How to pay for a boat

[David]

What is the usual way of paying for a boat, private sale, in the US. Money order, certified check, a western union?

complicated by being a Canadian buyer, not me

[22R]

Cash

22r

[big tom]

If money is owed on the boat I like to meet at there loan holder/bank and get a clean title at time of transaction. Certified check is good.

[mjw930]

Sadly, in this day and age I will only accept wire transfer / ACH, bank check drawn on a bank with a local branch or one I can call to confirm validity or cash if it’s less than $10,000. When calling to confirm a check look up the branch online, if the number on the check doesn’t match then refuse payment. “Certified Checks” are relatively easy to counterfeit and money orders are garbage.

I also require a drivers license and take a picture of it. If they refuse then no boat.

[Sutphil]

Under those conditions it's a leap of faith.

[flabum1017]

Cash

22r

If they can get a money order, certified check etc, then they got cash in the bank..... or they are doing a credit card cash advance.... either way, they can bring cash instead of a check.

If they say they can't get cash, then the check is probably forgery

[mjw930]

If you do cash get a paper money verification pen at Office Depot, etc. At a minimum random check the bills.

Yes, it may seem paranoid but anyone who has run a retail business understands the risk and has been burned at least once.

[flabum1017]

And make sure to look at the money too...........

[TraceF3]

Sadly, in this day and age I will only accept wire transfer / ACH, bank check drawn on a bank with a local branch or one I can call to confirm validity or cash if it’s less than $10,000. When calling to confirm a check look up the branch online, if the number on the check doesn’t match then refuse payment. “Certified Checks” are relatively easy to counterfeit and money orders are garbage.

I also require a drivers license and take a picture of it. If they refuse then no boat.

All of this.

I don't even bother with cash. I want a Bank Issued Check. They send me a copy. I send that to my banker and let her confirm it. When they pick up the boat all I have to do is be sure it's the same check they sent me a picture of.

[mr fun]

Benjamen's

[blacktruck]

What is the usual way of paying for a boat, private sale, in the US. Money order, certified check, a western union?

complicated by being a Canadian buyer, not me

You can simply go to the bank together and get a bank check / bank draft. Easy, no need to carry cash over a certain amount. You can exchange drivers licenses before hand if you want. If you're in Canada, most Canadian banks have US accounts available, you can transfer the money, write a check to deposit in the US, then bank draft from that institution. Or wire the money to the bank for a draft.

[InjectorService]

You mean people still "pay" for things? I thought everyone financed everything!

(Whats this "cash" stuff you talk about)

Blake

[Richard]

Bought a boat recently from a Canadian seller. Sent them a deposit in the form of a bank check. Went through without a hitch. Now I have to wait till the borders open to get it. Fortunately the seller was understanding and has kept it under raps until I can get it.

[InjectorService]

Bought a boat recently from a Canadian seller. Sent them a deposit in the form of a bank check. Went through without a hitch. Now I have to wait till the borders open to get it. Fortunately the seller was understanding and has kept it under raps until I can get it.

You can have a hauler pick it up, or bring it across the boarder. Just an FYI if you want it sooner than later.

Blake

[David]

The buyer got outbid. Thanks anyway. He had transport worked out as he was not going to cross the border. Moot now.