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Private Sale?

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  • 20-08-2008 7:32pm
    #1
    Evil Phil
    Registered Users Posts: 7,468 ✭✭✭


    What is the usual method of payment in a private sale? Obviously I don't want cash in the house and cheques can bounce. Bank draft I suppose is the best option but what do people suggest other than that?
    Tagged:


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    #2
    alias no.9
    Registered Users Posts: 6,268 ✭✭✭alias no.9


    If you don't want cash in the house get a Bank draft, get them to phone you in advance and give you the serial number of the draft. You then ring the bank to confirm it's kosher. Alternatively, if you both have accounts in the same bank, meet them in a branch, they withdraw the cash and you lodge it.


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    #3
    omb0wyn5ehpij9
    Closed Accounts Posts: 16,095 ✭✭✭✭omb0wyn5ehpij9


    How much will the sale be?
    Bank Draft is the best option, unless it would be a small amount of cash


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    #4
    Evil Phil
    Registered Users Posts: 7,468 ✭✭✭Evil Phil


    It would be in the region of 14k. I guess a bank draft would be the way to go. I didn't think of checkign the serial number though, thanks for the advice.


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    #5
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    I would adivse logding it as soon as you. Ideally do as mentioned above, do the deal at the bank, and lodge straight away


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    #6
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    Yes deal at the bank in cash with buyer lodging it into your account, this rules out forgeries and any worries about keeping the cash at home, everyones happy.


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    #7
    ergo
    Registered Users Posts: 763 ✭✭✭ergo


    sorry for bumping this but I was searching around for the answer to this

    am trying to sell my old car for a small amount (around €1,000) but I have moved to UK and am only around IRL on weekends etc when banks are closed. I presume it's not unreasonable to ask for cash for such a relatively small sum.

    Otherwise how would I know if a cheque /draft would be above board over the course of a weekend or are there any other options?


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    #8
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    Asking for 1k in cash is no problem at all. A buyer won't have an issue with that.

    Now if it was 10k it would be an issue


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    #9
    Compton
    Registered Users Posts: 3,157 ✭✭✭Compton


    1000 euro is deffo a cash deal no problem.


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    #10
    digitaldr
    Registered Users Posts: 2,511 ✭✭✭digitaldr


    I think it would be good enough just to watch them get the draft at their branch as the bank won't issue a draft unless they have sufficient funds in their account.


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    #11
    ergo
    Registered Users Posts: 763 ✭✭✭ergo


    cool, thanks for the replies above, the interested party is happy to deal in cash, I just wasn't sure what would be acceptable

    and that is useful advice to watch them get a draft in their own bank, that would have to be pretty secure (unless it's the Bank of Iceland of course...)


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    #12
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    sorry, but having been stung by a forged draft, I wouldn't touch one with a Barge Pole..........they are a guarantee of.........nothing!!

    Best method, full stop, is a bank transfer - direct from their account to yours, ahead of collection date.

    If that's not do-able, they need to send you the draft in advance, and you clear it in full, first.

    I wouldn't hand over the vehicle under any other condition.

    1k deal is def a cash job, though.

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