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Old 05-16-2020, 08:37 AM   #1
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Out of State buyer

I have a out of state buyer interested in my TT. What should I beware of beside the whole scam thing. How do you make sure the funds are good. I do have a small balance on the loan. I have never sold to someone out of state. All help is welcome.
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Old 05-16-2020, 08:54 AM   #2
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Originally Posted by mj6599 View Post
I have a out of state buyer interested in my TT. What should I beware of beside the whole scam thing. How do you make sure the funds are good. I do have a small balance on the loan. I have never sold to someone out of state. All help is welcome.
Best option is to pay off that small balance and have title in hand. Then accept either cash or wire transfer for funds. Do the transaction at your bank since they will have done sales before and will be able to ensure that the title is properly filled out, signed, and if necessary notarized. You will likely also need a bill of sale.
If you can't or don't want to pay off the loan prior to the sale, handling the transaction at the bank that holds the loan will make everything much smoother and will provide the buyer with a lot more comfort. These types of sales happen all the time and your bank or credit union will know what to do. Take advantage of their knowledge.
On the scam front, one of the best indicators is how far the buyer is traveling to make the purchase relative to the purchase price. If the out of state buyer is from a neighboring state and making a relatively short trip, that makes sense. If you are in Seattle and the buyer for a $15,000 trailer is coming from Miami, alarms should go off. On the other hand if you were selling a $2,000,000 Prevost the fact a buyer is multiple states away isn't as much of a surprise. Hope the sale goes through without so much as a hiccup.
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Old 05-16-2020, 08:54 AM   #3
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Cash is king
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Old 05-16-2020, 12:15 PM   #4
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If you think dealing with an out of state buyer is concerning try a different country buyer.

I was the out of country buyer.

Long story short, I had USD funds drawn from a large US bank made out to me to be cashed. I went with the seller to his bank & sat down with his personal banker. The bank held the title. An escrow acct was set up. The bank cashed the check & into this acct it went to pay for the RV. The bank took what the seller owed on the note & transferred the balance to the seller. I got the title all free & clear. The escrow acct was closed.

Took all of 15 minutes or so.
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Old 05-16-2020, 04:18 PM   #5
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Recently had a deal that I blew up. An out of state buyer that you don't know and a deal that is internet advertised fills the three legs of a scam triangle. So, beware. However, nice honest people that you have never met buy things from out of state. So, the deal needs to be safe for both of you.

Wire is not a horrible way to get paid, but if you search for scams, many involve a wire transfer.

My banker tells me that the best way to transfer funds is by Cashier's Check. However, only if the buyer's bank is a reputable banking entity, the bank makes out the check from the buyer's account in your presence and hands it directly to you. The money is secured by the bank, and you know the check is not counterfeit, because you observed the bank create the check.

