #7
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But that can put the buyer at risk and takes a day to clear still. You have to do something fair for both.

I hate selling things these days.
Fair for both is to exchange the title and bill of sale at a branch of the sellers bank once the bank confirms the money has been deposited from the buyers account to the sellers account. Pretty simple and straightforward.

Took about 5 mins when I bought my Casita used.
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Old 02-18-2017, 07:53 PM   #8
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I have had good luck with a wire transfer, that was what my bank recommended.
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Old 02-18-2017, 07:59 PM   #9
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We go to the bank and have it wired from their account to ours. If it is same bank it is instantaneous. Cash I'll only take at our bank and they run it for counterfeit, lots of funny money floating around especially 100 dollar bills. You need a notary to do the title and bill of sale properly anyway, so no problem doing it all at our bank.
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Old 02-18-2017, 08:01 PM   #10
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But that can put the buyer at risk and takes a day to clear still. You have to do something fair for both.

I hate selling things these days.
I bought some cars this way. My banker was on the phone to their banker and when the teller said... all clear, money is deposited. We were done. Once everything was setup, took about 10 minutes.
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