I want to buy your tractor... what will you accept

[LittleBill21]

so you have a tractor for sell. outside of cash, what would you take that would make you comfortable for a person to pay you the day he takes the tractor.

personal check?
cashier check?
wire transfer?
paypal?


it seems private people have been ruined by scammers, business have 0 issue with pretty much all of them, private people seem to think your nuts, especially if you want to pay without being their in person.

 

[sixdogs]

It's cash unless I know them or a check two days before they want to pick up the tractor.

Another, and perhaps better and easier way is for them to open an account at a branch of the same bank I use. Then, when they come to pick up the tractor, we do a "cash" transfer of funds from their account to mine at the bank. No reversal of that. I explain that, in this day and age, I'm not taking any chances especially because I'm selling cheaper than I wanted. I'm extra polite but they can like it or lump it but I would never say it that way. I just don't bend.

Personal checks can be stopped, cashier's checks can be stopped or reversed and so can wire transfers. Don't know about PayPal but I'm not taking it.

 

[LittleBill21]

It's cash unless I know them or a check two days before they want to pick up the tractor.

Another, and perhaps better and easier way is for them to open an account at a branch of the same bank I use. Then, when they come to pick up the tractor, we do a "cash" transfer of funds from their account to mine at the bank. No reversal of that. I explain that, in this day and age, I'm not taking any chances especially because I'm selling cheaper than I wanted. I'm extra polite but they can like it or lump it but I would never say it tat way. I just don't bend.

Personal checks can be stopped, cashier's checks can be stopped or reversed and so can wire transfers. Don't know about PayPal but I'm not taking it.

and what stops you from selling the tractor to someone else while accepting my check, that's my issue there is no protection for the buyer either, especially if your not planning to buy in person...

would you be willing to split a escrow service fee?

I'm not sure what im going to do, due to covid i don't travel right now. think thats going to kill this for me.

 

[Hay Dude]

I have run into some real problematic buying/selling situations like that.
Heres an idea. Tell the buyer of your equipment if he wants to use a check. Meet at a tractor or equipment dealer. Agree to pay the dealer $50-$100 bucks to hold the tractor at his dealership a few days until the buyers check clears. Once the check clears plus an extra day, the buyer can come pick it up.

 

[LittleBill21]

I have run into some real problematic buying/selling situations like that.
Heres an idea. Tell the buyer of your equipment if he wants to use a check. Meet at a tractor or equipment dealer. Agree to pay the dealer $50-$100 bucks to hold the tractor at his dealership a few days until the buyers check clears. Once the check clears plus an extra day, the buyer can come pick it up.

half these people have no way of transporting it, escrow services are cheaper at that point, then paying for it to get towed over there, then paying a "storage" fee.

idk the answer either, all this technology and were still stuck going back to cash.

and im the buyer here.

 

[bullbreaker]

I usually have done cash only , granted all tractors were under 35K . With one of my brothers a LEO as back up . With me checking bills with a counterfeit money detector pen , and a 45 semi auto on me . Its a great way to keep both parties honest .

 

[LittleBill21]

i don't want to side rail this but what exactly is a gun going to do? you shoot someone for robbery if you want to call it that pretty sure your going jail? if you opened carried onto my property i'd prolly tell you to leave.

this is coming from a ccw permit holder.guns should never be used to "influence" anything.

 

[bullbreaker]

Thread ask I want to buy your tractor , not I am goin to buy your tractor . BTW who said anything about open carrie . I think we should remember even though there not TBN members "sceemers" are reading this also . Just how I conduct business .
I respect your way .

 

[LittleBill21]

maybe i read your comment wrong about "keeping parties honest" if i don't know the gun is on on you, then im not sure what its adding?

 

[Hay Dude]

half these people have no way of transporting it, escrow services are cheaper at that point, then paying for it to get towed over there, then paying a "storage" fee.

idk the answer either, all this technology and were still stuck going back to cash.

and im the buyer here.

