Private sale question...

[Miks]

This is the ONLY way to go. Safe, and if the deal doesn't work out, you can take the bank check back and put the cash back into your pocket. Since the check is made out ONLY to the seller, you have a little security from someone else getting it. A money order is similar, but a certified check is the way to go.

What it tells the seller is that a bank is "guarantee funds", so the comfort level is there. The bank takes on the burden of the money being there, in contrast to a personal check that is only paper and doesn't mean the money is necessarily in the account.

[Steve 0080]

Sold my Rune thru Ebay...guy put the money into my account, I emailed him a bill of sale and sent the bill of sale and the title, certified over night mail to a shipping firm in VA... truck picked up bike the next day..... money first !

[Old Ryder]

Check with your bank to see if they have a location near the bike. You can do the paperwork local and have the bank near the bike cut the guy a check on site.

[Dave Ritsema]

I recently sold my F6B and had many of your concerns. My bank told me that a certified check can be faked and was as much risk as any other transaction. Their suggestion was a bank to bank transfer at the time of the transaction. Check head of time if your individual lending institutions are compatible regarding instant transfer of funds.

In my case the buyer and I couldn't get together during banking hours so he brought cash. We took pictures of each others drivers licenses and had a notary certify the bill of sale. The transaction went smoothly. Hope your situation is the same!

[06Blackpearl]

I took a bank check to a sale 3 states away and his bank called to verify funds and it was approved on the spot. Just make sure you meet someplace safe and during banking hours (week day) don't let that check leave your hand without a receipt and all paperwork in place, banks also have a notary on staff for the legal stuff. You can also print off a "bill of sale" on the net and just fill in the blanks when you get there. I would not go with cash, if a nut would rob a bank he would have no problem robbing you in their parking lot!

Thanks for the info...

I've purchased many a bike via ebay over the years with great success. One tactic that I used to ensure legitimacy of any transaction is to request a copy of seller's drivers license, and copies of all relevant vehicle documentation (title, lien release, etc). After having developed rapport with the seller and agreeing to terms/commitment to purchase, you should be in a comfortable position to ask for this information. Following this on the front end of the deal should provide some "peace" as you fully complete the transaction. Best of luck!

Will be doing this..

This is the ONLY way to go. Safe, and if the deal doesn't work out, you can take the bank check back and put the cash back into your pocket. Since the check is made out ONLY to the seller, you have a little security from someone else getting it. A money order is similar, but a certified check is the way to go.

What it tells the seller is that a bank is "guarantee funds", so the comfort level is there. The bank takes on the burden of the money being there, in contrast to a personal check that is only paper and doesn't mean the money is necessarily in the account.

The check is from the bank (loan) so I will ask what type of check or if it can be a certified check.. They already told me it will be wet turn to the seller upon approval..

I recently sold my F6B and had many of your concerns. My bank told me that a certified check can be faked and was as much risk as any other transaction. Their suggestion was a bank to bank transfer at the time of the transaction. Check head of time if your individual lending institutions are compatible regarding instant transfer of funds.

In my case the buyer and I couldn't get together during banking hours so he brought cash. We took pictures of each others drivers licenses and had a notary certify the bill of sale. The transaction went smoothly. Hope your situation is the same!

The seller and I talked about this so this may be an option.. I'm dealing with a credit union and he stated he has one also.. So that may work out for both of us..



Thanks for the info guys.....