GT3 private party sale - Is Escrow a new scam ?
#16
#17
Rennlist Member
Thread Starter
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
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
#18
Burning Brakes
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
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
The decline of a generous offer for 1st class tix strikes me.
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Napoli (07-17-2019)
#19
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.
#20
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.
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.
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subshooter (07-17-2019)
#22
Originally Posted by kahane18
DO NOT SHIP THE CAR UNTIL THE CHECK CASHES
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Napoli (07-17-2019)
#23
Rennlist Member
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.
#24
Rennlist Member
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
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
#25
Rennlist Member
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.
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subshooter (07-17-2019)
#27
Racer
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.
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.
#30
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Join Date: Mar 2003
Location: Atlanta, GA / Lake Keowee, SC
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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.
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Midtowner (07-18-2019)