Safest way to accept payment from a independent buyer????

Question

I am selling my motorcycle and have both an online ad and magazine ad (not e-bay). I've had a couple people call me from other states (one over 900 miles away) wanting to purchase my bike. That seems strange to be looking to purchase something so far away.

Anyway, in an effort to protect myself from con artists, what is the best way to conduct this transaction. I am used to trading in vehicles at a reputable dealership so I'm new to this. I realize that I sign the title and need to fill out a bill of sale and keep a copy for myself. Is it safe to accept a cashiers check? (I've heard of fraudulent cashiers checks and personal checks and that the bank can seize money from your account if you cash one) I know CASH is best but I have someone who wants to give me a check as down payment and pay the rest when he picks up the bike the following week. Does anyone have ACTUAL experience with this sort of thing and can give fact based advice so I can protect my own interests? Thanks!

Answer 1

try paypal

Answer 2

They can bring cash....period.

NEVER take a check cashiers check or anything that ain't cash.

Pay pal would be another good option but they can pull their money back.....get cash.

Answer 3

The best thing, it it's convenient for you, is to tell him you'll hold the bike until a certain date if he sends you a check for a small amount, say $50.00 or so.  But explain you want cash and that you won't cash or deposit the check.  Ask him to bring the full price in cash and you'll give him the check back when he picks up the bike.  This way, neither of you is really risking anything.  The check is just refundable earnest money.  If it's bad, it doesn't matter because you get the cash when he gets the bike.  The worst that can happen is that he doesn't pick up the bike.  So don't hold it long, just until the week-end or some date you both agree on, and explain to him that if he doesn't show up you're free to sell the bike to somebody else and to cash the check for your trouble.  Even if the check isn't any good you haven't lost much, just a few days.