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Old 01-27-2019, 05:10 PM
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Safest way to make a bigger transaction?

What's the safest way to make a bigger transaction? I have a $2500 item for sale and if I take regular Paypal I run the risk I could see a chargeback long after the motor is delivered. This happened at work and it took 6 months for Pp to give the money back.
If I request payment as F&F the buyer is out of options if I run off with his money. Which my feedback suggests I will not do but ,still - what are we to do as buyers and sellers?
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Old 01-27-2019, 05:27 PM
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Biggest worry is 'buyers remorse'......buyer gets the item, it's exactly as described but he/she now wishes they hadn't spent the bucks to get it. So they find/make-up a reason to claim that the item is not as described and request a refund.


You mention in the ad for your motor that the it is 'like new' but never been mounted.......does that mean the motor has never been run, except for at the factory?


Take a whole lot of pictures, and document every communication you have with the buyer ...


Good luck with your sale
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Old 01-27-2019, 05:35 PM
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I'm the second owner.
I believe the only time it was run is at the factory.
It's nice motor - My question is about payment alternatives.
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Old 01-27-2019, 05:56 PM
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Quote:
Originally Posted by scootr View Post
I'm the second owner.
I believe the only time it was run is at the factory.
It's nice motor - My question is about payment alternatives.

I understand......at this time the safest payment for a buyer is PayPal (and not the Friends and Family option)....nothing to protect the seller.


If the distance isn't to great you might arrange to meet face-to-face with the buyer for a pre-sale inspection, after which you exchange the motor for cash.......but you get an upfront minimum 'travel allowance' ($100 - $150) for making the trip.


I see by the date on the purchase that the motor was sold to the original owner a while back, so even though it's not used it's still not 'brand new'... this may be the biggest concern potential buyers might have.


In this case you might want to make an arrangement with the buyer to send it in for inspection, and if nothing is wrong the buyer pays for the inspection. Anything wrong than you're on the hook.


Don't know what else to tell you
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Old 01-27-2019, 05:59 PM
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Thanks for the advise. I've taken a regular Pp payment. Buyer voluntarily paid the $75 fee.
So, I'll just cross my fingers and send it.
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Old 01-27-2019, 06:10 PM
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Originally Posted by scootr View Post
Thanks for the advise. I've taken a regular Pp payment. Buyer voluntarily paid the $75 fee.
So, I'll just cross my fingers and send it.
I will answer your question! Use Pay Pal.. never friends and family unless it is someone you know 100% you can trust... the buyer is protected more than the seller I know this first hand.. I had to refund over 2k on a deal that went south.. so if you canít buy the item in person.. I would talk to the seller on the phone to feel them out.. and just use Pay Pal. The condition of the item you are buying has nothing to do with the best way to purchase it.. not sure where that was going.. if you wanna buy a dog turd thatís on you.. itís your money to do what you want with rite? Hope this gave you a little clarity on your question
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Old 01-27-2019, 06:24 PM
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PayPal, Postal Money Order or Certified Bank Check. List the item as is. Make known that you would be willing to work with them to make it right. Do something to try to make them feel at ease with the purchase.

And do not cross ship if you take Money Order or Bank Check.
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Old 01-27-2019, 08:22 PM
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Dont keep your pay pal tied to your bank account.. and whatever account u use keep the balance low so if somebody tried to charge back there isnt anything there..
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Old 01-27-2019, 10:21 PM
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Quote:
Originally Posted by 3DJP View Post
I will answer your question! Use Pay Pal.. never friends and family unless it is someone you know 100% you can trust... the buyer is protected more than the seller I know this first hand.. I had to refund over 2k on a deal that went south.. so if you canít buy the item in person.. I would talk to the seller on the phone to feel them out.. and just use Pay Pal. The condition of the item you are buying has nothing to do with the best way to purchase it.. not sure where that was going.. if you wanna buy a dog turd thatís on you.. itís your money to do what you want with rite? Hope this gave you a little clarity on your question
Just for clarity the OP is the seller here...
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Old 01-28-2019, 05:06 PM
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The safest and cheapest option for you is to have the buyer send you a check and wait for it to clear before shipping. Not all buyers will do that so PP is really the only alternative. I sold a jet ski about 10 years ago and the guy wired me $5k practically sight unseen. I told him how lucky he was that he got an honest seller, he didn't even know my address!
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Old 01-28-2019, 05:37 PM
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Yeah - when you are honest you tend to trust people more.
I got burnt by a buyer last summer and it took 6 months to get my Pp money back from a buyer who tried to keep the item and the money = crook.
Hopefully this goes well - I shipped today.
I can offer you guys this bit of info about Pp. They cannot help a seller who is subject to a charge back by a foreign bank. So if your buyer uses a Canadian bank acct and refuses the charge when it comes Pp can do nothing to help you recoup your loss. Seller beware.
You can restrict payments from foreign banks to your acct. I suggest you do. Ever notice that Pp is all about protecting the buyer but, the eller pays the fee ?
Have a great day all.
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Old 02-07-2019, 10:46 AM
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I own a small business and accept credit card payments through Square. Square charges a percentage of the transaction like all credit card processors. I can send the purchaser an invoice, they then enter their credit card info into squares encrypted invoice, I never see credit card info.
Would you pay this way?
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Old 02-08-2019, 11:49 AM
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Originally Posted by Vebbyson View Post
I own a small business and accept credit card payments through Square. Square charges a percentage of the transaction like all credit card processors. I can send the purchaser an invoice, they then enter their credit card info into squares encrypted invoice, I never see credit card info.
Would you pay this way?
Square seems to have copied the Paypal formula.
All of these services can handle the transfer of funds between accounts.
It's what happens after the sale that matters. I accepted the payment here, the customer has received the goods and is happy with his purchase.
In the case where a customer is not satisfied with the item or has buyer's remorse... then what happens when he declines the charge on his bank card? That is the big question for the seller.
Transaction handlers charge the seller fees and advocate for the buyer. When the seller is wronged as I was once when the customer kept the product and the denied the payment... It took half a year to get my money back on what was blatantly fraud from the gitgo.
As some one said "Why is it they can take money out of my account in 2 seconds and it takes 6 months to put it back !?"
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Last edited by scootr; 02-08-2019 at 04:18 PM.
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