Advice to ensure I’m not scammed when selling my rig

[dtoste77]

Hi All,

We just put our 2016 Winnebago Vista on the market and received a reasonable offer. I’m in Oregon and the buyers are in Eastern Washington.

I saw red flags when the buyers offered a price without having seen the RV. The only real question they’ve had is whether there’s been any smokers in the RV.

This was through RV trader and my question back to them was whether they’d be coming to pick up the rig, what bank would they be providing payment from. I also asked if they’d be willing to provide phone numbers as well as a copy of a drivers license. They’ve provided it all. It sounds like they prefer to wire the funds.

Also, for context, my rv is being financed through BofA so we’d be providing payout to BofA at the local branch and the buyers would then pay me the balance.

At first I thought I was being scammed but now after hearing from them I’m thinking I’m not. Am I missing something here? Also, are there recommendations for what’s safer. Certified Check or Wire Transfer?

[Arch Hoagland]

Never take a certified check! I owned a business years ago and saw a $10,000 certified check bounce.

A wire transfer is the only way I would do it other than cash that has been checked for counterfeits. I also got stuck with a counterfeit $20 bill.

B of A will want a wire transfer too I suspect.

[dtoste77]

Thank you, Arch! Here I was thinking certified check was the way to go. Thank you for the info. They actually have been suggesting wire.

[code2e]

As long as you have a deposit account at the bank where the loan is. Insist on wire transfer for sale amount. The bank will be certain of secure funds before title is released. You keep the coach till title is released by bank. Funds are already deposited at no risk to you. Buyer gets title, keys and coach. Everyone is happy.

Sold my last coach that way. No regrets. Since then, I sold a classic car for $15K in cash. Two guys came Saturday late afternoon to get it, paid cash. Then I realized no way to deposit before Monday. The two, unknown to me, guys know there is cash in my house. Uneasy weekend. Won't be doing that again. Better to meet at bank, buyer deposits to my account. Buyer gets title & car. I sleep well.

[creativepart]

To the OP. Just watch for last minute changes… “had to go out of town, will send my agent.” That kind of thing. Also, if they never refer to the RV by its model name in their communications or don’t ask common questions like tire condition, service records, past problems? That would be a serious red flag.

People get taken by thinking these are ok people and it’s just this little change or request. If you are eager to make a quick sale you are a prime target for thieves. They will use your eagerness to their advantage.

You don’t have to understand the scam to lose big time.

[dtoste77]

Originally Posted by code2e

As long as you have a deposit account at the bank where the loan is. Insist on wire transfer for sale amount. The bank will be certain of secure funds before title is released. You keep the coach till title is released by bank. Funds are already deposited at no risk to you. Buyer gets title, keys and coach. Everyone is happy.

Sold my last coach that way. No regrets. Since then, I sold a classic car for $15K in cash. Two guys came Saturday late afternoon to get it, paid cash. Then I realized no way to deposit before Monday. The two, unknown to me, guys know there is cash in my house. Uneasy weekend. Won't be doing that again. Better to meet at bank, buyer deposits to my account. Buyer gets title & car. I sleep well.

You bring up a good point. I don’t have an account with the bank where it’s financed and was thinking they would make one wire to the lien holder for the payout and then one for me for the remaining funds, however that could cause issues. I may just open an account there and have them wire to me and once the funds become available then payoff the loan and have them release title to the buyers.

[dtoste77]

Originally Posted by creativepart

To the OP. Just watch for last minute changes… “had to go out of town, will send my agent.” That kind of thing. Also, if they never refer to the RV by its model name in their communications or don’t ask common questions like tire condition, service records, past problems? That would be a serious red flag.

People get taken by thinking these are ok people and it’s just this little change or request. If you are eager to make a quick sale you are a prime target for thieves. They will use your eagerness to their advantage.

You don’t have to understand the scam to lose big time.

Thanks! That’s been the big red flag for me, no real questions about the coach. They’re only repeating question is whether there have been any smokers in the RV

[Winemaker2]

Originally Posted by dtoste77

You bring up a good point. I don’t have an account with the bank where it’s financed and was thinking they would make one wire to the lien holder for the payout and then one for me for the remaining funds, however that could cause issues. I may just open an account there and have them wire to me and once the funds become available then payoff the loan and have them release title to the buyers.

Talk to the financing bank, tell them what's transpiring and ask them how best to handle. You may or may not need an acct but they do this frequently and know what works & doesn't.
IMO there is some benefit to a new acct in that that will be the only acct # the buyer needs for the transfer and it will in affect only be temp. & used for the sale. Buyers don't have your normal bank acct info, routing #, etc.

[creativepart]

Originally Posted by dtoste77

Thanks! That’s been the big red flag for me, no real questions about the coach. They’re only repeating question is whether there have been any smokers in the RV

If that’s the case then you need to be extra wary going forward. Don’t give out your active bank account info with routing and acct number.

Open a totally separate account, not connected to your account, with a minimum amount balance and provide that account info for the transfer. Then once funds are transferred be sure to remove the funds out of that account immediately so that they can’t recall the funds a few days later after you’ve handed over the title and rv.

[dtoste77]

Originally Posted by creativepart

If that’s the case then you need to be extra wary going forward. Don’t give out your active bank account info with routing and acct number.

Open a totally separate account, not connected to your account, with a minimum amount balance and provide that account info for the transfer. Then once funds are transferred be sure to remove the funds out of that account immediately so that they can’t recall the funds a few days later after you’ve handed over the title and rv.

Thank you! I will be. I texted both the numbers provided and they got back to me and let me know this was their first motorized RV and have had a TT in the past. They did also ask if it was tow ready (which it is), etc. They seem legitimate, but I can’t help but be cautious.

I hope it works out, it’s really a good unit with only a couple of minor items. It only has 19k miles on it.

[Gary RVRoamer]

Just don't turn over the title until the funds have been received and processed into your account. The bank has about 3 days to actually verify receipt thru the clearing network, so they can credit your account immediately but take the money back a day or two later. A wire transfer avoids that wait - it clears almost instantly.

[dtoste77]

Originally Posted by Gary RVRoamer

Just don't turn over the title until the funds have been received and processed into your account. The bank has about 3 days to actually verify receipt thru the clearing network, so they can credit your account immediately but take the money back a day or two later. A wire transfer avoids that wait - it clears almost instantly.

Thank you! The bank holds the title so what I’m thinking is that I’ll open up a new account and then have them wire the funds to it. I’ll then visit the bank with them confirm the funds are there and payoff the loan and have the bank release the title to them.

[BobGed]

Here's my suggestion so that everyone is happy and protected.

Have the buyers come to you where they can view the RV. Then both of you go to the bank that holds the title. Follow the bank's instructions on how they should have the funds transferred by wire. The bank will receive the total purchase price, deduct the amount to payoff the lien, and remit the balance to you by the method of your choice.

[TXiceman]

Only accept a bank-to-bank wire transfer for payment and do not release the title until the wire transfer is confirmed by the bank.

If the RV has a loan, let your bank handle the details.

Ken