Question about selling a boat

[Headhunter]

Each financial institution has it's own limits on e-transfer amounts.

Cash is king and the cop shop is a good idea. I understand that they have designated a number of divisions to accommodate cash sales.

Good luck with the sale.

HH

Edited April 5, 2018 by Headhunter

[Old Ironmaker]

1 hour ago, AKRISONER said:

In the hammer in the 80's carrying around 200 racks without a weapon? you are a mad man. I bet those junkies could smell the fear leaking from your sweat glands lol

I had 2 weapons back then on me at all times, even sleeping. They were left and right guns, get it, guns. Junkies were no more or less visible back then too, they were smarter though. Those were the days in Steel City that differences were settled in the parking lots at the plants or hotels, no guns or knives etc. The odd ball bat could come into play however, actually a nice piece of washing machine hose with a ski pole grip was more effective and much lighter. I had an old Compare that when asked by the Police why he had a baseball bat in the back seat, he told him in his broken English "Just in case I see a game and I want to play too, you never know." Then they asked "What about the shotgun, in case you see a Deer playing on Burlington St?"

[G.mech]

Call your bank and see what they say the best and most secure method is.  

[Old Ironmaker]

2 hours ago, TheKawarthaAngler said:

.

PayPal isn't a brick and mortar business you can walk into and help get a problem resolved, unlike your local bank.

Sounds similar to this Bitcoin thing. It is something my dear Lady is looking into, I don't like the idea. Actually I don't like any idea that can't be explained to me and my simple noggin within a few days, especially when it comes to MY money, her money too.

[KawarthaAngler]

5 minutes ago, Old Ironmaker said:

Sounds similar to this Bitcoin thing. It is something my dear Lady is looking into, I don't like the idea. Actually I don't like any idea that can't be explained to me and my simple noggin within a few days, especially when it comes to MY money, her money too.

Not really.  Bitcoin is a currency, like USD and Yen and Euro.  It is just not recoginized by most governments and thus isn't controlled and regulated like a countries currency.

PayPal works just like online banking with our own 'legit' currency.  The problem is if something goes wrong with a transaction you can't just pickup the phone and call someone.  That is part of the risk with PayPal.  I'm a PayPal user and have a 'verified' account (means it is linked to my banking savings account ... so I can make a payment either from my credit card or my savings account).  And in reverse ... when I take money out of my PayPal account it goes to my savings account at my bank.    Other than the one time I had a problem and could not transfer money out of my PayPal account, it has been quite handy.  But when I had that one problem ... I just couldn't pickup the phone and call someone and get an answer.  I had to read lots of FAQ and HELP pages and read other peoples same problem before I finally found what I had to do (I had to 'reset' my account).  

If I had thousands sitting in my PayPal account and could not transfer the money out and had no one to contact for help ... I'd be very upset.  From my experience ... I only use it for online shopping.  I have received small $ transfers to me ... but I keep them rare and small because of the problem I once had.

[Old Ironmaker]

35 minutes ago, TheKawarthaAngler said:

Not really.  Bitcoin is a currency, like USD and Yen and Euro.  It is just not recoginized by most governments and thus isn't controlled and regulated like a countries currency.

 

So as a Bitcoin or e commerce user I can wake up the next morning and find it has devaluated to zippo? That's all I need to know about e commerce.

I have a total of 1 experience buying on line, I needed a flight to Arizona the same day. I'm old school, if I use a bank or credit card and the purchase is say 200 bucks I have 220 cash in my pocket. Believe it or not where we live there isn't a cable connection from retail stores, only dial up so using a bank card etc. is hit and miss.

[Garnet]

You go into a bank these days with more than 10k and you are answering questions

signing document and generally the 3rd degree. All money laundering.

[Old Ironmaker]

4 hours ago, Garnet said:

You go into a bank these days with more than 10k and you are answering questions

signing document and generally the 3rd degree. All money laundering.

All you need is a copy of the sales receipt, that will keep you clear of a money laundering charge. I sold a 76' Vette in 79' for 7800 bucks, the guy gave me a big old well worn paper bag full of 5's, 10's and 20's, no questions asked back then, a few raised eyebrows raised for sure though. Definitely the guy was washing his dope money. Someone set it on fire a week later according to the Cops that paid me a visit. I need to write that book. edit: before I forget what really happened, what is embellished or what I think really happened.

