the only way i would do a transaction is to accept a promissory not to pay from the buyer.
How many of you are laughing? Cause I am too.
Actually, Big ticket items, it's cash or a certified bank check.. No other way.. If you are lucky, the buyer is working with a bank for financing and the banks does the transaction, your money gets wired to your account..
I sold a $65k boat a couple of years ago. It was listed on FB and this guy lived 5+ hours away. We met at my bank that afternoon with his certified check. We went inside and had it verified, and then we went outside and switched the boat to his hitch and sent him on his way.
Zelle. Instant. No trip to the bank or any other interruptions or meetings needed. No account numbers are shared. The money transfer is non cancellable once initiated. Insufficient funds on the part of the sender and nothing will happen and you're not chasing a ghost or a voodoo bank check. No 1099 or IRS notifications due to 'limits'. The only gotcha, which is rare.....their bank won't allow a single transaction over a fixed amount and they have to do multiple 'sends' to get you your cash in your bank account. It removes the Craigslist scammers from even dropping a dime on you.
I moved all my rentals to this method a couple of years back and have completely cured the payment B/S that sometimes happens in the landlord biz.
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Experience is what you get when you don't get what you want.
"We'll be friends until we're old and senile,....then we'll be new friends."
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