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Old 04-10-2021, 10:43 AM   #1
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Downsizing to B and Need to Sell class A

I thought I would start in this forum. I'm looking for resources to help us sell our class A motorhome to move to a class B.

For those of you who have done so if you can point Laurie and I to resources that were helpful to you it would be appreciated.

Feel free to PM me if posting those resource links would not be appropriate in this forum.

If there is a more appropriate forum I should use to post this question please let me know that as well.

I have reached out to a large RV dealer in our area (SF Bay area) to learn about their consignment program. I'm also working to understand both depreciation and current market conditions.

Thank!

Bill & Laurie
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Old 04-10-2021, 11:22 PM   #2
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I sold my class A and downsized to a class B+.

I used craigslist to advertise my class A and sold it in under 2 weeks, put in your add cash only and take cash only.

Also sell at a good price and it will move fast, don't ask retail, under cut the price, its better than having a company do the sell and take a commission off the top..

You can also sell it in RV Trader but give craigslist 2 to 3 weeks 1st before selling in other areas..

I have always done good with craigslist, avoid the scammers and take CASH ONLY..
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Old 04-11-2021, 07:07 AM   #3
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Given a value of 60-70K for the Monaco, taking cash only seems ... unwise. I certainly wouldn't want to be carrying around that much cash and having a stranger know that I'm carrying around that much cash! Direct EFT - transferring money from one bank account directly to another - is fast, secure, and can be verified by simply logging into your bank account. IME, the bank will show the transfer immediately, but will hold the funds for a week or so while they run it through security checks.
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Old 04-11-2021, 11:04 AM   #4
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Given a value of 60-70K for the Monaco, taking cash only seems ... unwise. I certainly wouldn't want to be carrying around that much cash and having a stranger know that I'm carrying around that much cash! Direct EFT - transferring money from one bank account directly to another - is fast, secure, and can be verified by simply logging into your bank account. IME, the bank will show the transfer immediately, but will hold the funds for a week or so while they run it through security checks.
.
I agree about the large sums of cash. I have sold many auto parts and lower priced vehicles (under $10k) for cash via Craigslist. But I'm considering selling my RV as well and it would be in the $70k range. I'm thinking EFT as well. But I'm wondering about the part where the bank runs it through security checks. As soon as my bank account would show the correct amount, I'm assuming the title would be signed over to the new owner and they could take it away. What would happen if the security check came back bad ?
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Old 04-11-2021, 01:05 PM   #5
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I got $46,000 cash for my motorhome, the sale was done on a Sunday they drove in from another state and refused a check or even a money order so they brought the cash with them.

What also can be done is meeting at your bank to do the sale, I did that once with a travel trailer some years back.
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Old 04-11-2021, 04:23 PM   #6
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But I'm wondering about the part where the bank runs it through security checks. As soon as my bank account would show the correct amount, I'm assuming the title would be signed over to the new owner and they could take it away. What would happen if the security check came back bad ?
Yes, you would sign over the title immediately. The bank won't let the transfer register in the first place if the buyer doesn't have the funds in their account. I don't really know what the bank is checking for (money laundering?) or what happens if they find something they don't like.

The suggestion to meet at the bank is good for another reason: signing over the title has to notarized.
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Old 04-11-2021, 04:24 PM   #7
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I have used wire transfer from bank to bank.
When I inquired at our credit union they recommended it and indicated it won't/ can't be reversed under any normal circumstances and would require a federal intervention to reverse it.
Some object to providing bank routing & account # to set it up but the info is no different than what is printed on any check you issue.
I would not trust "cashiers" or "certified" checks these days as they can be dummies up and will be reversed if not good plus you will be charged a bad check fee and be out the MH.
I listed on RVT, RVTrader, iRV2 classifieds and Craigslist. You will never be able to predict where the buyer will come from so spread the work as far as possible. I forget which but I only paid for one ad but don't recall if it was RVT or RV Trader. Check as one has a free as well as paid listing option. Free has some limitations but worth a try.
Be ready for calls from other listing / selling services - I just said no not for now but they can be persistent claiming they have interested buyers ready, etc.
Its a sellers market right now just price it right, clean it up thoroughly inside & out, stage it and take good photos, inside outside & storage, edit & retake photos and do a good job of writing & editing an ad.
Good luck
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Old 04-11-2021, 04:48 PM   #8
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.I'm thinking EFT as well. But I'm wondering about the part where the bank runs it through security checks. As soon as my bank account would show the correct amount, I'm assuming the title would be signed over to the new owner and they could take it away. What would happen if the security check came back bad ?
When I bought my van at MHSRV, they wanted I think two days notice of the wire transfer details from my bank. I assumed it was for the security check. Funds were wired when I was there to pick it up, but it took a while until I got the title, presumably because it was a consignment rather than being owned by the dealer. I wasnít happy about that delay, but being a huge dealer thatís been around a while, I figured it would work out eventually, which it did.

If I ever sold it privately, I would accept an EFT only, from the buyerís bank to my bank. Not negotiable.
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Old 04-11-2021, 04:55 PM   #9
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First off depositing $10,000 or more into you bank account WILL result is a Cash Transaction Report (CTR) to the Feds. This will not be a problem as you can explain where the money came from. What will get you in trouble is making several deposits of under $10,000 so the CTR doesn't get made. This is called structuring and is a felony. Don't do it!! I am currently in the process of purchasing a coach for over $100,000. Since the seller didn't want me to know how much money they owed on the coach we used an attorney as an escrow agent, and yes I did check his his credentials. The easiest and cheapest way to transfer money is with a wire transfer. Despite what the previous poster said there are no "security checks" it is immediate credit to your account. This is how I transferred the money to the attorney in my deal and he wrote a check to the financing bank the next day. I'm pretty sure he would not have done this without having 100% confidence the funds were good. I would take a cashiers check ONLY if I could call the bank that issued it and verified it was issued by the bank. Do not use a number the purchaser provides you, look the number up on the Internet or some other way you trust. There are plenty of scams out there that involve cashiers checks (Official bank checks) where the checks are forged. If you have any other questions PM me I'll try and help.


As far as places to sell the coach I would use rvtrader.com or RVT.com. Craigslist and facebook marketplace limit the reach of your advertising and although the price is right I don't think you will reach nearly as many potential buyers. Good luck.
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Old 04-11-2021, 06:13 PM   #10
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Despite what the previous poster said there are no "security checks" it is immediate credit to your account. This is how I transferred the money to the attorney in my deal and he wrote a check to the financing bank the next day.
YMMV, I guess. I sold a house earlier this year, and had the title company do an EFT with the funds into my bank account. The bank released 20% of the funds immediately and held the other 80% for two weeks. Not a big deal to me as I wasn't looking to use it right away, but that's what happened.
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Old 04-11-2021, 07:40 PM   #11
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I thought I would start in this forum. I'm looking for resources to help us sell our class A motorhome to move to a class B.
e
Thank you everyone including those of you that took the time to send us a private message.

We decided to see what the dealer who sold us a 2021 Winnebago Solis 59px might give us for our Monaco Trek. We approached the dealer after we had negotiated the price of the Solis. The amount they offered was reasonable and met our needs so we accepted their offer.

I guess I should change my signature lines! :-)
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