Advice on Sale of item

[Ed-Zulu]

Even if you are able to move the funds the bank can and will reverse the credit to your account if the original cheque is dishonoured.

So my safe rule is not that safe then, just been lucky?

[Angus**]

Personally I feel just get more personnel information from the buyer- Be honest and tell them you are nervous about the transaction as it is a lot of money and you are also saying goodbye to your most prized possession.

 

Get an ID copy, proof of address,  Find out where he/she works or what company they own- call into the company find out if the person actually owns or works there.  

Find the person on Facebook.

 

Supply the buyer with same information about yourself so they also get a sense of security.

 

Get the buyer to pay via EFT

Both sign a delivery document . ie Person A (ID number) paid Person B (ID number) X amount of money for the following goods. Perhaps even sign a document accepting the condition of the bike.

 

Sorry - may be a few spelling errors

[Pure Savage]

I feel ill just thinking about someone EFT'ing R100k.

[eddy]

 

 

Get the buyer to pay via EFT

 

 

 

In your presence.

 

When you meet up to hand over the bike, let him log onto a laptop there and then and set up your e-mail as notification address.

 

Let him pay you whilst you monitor your inbox. The confirmation must arrive within seconds and directly from the bank. Do not give them time to get a friend to make one up/ amend a real one.

[JXV]

I'd be naturally suspicious of someone willing to pay R100k for a bike and not coming to eyeball it first.

 

If you are considering paying that much for an item in another city, it is not unreasonable to buy a flight to go see it in person and make arrangements.

 

I bought an expensive photographic item once. Flew to go see it and test it. The seller, even though we had mutual acquaintances, still wanted to see me log onto internet banking in his presence and make the EFT.

 

Most banks offer a 'pay and clear now' option on EFTs to other banks at a cost of under R50 for a transaction this size. I would insist on that.

 

When a EFT is credited to your account, it will show in your balance but is not cleared until it also shows up in the 'available' funds.

 

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