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Selling unseen.

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handyandy1 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote handyandy1 Quote  Post ReplyReply Direct Link To This Post Topic: Selling unseen.
    Posted: 01 Jan 2018 at 18:33
So I have a Suzuki V-Strom up for sale on the UK V-Strom forum. I've given plenty of information and photos and I've been contacted by a newish member who wishes to buy the bike. Trouble is, he's in Glasgow and I'm in Swindon! Well it's not really trouble because he has expressed a wish to buy it unseen. He would like to send me 10% deposit by bank transfer then organise a courier to transport it to Glasgow and then transfer the balance before it's picked up. Obviously it won't be going anywhere until the funds are cleared in my bank so it looks like it's pretty risk free from my point of view. I am however concerned that I might be missing something and I could fall victim to some kind of scam that I haven't heard about, particularly with regard to the transfer of ownership procedure.
Anyone think I'm being paranoid??
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red leader one View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote red leader one Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 18:36
I'd feel the same as you.
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johnno View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote johnno Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 20:00
I'm easy going on buying and selling bikes but this 10% would stop me going ahead . Why put yourself though the worry .
GSXR1100 L ,Moto Guzzi 650tt/ntx.750xpa,t5 850.1100 sport,1100 sport corsa rider
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Post Options Post Options   Thanks (1) Thanks(1)   Quote theone&onlymin Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 20:13
Tell the buyer to send all the money at once. If someone offers to buy it before then sell it to them. The deposit makes sense to secure the bike against that possibility as the bike won't be leaving until the full amount has been paid.
From a recent buyers perspective I forwarded a deposit until I was able to pick the bike up and bring cash.
Contractually I don't know where you, he or I stand in these dealings.

Cheers
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Brian UK Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 21:08
In law, there is no such thing as a non refundable deposit. So that 10% is worthless. You can try to keep your actual out of pocket expenses but no more.
So what happens if he looks at the bike when it's delivered and decides he doesn't want it? You then pay for the bike to be brought back to you so the 10% again just disappears and more.


Edited by Brian UK - 01 Jan 2018 at 21:11
Brian.

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Post Options Post Options   Thanks (1) Thanks(1)   Quote Doug Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 22:18
If he's genuine he should have no objection to paying the amount in full before the courier picks it up. No need for a deposit.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TooJuicy Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 22:22
I don't understand this arrangement: you get 10% of bike price, some unknown guy collects your bike from you, then good bye?
 
Is that it?
 
I wouldn't lose sight of my bike unto I had all the money in my bank account cleared funds. Why take a risk with your money, is the risk of losing it worth going ahead?
 
Tony
 
 
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote handyandy1 Quote  Post ReplyReply Direct Link To This Post Posted: 01 Jan 2018 at 22:42
Originally posted by TooJuicy TooJuicy wrote:


I don't understand this arrangement: you get 10% of bike price, some unknown guy collects your bike from you, then good bye?
 
Is that it?
 
I wouldn't lose sight of my bike unto I had all the money in my bank account cleared funds. Why take a risk with your money, is the risk of losing it worth going ahead?
 
Tony
 
 
 


There's no way that bike will be going anywhere until the full amount has cleared in my account. I will be speaking to him tomorrow and will make that clear!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote V7Chris Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 06:47
Listen to the BBC reports about sellers being conned when they accept payment by PayPal before accepting this form of payment. Insist on cash on collection. Buyers have been collecting expensive items via courier having paid in full with PayPal then reversing the payment which PayPal apparently allow, even after the money is in your personal account. You then owe PayPal for the sum returned to the scam buyer. You never see the goods or your money again. Also get a receipt for the bike signed by whoever collects of as 'in the condition agreed at sale'. Personally, unless they turn up in person with the cash (and I also ask for sight of personal ID from the person collecting/purchasing too) I would not go there. This will almost certainly be a scam.





Edited by V7Chris - 02 Jan 2018 at 06:54
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handyandy1 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote handyandy1 Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 07:17
Originally posted by V7Chris V7Chris wrote:

Listen to the BBC reports about sellers being conned when they accept payment by PayPal before accepting this form of payment. Insist on cash on collection. Buyers have been collecting expensive items via courier having paid in full with PayPal then reversing the payment which PayPal apparently allow, even after the money is in your personal account. You then owe PayPal for the sum returned to the scam buyer. You never see the goods or your money again. Also get a receipt for the bike signed by whoever collects of as 'in the condition agreed at sale'. Personally, unless they turn up in person with the cash (and I also ask for sight of personal ID from the person collecting/purchasing too) I would not go there. This will almost certainly be a scam.





No, I wouldn't touch Paypal with a barge pole! I have heard of the PayPal scam but as I understand it, with bank transfer once its in your account it cant be reversed...

I think however that I will give it a wide berth just in case...

Thanks for your advice guys!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote V7Chris Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 07:42
Hi, that is wise but all should be aware that a PayPal payment can be reversed even though you have the cash in your personal bank account, your PayPal account is then in debit to the amount reversed by the buyer and you then owe PayPal the balance.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Brian UK Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 08:22
Chris, I think he meant a straight bank transfer can't be recalled.
Brian.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote johnno Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 08:46
The buyer might be concerned about paying in full also.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote V7Chris Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 09:33
Originally posted by Brian UK Brian UK wrote:


Chris, I think he meant a straight bank transfer can't be recalled.

Yep, I think you are right Brian. I was just raising awareness of the pitfalls of PayPal, even though the cash might be in your own account, a 'purchaser' can still recall the funds from PayPal.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Brian UK Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jan 2018 at 09:45
Paypal is pretty good from the buyers' perspective, I use it when buying from Ebay and it's saved me on more than one occasion.
I agree from the seller's point of view things are different, they do seem to side with the purchasor.
Brian.

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