I’m kind of like a guy up the post a little way, I’m looking at buying from a private seller who isn’t too fond of working with a “financial institution” but I am. How does this play out?
I would think as long as they get the amount of money that we agree on, it shouldn’t matter who it comes from...I like the guy’s boat but I don’t know if it’s more headache then it’s worth.
Each seller is a bit different but that's fine. We wire funds and track down loans against the boat being sold. I can't explain why someone would rather take a check from a stranger than a wire. A wire is real and automatically accessible. Some banks hold checks for 5 + business days to see if it clears. Once in a while we get a seller that is hard and fast "cash" as in dollar bills. We find that in those cases, there is often more to the story. Paying off liens of the seller, getting title or lien work done for the buyer is something that is a must. Handing dollars to a stranger and not knowing about any liens is very short sighted. Having the keys and the boat does not mean you really own it.
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