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

[RjCorazza]

For those of you who carry large amounts of cash to make a purchase - I reference the web link and applicable paragraphs below. In the recent past, most of us have learned how distrustful police can be. In small towns, money confiscated is used to fund the police departments. I didn't read all 14 pages of comments, and hope I've not duplicated someone else's warnings related to this issue.
Banks can bounce a check 30 and more days after that check has been deposited.
Best is to cause the buyer to have (open) an account at a nearby bank. When the funds are present at THAT bank, meet the buyer for buyer to get a cashier's check and hand it to you - while you are both at that bank.

What Happens to Money Seized By Police?

Find out what happens when the police seize your cash and if you can get it back.

www.criminaldefenselawyer.com

If you're arrested, all of your belongings will be inventoried at the jail. But whether you'll get everything back is the question.

Under federal and state laws, law enforcement officers can seize property, including cash, if the money is earned from or used to commit a crime. The seizure is known as "forfeiture," and it's done without compensation to the owner. If police have reason to believe that you are involved in certain illegal activities, such as selling drugs, they can seize any property you have on you, including cash. In short, you might lose the cash if there's evidence that it was the proceeds of an illegal activity. Police are not permitted to seize property simply because the driver committed a traffic violation, but the fact that you are carrying a lot of cash can raise suspicion that you might be involved in other crimes.

I read an article recently about this. Some states don't even have to ultimately charge a person with a crime and can still confiscate property or cash. Some people were able to have property returned only after a years long legal battle.
States that have laws against this type of theft are instead confiscating cash and property FOR the federal government, who gives the state a kick back. Nothing like an organized crime government.

 

[sixdogs]

As mentioned earlier, I have the buyer get an account an a branch of the bank I use. When they come to pick up the purchase, we go to the bank (that we now both have accounts at) and do a cash transaction. He technically "withdraws" the cash from his account and it goes into my account. Zero risk to me and that's what I care about.

It would also be OK if he took out the cash, handed to me and I immediately bought a cashiers check with the $$. No risk to me either.

Now, if they don't live within driving distance, they either have to plan on a road trip to do the above or just move on.

 

[blee03]

I’ve never bought with a check or sold with a check... bought my truck in cash from a local seller, that was the biggest cash deal I’ve ever done.

I sold a Camaro to a guy who obviously didn’t trust me (I don’t blame him, everyone should be cautious). I sold it to him for around $6500 but he insisted we meet at the local police station when I said “cash only” (I guess he thought I would keep the Camaro and take the cash)

Anyways he called the police station and explained what was going on and they said sure come by anytime and you can do the deal and sign over the title in the lobby. That worked great and made him comfortable handing over the cash.

I would consider this option if you are questioning handing over a large amount of cash to a seller. (Or accepting a large amount of cash from buyer)

 

[k0ua]

So why not use pay pal? I use it all the time to buy and sell expensive items. you can meet, and have the tractor there, and the guy can start the pay pal transaction on his phone and you can see the money go into your account on your phone and hand over the keys to the tractor. seems easy and safe for both parties. Or cash.

 

[fried1765]

So why not use pay pal? I use it all the time to buy and sell expensive items. you can meet, and have the tractor there, and the guy can start the pay pal transaction on his phone and you can see the money go into your account on your phone and hand over the keys to the tractor. seems easy and safe for both parties. Or cash.

I use PayPal for E-Bay $500 deposits (I make them nonrefundable).
The use of PayPal for a total $15,000 or $20,000 tractor sale would add a prohibativly expensive PayPal fee.

 

[kantuckid]

Mostly buying issues aren't there for local sales. Distance sales are the issue. I used to rebuild wrecks and stopped in 2008. At that time commercial sellers of salvage mostly 100% required a wire transfer or no deal. On personal buys of new vehicles from dealers I write a personal check which is commonly done. Private sales are the issue! Going to a police station for a cash sale doesn't negate the problem of cash verification at all! Police offices don't have bill verification as does a credit union or a bank.
Most large ticket item sellers on ebay specify they will not take final payment from paypal given the fees. Websites with large and active flea markets for car, tractors motorcycles most all warn people not to use friends and family on paypal to avoid fees.
I tend toward trust but also know the boogermans very real indeed as I worked in prisons and was a superintendent of a juvy treatment program. Due caution and sizing up the buyer /seller matters a bunch.
If your a greenhorn at wheeling and dealing-good luck huh? Guns & CCW at sales won't solve yer problems that most always come later?

 

[blee03]

Going to a police station for a cash sale doesn't negate the problem of cash verification at all! Police offices don't have bill verification as does a credit union or a bank.

Take a verification marker with if you’re worried about it, or look for the strips in the 100 dollar bills...

but I highly doubt, someone with counterfeit bills is going to willingly bring them to a police station and go on camera handing them over to you... not to mention their name/address you’ll be copying from their drivers license to the title or registration.

Lots of cameras out there now-a-days...