Purchaser form of payments?

[CVue]

I curious what form of payment is the safest? Don't want to be carrying cash and do anyone think Facebook pay through messenger if buying a boat from fb marketplace is safe and better in case e you want to buy a boat on weekend when banks are closed?

 

[Texasmark]

Contact seller and arrange to have your bank make an electronic transfer to his account at his bank. Set it up so that the paper work is filled out, $20 fee paid and all that has to happen is the bank employee fill in the amount and punch the send button when you call them and close the deal. For something like $10k or less, just an envelope full of 100s.

I did buy a tractor from an estate sale and took my check book and a copy of my bank statement. No problem.

 

[roffey]

I'm thinking a bank draft. I purchased a property last year and payed cash, sort of. I went to the bank and they drew up a draft. The money goes out of my account and into a bank account. Only the person named on the draft can cash it and if the deal goes south you just take the draft back to the bank and the process is reversed, with charges, lol. The bank has to make money on the deal.....

 

[CVue]

Contact seller and arrange to have your bank make an electronic transfer to his account at his bank. Set it up so that the paper work is filled out, $20 fee paid and all that has to happen is the bank employee fill in the amount and punch the send button when you call them and close the deal. For something like $10k or less, just an envelope full of 100s.

I did buy a tractor from an estate sale and took my check book and a copy of my bank statement. No problem.

Well I see 7k or less boats I like but during those times I don't have the cash in hand and would like to buy during weekend when bank is closed. Facebook messenger pay is basically transferring bank acct to their bank acct.

 

[JASinIL2006]

Paypal? Venmo?

 

[roscoe]

Getting a seller to use a non traditional form of payment is going to be tough for a sum that large.

I know nothing about faceplant fake banking, or the vulnerabilities it may have.
I doubt many people do.
Who uses faceplant ?

There was a time you could accept money on Paypal, but no more, as the buyer can file a complaint and have the transaction reversed.
Then they get their money back and they have your boat.

Whats wrong with putting a down payment on the boat and finalizing the deal at a later date?

Many police departments promote closing the deal at a police station, or inside the buyers bank,
you get the $$$ and can have it wired to your bank, or buy a prepaid credit card or a debit card, so you don't have to carry the cash.

 

[crazy charlie]

Cash is best for both parties if you are 100% sure on the purchase.A seller will take you much more seriously and prob will make you a better deal.Cash is STILL king

 

[roffey]

I've done cash deals for cars and boats... your spread out 1k on the table and it looks like a lot of cash...

 

[ahicks]

I'd go up to 10k in cash. Hundred dollar bills aren't that hard to count in that amount, but any more and I think both parties would agree getting the banks involved would be the better plan.

As far as buying over the weekend, that's tough, especially for a seller getting a lot of phone calls on something he's selling. Personally, I would want a substantial (20-30%), non refundable down payment, with the balance paid and item picked up within days, not weeks.

 

[lemonaNN]

There are special people guarantors for the like. This method has its pros and cons, but this method is very rare.