I'm selling a tractor on Ebay and am wondering how to be sure the funds are REAL before my tractor leaves? I need your wisdom!!

 

bank certified check, money order but wait 3-4 days for it to clear, personal check but call their bank to verify the funds and wait for it to clear, or good old cash in person payment.

paypal is good, but for large sums they require you to pay fees etc. in order to transfer the money from paypal to your bank once you receive the payment. if you use paypal regularly and have a certified account with them it is easier and cheaper to make the transfers tho.

 

Thanks. I think the tractor will sell for, like 3K. I do have a certified Paypal acct and use it regularly.
Would this method assure me of the funds being legitimate and not having to wait for anything to clear?

For a bank certified check does my bank need to confirm funds in his bank, or is that what the "certification" does? Thanks. len

 

You will lose 3% for the paypal fee to get the money. I prefer cash in hand.

 

If the tractor has a loader cash only. The hobby farmers are in love with loaders. I recently sold a JD 2020 with loader for $2000 more than I paid for it new in 1969. With over 10,000 hours it was using over a quart of oil every hour, needed a clutch and hydraulic work. Had about 25 calls on it, could have sold it for way more than I got.

 

I have bought and sold a lot of big ticket items on E-Bay, the best payment is cash on delivery, no checks, no paper except cash. I sold a dually a few years back and I agreed to a certified cashiers check, took it to my bank and was told I have to wait several days for it to clear because it may be a forgery! Talk about sweatin bullets, won't do that again. I have also used wire transfer, talk to your banker to make the arrangements. May want to look into E-Bay's escrow service, never did use it but they will want their percentage. I demand Ben Franklins or they don't get the vehicle. If they want it bad enough they'll figure something out.......WV Smoker.....

 

The formula for John Deere's are: (Green x Yellow)*years=Lots o' Gold!

Jon

 

The 419 Scam is the popular one to watch out for. Read up on it and look for the signs.

http://en.wikipedia.org/wiki/Advance_fee_fraud

On a tractor, I'd want a bank check or cash, don't bother with paypal. Paypal is fine for smaller stuff and stuff that you would ship, but big stuff like this, I'd do cash or bank check.

 

When I buy things if its under 500 bucks I get a postal MO and send it certified mail and with my address and phone number. If it is over that amout I either do cash or bank transfer .

 

With the capability of printers these days, a bogus bank check is pretty easy to make. When I accept a bank check, I want to be in the buyer's bank watching the check cut these days. If that's not possible, wire transfer or something else secure like Paypal. The bogus cashiers' checks will likely be cashed by your bank, but I believe they have up to two weeks to clear. If it doesn't, then your bank just deducts it from your account. Beware!

 

$$$$ Cash Only $$$$ In God We Trust

 

If your going to take cash at least get one of those counterfeit checking markers they use in stores

 

I usually ask for a small deposit thru paypal and the balance in cash! Paypal is the best for instant money transfers! If they don't have it they can't send it. If they do you get it instantly. You can't bounce a paypal payment. You can stop payment on any type of check! bank check, MO etc....PayPal and cash only!!!

 

I just take Paypal and I have a Paypal Debit card so I can use them like a bank. Very convenient and secure... If they want to pay cash... well... thats fine too....

Oilguy

 

Just a Heads up , bank transfer Wire Transfer Is a Bad Idea , You Have Just Gave Them Your Routeing # And Acct # Think About That ! What Could They Do ! OWN YOU ! CASH is the Best But Paypal Works Very Well And Worth There 3%.

Best Luck
TB