Edited April 6, 2018 by Old Ironmaker

[Garnet]

I took a large amount of money out to buy a boat. I wanted cash to negotiate and it was a 

distance away. The bank was adamant the government would be this and that.

My simple statement I'm not doing anything wrong just buying a boat. I did put money back in

bank in smaller amounts to avoid signing documents. 

[mikeh]

I agree asking your bank is the best bet. What kind of boat are you selling?

[aplumma]

You might want to remind the person that if you want over $ 8,000.00 cash that it has to be prearranged for the bank to have the money on hand for them to pick up.  I needed 19,000 for a piece of equipment and they had to have it delivered but asked next time to give them a weeks warning the next time. 

Art 

[Dutch01]

9 hours ago, mikeh said:

I agree asking your bank is the best bet. What kind of boat are you selling?

It's just a regular fishing boat (under $10K). It all kayak fishing for me from here on.

I think if possible I will meet them at their bank to get a certified cheque and settle the sale.

Any ideas on a good deposit to ask for on $6-7K sale? $500?

 

[DanD]

Sorry but if that's all you're talking about (7K) then there's no question.   CASH!!!!!      Shake the guy's hand and walk away. Not to brag but I make weekly business deposits of that plus amount. Take the cash and don't flount it.

Dan.

 

Edited April 7, 2018 by DanD

[Old Ironmaker]

7 grand, we collect far more than that in cash at our annual Golf Tourney. You can tell today is a cashless society. Don't sweat it Dutch, cash is King.

[OhioFisherman]

8 hours ago, Dutch01 said:

It's just a regular fishing boat (under $10K). It all kayak fishing for me from here on.

I think if possible I will meet them at their bank to get a certified cheque and settle the sale.

Any ideas on a good deposit to ask for on $6-7K sale? $500?

 

I just viewed a deposit as a definite show of interest, most people won't just give you a couple hundred bucks on a sale like that and walk away or not show.

[Dutch01]

Just got home from a long day getting the boat out of storage and had a chance to catch up to all the replies. Cash is king sounds good to me. Thanks!

[Garnet]

I never take deposit unless they are substantial.

[Dutch01]

7 hours ago, Garnet said:

I never take deposit unless they are substantial.

Luckily it didn't come to that, I sold it this afternoon and they paid in cash!

 

[Old Ironmaker]

Congrats dutch. Was it really a happy day? You know what they say about the 2 happiest days in a boat owners life. It will be a sad one for this guy I tell ya'. What are you going to do with all that $$ you save on owning a boat? Yaks are good for 2 things, fuel and health. Health as long you stay on it not under it. JAJ.

[Dutch01]

Thanks, it was a bittersweet day of course. I had a lot of great times in that boat. But it was too costly to store (I live in an apartment) and I didn't use it enough to justify it. The money all went to debt so no happy windfall for me.

Having said that, I expect to do a lot more fishing this year. My kayak is free to store and I can throw it in my truck and go whenever and wherever I want.

[grimsbylander]

Sell a boat??? What's that?? I can see buying another boat, but sell one?? LOL 

Glad it worked out. Cash is good.

[KawarthaAngler]

On 2018-04-05 at 4:19 PM, Old Ironmaker said:

Sounds similar to this Bitcoin thing. It is something my dear Lady is looking into, I don't like the idea. Actually I don't like any idea that can't be explained to me and my simple noggin within a few days, especially when it comes to MY money, her money too.

 

Edited April 12, 2018 by TheKawarthaAngler

[BillM]

On 4/5/2018 at 1:49 PM, John Bacon said:

That must be the daily limit on your account.  I have done a couple of email transfers for $3k each.  

Perhaps.  Still never a way I'd purchase a boat.  Been burned with e-transfer before, lesson learned

[Old Ironmaker]

On ‎2018‎-‎04‎-‎12 at 11:15 AM, TheKawarthaAngler said:

 

I get it now. The Knights Templar created the first banking system based on Gold, Silver and Jewels , Bitcoin is invisible. they didn't accept Bitcoin during the crusades.

As far a Pay Pal, taking to a kid yesterday they were supposed to take $80.00 from his Pay Pal account and they took $800.80 from it. He has been trying to recover his money for 2 months. The seller has disappeared and there is no human to talk to at Pay Pal. I'll stick to going to the store to buy my stuff .