The buyer has to transport it home, so he can transport it to a dealer near the seller and leave it on his trailer. Obviously wouldnt work for a guy more than 5 hours away-he would have to make the trip twice.
Or if its a tractor, just drive it there with a friend escorting you to local dealer.
Ive done this before and I used a dealer I did some parts & sales business with and he charged me nothing for it. He was happy to do it.

 

[LittleBill21]

The buyer has to transport it home, so he can transport it to a dealer near the seller and leave it on his trailer. Obviously wouldnt work for a guy more than 5 hours away-he would have to make the trip twice.
Or if its a tractor, just drive it there with a friend escorting you to local dealer.
Ive done this before and I used a dealer I did some parts & sales business with and he charged me nothing for it. He was happy to do it.

yea i would need to setup a shipper, looking to be a semi right now, most of the tractors i've looked at are close to 300 miles away. not trying to give a hard time, just trying to figure out how to do this without getting screwed myself.

 

[Hay Dude]

i don't want to side rail this but what exactly is a gun going to do? you shoot someone for robbery if you want to call it that pretty sure your going jail? if you opened carried onto my property i'd prolly tell you to leave.

this is coming from a ccw permit holder.guns should never be used to "influence" anything.

Got to agree there. Once guns are being brandished or cops are checking my cash, I'm finding someone else to buy equipment from. I had a guy come from down south (VA) to buy a mower from me and he showed up with a buddy and a gun talking all his " you northerners cant be trusted crap ". I told him to get off my property. The friend he brought along showed maturity and asked the buyer to go wait out along the road with his gun and convinced me he would be a gentleman and complete the transaction. I reluctantly agreed, got the mower on his trailer and he calmly left.
dang freak :laughing:

 

[Hay Dude]

What brand is it? Lets say its Deere. Ask seller to take it to local Deere dealer and have Deere dealer be intermediary. To make it worth the small hassle for the dealer, offer him oil change, filters, etc.
He'll do it.

 

[LittleBill21]

What brand is it? Lets say its Deere. Ask seller to take it to local Deere dealer and have Deere dealer be intermediary. To make it worth the small hassle for the dealer, offer him oil change, filters, etc.
He'll do it.

maybe i will. im currently looking a mahindra.

 

[fried1765]

It's cash unless I know them or a check two days before they want to pick up the tractor.

Another, and perhaps better and easier way is for them to open an account at a branch of the same bank I use. Then, when they come to pick up the tractor, we do a "cash" transfer of funds from their account to mine at the bank. No reversal of that. I explain that, in this day and age, I'm not taking any chances especially because I'm selling cheaper than I wanted. I'm extra polite but they can like it or lump it but I would never say it tat way. I just don't bend.

Personal checks can be stopped, cashier's checks can be stopped or reversed and so can wire transfers. Don't know about PayPal but I'm not taking it.

My bank has told me that two days is not nearly enough time to be reasonably certain that a check has cleared.

 

[fried1765]

maybe i will. im currently looking a mahindra.

Here is what I did last June.
I found an exceptionally low hour, orig. owner, Kubota L48 TLB for sale that I thought was "the one", but it was 350 miles away.
An old college roommate, (with a JD) who's judgement I trust implicitly, lived 20 minutes from the seller.
I called my classmate, and asked him to look at the L48.
He gave me a very favorable report.

I then called the seller, and we negotiated a 32K selling price.
I sent him a 20% cashier's check deposit ($6,400).
A week later I towed my 14K trailer the 350 miles to pick up the tractor, and brought a cashiers check from the same bank for the balance due of $25,600.
I think the seller felt quite safe.

 

[Storm56]

One thing that has worked for me as the buyer and for the seller on several occasions. I have Bank of America account. I see if there is a branch reasonably close. We meet at the bank and have them issue a cashier check right there. Everybody is protected. For deals under $10,000 I usually do cash, over that I do the bank thing. Luckily there has been a branch close enough every time I needed one.