Now why not a wire? Because you have to provide your bank account information to the buyer. With your bank account information, a good hacker can drain your account pronto. If you are willing to burn the account after you have immediately moved the funds, maybe no harm.
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Old 05-16-2020, 04:47 PM   #6
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Ask the buyer how they plan to pay for it. I sold a Mercedes to an out of state buyer and he gave the bank he used and a contact name at the bank. I called the bank using a phone number different that what he gave me and asked for the contact person that was given to me. It was legit and i was comfortable after calling that separate number from what was given to me.
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Old 05-16-2020, 06:29 PM   #7
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The buyer is from Washington state and is bringing a cashier check which we will verify when we get it, The only other thing he is asking for an affidavit in lieu of title. Well here in Colorado a bill of sale is what we use and I have not received the title yet. I think the bill of sale is adequate, what everybody else think?
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Old 05-16-2020, 06:44 PM   #8
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The buyer is from Washington state and is bringing a cashier check which we will verify when we get it, The only other thing he is asking for an affidavit in lieu of title. Well here in Colorado a bill of sale is what we use and I have not received the title yet. I think the bill of sale is adequate, what everybody else think?
I personally wouldn't accept a cashier's check. With today's copiers and printers it is too easy to make duplicates of a real cashier's check, changing only the payee. Then they can be used scam multiple parties out of merchandise. When you call the bank to verify the check everything will check out because the routing numbers, account numbers, check number and amount will all be correct. You can buy one of those machines that emboss the amount anywhere from flea markets to the internet.
Cash or wire transfer are the safest. And don't worry that you have to give them your account number and routing number. That information is on every check you have ever written. Someone from Washington going to Colorado to buy a travel trailer they have never seen isn't an every day occurrence. Is your TT something very unique or does the buyer have an odd situation that would make such a trip reasonable?
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Old 05-16-2020, 06:54 PM   #9
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I personally wouldn't accept a cashier's check. With today's copiers and printers it is too easy to make duplicates of a real cashier's check, changing only the payee. Then they can be used scam multiple parties out of merchandise. When you call the bank to verify the check everything will check out because the routing numbers, account numbers, check number and amount will all be correct. You can buy one of those machines that emboss the amount anywhere from flea markets to the internet.
Cash or wire transfer are the safest. And don't worry that you have to give them your account number and routing number. That information is on every check you have ever written. Someone from Washington going to Colorado to buy a travel trailer they have never seen isn't an every day occurrence. Is your TT something very unique or does the buyer have an odd situation that would make such a trip reasonable?
Good points, I think mine is the closest to that is used. I got to have this figured out by Monday because they are on the road now.
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Old 05-17-2020, 06:39 AM   #10
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I personally wouldn't accept a cashier's check. With today's copiers and printers it is too easy to make duplicates of a real cashier's check, changing only the payee. Then they can be used scam multiple parties out of merchandise. When you call the bank to verify the check everything will check out because the routing numbers, account numbers, check number and amount will all be correct. You can buy one of those machines that emboss the amount anywhere from flea markets to the internet.
Cash or wire transfer are the safest. And don't worry that you have to give them your account number and routing number. That information is on every check you have ever written. Someone from Washington going to Colorado to buy a travel trailer they have never seen isn't an every day occurrence. Is your TT something very unique or does the buyer have an odd situation that would make such a trip reasonable?
Cashiers or bank check is OK but I would make the transaction in your bank with your bank in direct contact with his bank. Last year I sold a 5th wheel to an out of state buyer, and the deal was contingent on his inspection. He brought the check for the agreed amount, inspection was good and we went to my bank/FCU. Since I had a loan, the funds paid off the loan and the CU sent me the title when the check had sufficiently cleared, 4 days later. I sent the title to the buyer by certified mail with signature required when I got it. Buyer left here with the trailer and a bill of sale. Everyone happy.

Scams abound but having your bank talk directly to their bank solves that issue.
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Old 05-18-2020, 05:41 AM   #11
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We sold a classic truck to a buyer that was out of state.
My wife set up a separate account from the one we have at Union Bank.
We told the buyer we would release the truck 10 days after the wire fund was sent.
All worked good.

Much easier if you have the title or work thru the bank that has the title.
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Old 05-18-2020, 05:55 AM   #12
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If I were the buyer I would inspect the title before paying any money.

I trusted a guy one time and it took me 14-months to get the title.

Never again....
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Old 05-18-2020, 07:04 AM   #13
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Wire transfer only. The funds irrefutably appear in your account almost immediately. Cashier's and back checks can be forged and they take time to clear.
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Old 05-20-2020, 11:27 AM   #14
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Believe it or not, when we bought our 5'er the guy didn't want to accept cash. He was concerned for his safety with that much cash on him, he told me he didn't know what I would do. To be honest I didn't even know how to respond to that, but I figured showing him my loaded firearm probably wasn't the way. The guy was kind of a nut anyhow, I went to throw the wooden chock block (piece of 4x6) in the back of my pickup and he told me he had sentimental attachment to it.
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