Notices
991 GT3, GT3RS, GT2RS and 911R 2012-2019
Sponsored by:
Sponsored by:

GT3 private party sale - Is Escrow a new scam ?

Thread Tools
 
Search this Thread
 
Old 07-17-2019, 01:59 PM
  #16  
odwa
Racer
 
odwa's Avatar
 
Join Date: Oct 2014
Posts: 470
Received 38 Likes on 22 Posts
Default

Originally Posted by maspirito
Have the money wired end of story.
Have sold a couple GT's across country, only way it works for me is to have funds wired to your account prior to sale.
Old 07-17-2019, 02:13 PM
  #17  
Perimeter
Rennlist Member
Thread Starter
 
Perimeter's Avatar
 
Join Date: Nov 2013
Location: USA PNW + AZ
Posts: 3,714
Received 328 Likes on 219 Posts
Default

Thanks,

Yes it was Escrow.com but the terms completely favored the Del Ray, FL buyer - I countered with an offer to buy a first class plane ticket for the buyer after the PPI - but he repeated his response of "no time"

I'm old enough to have seen enough stories of dissappointed buyers who buy high end exotics sight unseen across the country and it ends up as a clusterf* all the way around - nobody ends up happy
I declined the sale but am open to new ideas if the industry is changing, just like I welcome PPIs
Old 07-17-2019, 02:17 PM
  #18  
chillindrdude
Burning Brakes
 
chillindrdude's Avatar
 
Join Date: Nov 2014
Location: Virginia
Posts: 923
Received 61 Likes on 39 Posts
Default

Originally Posted by Perimeter
Thanks,

Yes it was Escrow.com but the terms completely favored the Del Ray, FL buyer - I countered with an offer to buy a first class plane ticket for the buyer after the PPI - but he repeated his response of "no time"

I'm old enough to have seen enough stories of dissappointed buyers who buy high end exotics sight unseen across the country and it ends up as a clusterf* all the way around - nobody ends up happy
I declined but my spidey sense still piqued. Googling the buyer's name ended up with that name and the word "criminal report" in the results Not clear why, and no guarantee of anything nefarious but it caught my eye
I think you have more than enough flags present to walk away from the transaction.

The decline of a generous offer for 1st class tix strikes me.
The following users liked this post:
Napoli (07-17-2019)
Old 07-17-2019, 02:24 PM
  #19  
Jpacione
Pro
 
Jpacione's Avatar
 
Join Date: Dec 2014
Location: Texas
Posts: 521
Received 16 Likes on 15 Posts
Default

Wired funds or through a dealer. Might be legit, but if it makes you uneasy (it would in my case) then why do it that way? You have what the buyer wants. Just negotiate a different way. If he/she is unwilling, that would raise a big red flag.
Old 07-17-2019, 02:31 PM
  #20  
AllAboutThatP
Burning Brakes
 
AllAboutThatP's Avatar
 
Join Date: Jun 2019
Posts: 828
Received 556 Likes on 277 Posts
Default

I've used escrow.com as a buyer, but not on a high end car. I thought it worked well as the buyer.

However, as a seller on a high end car, and the way this buyer is acting I think you are wise to decline the sale and wait for someone else.
Old 07-17-2019, 02:45 PM
  #21  
tasman
Race Car
 
tasman's Avatar
 
Join Date: Jul 2005
Location: Appleton, WI
Posts: 3,633
Received 125 Likes on 87 Posts
Default

Favors buyer way too much. I'd do some other way or keep trying to sell
The following users liked this post:
subshooter (07-17-2019)
Old 07-17-2019, 02:53 PM
  #22  
dewilmoth
Pro
 
dewilmoth's Avatar
 
Join Date: Jun 2013
Location: North Texas
Posts: 635
Received 151 Likes on 83 Posts
Default

Originally Posted by kahane18
DO NOT SHIP THE CAR UNTIL THE CHECK CASHES
Nope! Checks are easy to claw back, even certified checks. Wire only! There is no excuse to do anything else, wiring is very easy and once it's in your account it can't be removed.
The following users liked this post:
Napoli (07-17-2019)
Old 07-17-2019, 03:18 PM
  #23  
s2kmunop
Rennlist Member
 
s2kmunop's Avatar
 
Join Date: Jan 2018
Location: Sparks, NV
Posts: 138
Received 6 Likes on 5 Posts
Default