 

[Hay Dude]

Here is what I did last June.
I found an exceptionally low hour, orig. owner, Kubota L48 TLB for sale that I thought was "the one", but it was 350 miles away.
An old college roommate, (with a JD) who's judgement I trust implicitly, lived 20 minutes from the seller.
I called my classmate, and asked him to look at the L48.
He gave me a very favorable report.

I then called the seller, and we negotiated a 32K selling price.
I sent him a 20% cashier's check deposit ($6,400).
A week later I towed my 14K trailer the 350 miles to pick up the tractor, and brought a cashiers check from the same bank for the balance due of $25,600.
I think the seller felt quite safe.

Doesn’t sound like (and correct me OP if I’m wrong) that he has a trustworthy friend nearby and sending someone you don’t know $6400 is still a considerable risk.
I just sold a $25,000 spreader to an out of state guy (NY). We ran into same problem. I asked him if I could speak with his out of state bank branch manager on phone. She sent me a bank check and said it was irrevocable. She also checked his account balance and assured me that once a they create a bank check, the funds are withdrawn from his account and given to the bank. Now I’m doing business with his bank, not the buyer. The bank then guarantees the funds.
Not saying it’s 100% foolproof, but she emailed me their bank policy and bank checks cannot be reversed by the bank customer.

 

[sixdogs]

Yes, I have done an escrow thing with an attorney on a car sale. The buyer was from out of state and wanted it picked up by a courier company. The escrow thing took a few days, the atty cleared the $$ out of the account and we were good to go. Worked great and I forgot I did that. Escrow might be my first choice.

Two days isn't long enough to clear a check and that's right. But for some local people that I can identify and have roots I 'm ok with it because I call their bank to make sure it has been presented or go to their bank and physically cash it. If they say I need an account, I'll open one but haven't had to do that yet. I also can have my bank phone to check on it. In reality, almost all checks clear overnight but some can get hung up and I don't want mine being one of them.



Years ago I had a pillar of the community give me a larger check for something he really wanted from me so I said let's go the the bank and cash it. He looked a little squeamish and at the bank I saw him discussing things with the teller and then I saw him give her a credit card. I'm sure that was a rubber check and the CC was for a cash advance. Lesson learned.

In later years I bought an expensive used tractor with a cashier's check and when I got home noticed something wasn't right. The hour meter numbers didn't line up right. I bought from a big name dealer. Well, I called corporate for that brand of tractor and found out none of what the dealer told me was true. It wasn't a one-owner but was used for mowing roadside and the hour meter had been rolled back a lot of hours.

My bank let me stop the cashier's check for probable fraud. The dealer did everything he could to get me to let that check cash and told me he would pay me back with another check and that his reputation as a dealer was at stake. I was lucky on that one to get out with a whole hide.

 

[fried1765]

Doesn’t sound like (and correct me OP if I’m wrong) that he has a trustworthy friend nearby and sending someone you don’t know $6400 is still a considerable risk.
I just sold a $25,000 spreader to an out of state guy (NY). We ran into same problem. I asked him if I could speak with his out of state bank branch manager on phone. She sent me a bank check and said it was irrevocable. She also checked his account balance and assured me that once a they create a bank check, the funds are withdrawn from his account and given to the bank. Now I’m doing business with his bank, not the buyer. The bank then guarantees the funds.
Not saying it’s 100% foolproof, but she emailed me their bank policy and bank checks cannot be reversed by the bank customer.

I am not sure I understand your comment.
Under the circumstances, I think there was very little risk for me.

MY friend inspected the tractor for me.
The seller did not know my friend, but they live 20 minutes apart in rural Maine.
Up there if they don't know each other, there are likely many others that they each do know.
I offered to send the payments to my friend, and have him write the checks to the seller from the local bank.
Seller was a two man local high end custom home builder.
He told me: "I have only been stiffed once in 30 years of business, and I am completely comfortable with payment the way you (I) suggest".

"Maniacs" are great people, and my college roommate is most definitely one of them.
He is a retired math professor from the U Maine system.