I agree with everything Randall suggested here but will add a comment
based on last nights local news there has been a rash of fraudulent
cashiers checks and money orders being passed lately. So be aware even
if a bank teller says the check or money order is good if at a later
date the bank finds out it isn't you are the one out the money not the
bank. The suggestion this new report had for dealing with this is to go
to the bank with the person have them cash the check or money order
themselves and give you the cash. All that said an escrow service covers
both of you in light of this situation.
Doug Hamilton
1960 Triumph TR3A
1963 Fiat Cabriolet
>Date: Wed, 7 May 2003 17:34:39 -0700
>From: "Randall Young" <Ryoung@navcomtech.com>
>Subject: RE: buying/selling cars on eBay (no 6pack content)
>
>
>
>>> By "safe" I mean
>>> will a car with its history just turn into a cancelled sale for
>>> me? I'm an
>>> honest fellow, so I'll be up front about what the car's been through, and
>>> I'll probably wind up taking a small bath on the car.
>>
>>
>
>As long as the description is honest, it shouldn't turn into a cancelled
>sale. Some do, of course, it's simply a risk you have to take. I believe
>eBay has even assumed part of the risk, they will refund most of the fee (or
>maybe let you relist free, I've forgotten) if your buyer backs out.
>
>
>
>>> Do people routinely use escrow services or other means to help
>>> protect buyer
>>> and seller when selling cars on ebay?
>>
>>
>
>As a seller, I wouldn't release either the car or it's paperwork until you
>have either cash in your hand or money in your bank account. Note that
>payment can be stopped, even on a cashier's check.
>
>As a buyer, I would want to either take possession at the same time I paid,
>or work through an escrow service.
>
>So, my suggestion is to offer to use escrow (state who gets to pay the
>fees), but allow your buyer to work without it if he wants (and you get your
>money up front).
>
>
>
>>> What about cars with a known history of accident damage?
>>
>>
>
>I don't know what the legalities are, but stating the truth in the auction
>seems to me to be the way to go. It was in an accident, it's been
>professionally repaired, it drives and looks good (backed up by photos of
>the repaired areas). It may be foolish, but I would much rather buy from a
>seller that describes warts and all, instead of just talking about how
>wonderful it is.
>
>All that said, I wouldn't bet that you will get any better price on eBay,
>may well be less than if you advertised locally or on AutoTrader and waited
>a few months to get a good price. But eBay might be worth it, just to have
>it over and done (relatively) quickly.
>
>Just my $.02
>Randall
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