Originally Posted by dewilmoth
Nope! Checks are easy to claw back, even certified checks. Wire only! There is no excuse to do anything else, wiring is very easy and once it's in your account it can't be removed.
See that's the problem as a buyer. A wire is great for the seller as the money is in their account and it can't be removed. But now you have no money, no car, and you have to hope the seller is trust worthy.
Old 07-17-2019, 03:31 PM
  #24  
s2kmunop
Rennlist Member
 
s2kmunop's Avatar
 
Join Date: Jan 2018
Location: Sparks, NV
Posts: 138
Received 6 Likes on 5 Posts
Default

Originally Posted by Perimeter
Thanks,

Yes it was Escrow.com but the terms completely favored the Del Ray, FL buyer - I countered with an offer to buy a first class plane ticket for the buyer after the PPI - but he repeated his response of "no time"

I'm old enough to have seen enough stories of dissappointed buyers who buy high end exotics sight unseen across the country and it ends up as a clusterf* all the way around - nobody ends up happy
I declined the sale but am open to new ideas if the industry is changing, just like I welcome PPIs
Well I'm not sure how he would be able to scam you using Escrow.com but if you didn't feel comfortable with the buyer it's better you declined. Personally I always fly or drive to inspect the car in person but Florida to Arizona? does take some time flying there and back so I can understand saying he didn't have time. Being in Nevada, if I was buying from Florida I would just have the car shipped sight unseen, but I would also require the use of an escrow company to protect myself.
Old 07-17-2019, 03:32 PM
  #25  
RossP
Rennlist Member
 
RossP's Avatar
 
Join Date: Jun 2011
Location: Atlanta, GA
Posts: 883
Received 236 Likes on 149 Posts
Default

When I bought my GT3, the previous owner (seller) insisted that the money be cleared in his account before he would release the car even if I paid with a certified check (From a sellers perspective I dont blame him). From a buyer perspective though I was not going to pay him the money and then not have the car in my possession. Since we banked at the same bank (big national bank brand), we went in and basically did a cash "withdraw" from my account for the full amount, and then directly deposited the "cash" into his account. Since cash clears immediately into bank accounts this was a way that worked for both of us.
Old 07-17-2019, 04:27 PM
  #26  
shapiroeric
Race Car
 
shapiroeric's Avatar
 
Join Date: Aug 2014
Location: Cali
Posts: 3,633
Received 546 Likes on 277 Posts
Default

In wouldn't even ware my time on emailing him back
The following users liked this post:
subshooter (07-17-2019)
Old 07-17-2019, 04:41 PM
  #27  
iphilips
Racer
 
iphilips's Avatar
 
Join Date: Jan 2018
Location: San Francisco, CA
Posts: 494
Received 67 Likes on 51 Posts
Default

Just do what the dealers do to us. Ask for a good faith deposit and increase the purchase price. We all know that real buyers will pay ADM 😋

But seriously, if you don't like the terms of the deal and you can walk away then state or negotiate new terms. If they don't like it, let them walk. You're not in this as a business and need to maintain a relationship. You want a safe and fair transaction.
Old 07-17-2019, 04:42 PM
  #28  
Mvez
Rennlist Member
 
Mvez's Avatar
 
Join Date: Nov 2007
Location: Louisville, KY
Posts: 2,590
Likes: 0
Received 210 Likes on 93 Posts
Default

Walk. Dealing with this type of guy will take years off your life.
Old 07-17-2019, 06:47 PM
  #29  
9972RS
Rennlist Member
 
9972RS's Avatar
 
Join Date: May 2010
Location: VA/NJ
Posts: 848
Likes: 0
Received 34 Likes on 26 Posts
Default

why not sell via a dealer for nominal fee?
Old 07-17-2019, 06:48 PM
  #30  
bogey1
Rennlist Member
 
bogey1's Avatar
 
Join Date: Mar 2003
Location: Atlanta, GA / Lake Keowee, SC
Posts: 1,022
Received 217 Likes on 109 Posts
Default

No offense to the good people in South Florida (of which there are many), but having lived there I would be very wary of anything that seems wonky - it probably is! Lots of smart, unscrupulous folks down there that are great at taking advantage of people.
The following users liked this post:
Midtowner (07-18-2019)


Quick Reply: GT3 private party sale - Is Escrow a new scam ?



All times are GMT -3. The time now is 08:39 AM.