Jump to content

Welcome to TheMalibuCrew!

As a guest, you are welcome to poke around and view the majority of the content that we have to offer, but in order to post, search, contact members, and get full use out of the website you will need to Register for an Account. It's free and it's easy, so don't hesitate to join the TheMalibuCrew Family today!

Sign in to follow this  
edwin

Question for out of state boat sale

Recommended Posts

edwin

Hi folks - 5 days on the market and I've got my Response LXi sold to a nice gent in Utah.  He's going to have uship.com handle the shipping.

For those that have had a sale like this where he's not here in person, how did you handle the transfer of funds?  We're looking into having his bank transfer the funds to my bank.  Any suggestions of what worked, didn't work, etc would be great.  Thanks in advance!

 

edwin

 

 

Share this post


Link to post
Share on other sites
That Guy

When I sold my boat to a guy in Canada a few months ago he wired the money to me and it cleared same day.  Easiest sale I've ever done. Cost $15 for the transfer but he added that to the sale price.  Congrats!  

Share this post


Link to post
Share on other sites
MalibuNation

Wiring is the only way to do it.

Share this post


Link to post
Share on other sites
asnowman

Wire transfer or cashiers check mailed to you. If he uses the same bank it should be super easy to do wire transfer, if he uses a smaller bank it may take a day for a wire to clear. I use a small local credit union, and they use a separate clearing agent for wire transfers, both incoming and out going, the extra step can cause a delay of about a day.

Obviously don't release the boat to uship agent until funds have cleared, and wait until he gets the boat to send him the title. 

Share this post


Link to post
Share on other sites
racer808

I just transferred the funds on my last boat, seller had the funds in two hours.  Only draw back was I was too impatient to wait on the shippers so I just took a little road trip with the wife.  Funny story, we stopped in Pagosa Springs on the way, got a room, went to chill in the hot pools & this older couple starts chatting us up, starts buying drinks & then the hints they want to swing started coming.  

Share this post


Link to post
Share on other sites
hethj7

When I bought my boat out of Texas, I made incremental transfers free from my ING account at the time.   I think I was limited to like $3500 each transaction, but over several payments I got him paid.   He was cool about it as the first payment started clearing - I can't remember how we did title for sure.  I think after 75% of the money had cleared he released the boat to uship.    I sent final payments after the boat arrived and he then mailed the title.  Not ideal, but I've actually found all the wire transfer stuff to be tougher than everyone else says.    

When I just sold my VLX, he showed up with a certified check and since its was from a different bank, my bank still had a hold on the funds to let it clear for like 5 days.  I let the buyer leave with the boat and then mailed him the title after the funds cleared.  

I know neither scenario I used was ideal and yes, scammers exist.   But, most people are honest and I had no issues on either transaction.  

Share this post


Link to post
Share on other sites
UWSkier

He's getting a hell of a boat.

Share this post


Link to post
Share on other sites
ahopkinsVTX
1 hour ago, UWSkier said:

He's getting a hell of a boat.

Understatement of the year! Sad to see it go @edwin

Share this post


Link to post
Share on other sites
Steve B.

Out of state buy and sells can get complicated, especially when active loans are still involved.  I've done it both ways. The first was a bit of a leap of faith as a purchase, but it was sold by a Dr. Doolittle. What could go wrong? Yes, he was and is legit !

Steve B.

Share this post


Link to post
Share on other sites
jjackkrash

You could always ask your dealer to handle the documents and act like an escrow agent.  Drop the boat off with instructions to release boat and title to u-shipper once the funds clear.  It might also be good to have an inspection/survey while there so there are no surprises for buyer or seller, especially if damage occurs during shipment.  Its nice to have a third party verify condition at time of title closing.  I bet the dealer would do it for a reasonable document and/or inspection fee.    

 

 

Share this post


Link to post
Share on other sites
edwin
1 hour ago, Steve B. said:

Out of state buy and sells can get complicated, especially when active loans are still involved.  I've done it both ways. The first was a bit of a leap of faith as a purchase, but it was sold by a Dr. Doolittle. What could go wrong? Yes, he was and is legit !

Steve B.

Tnx...no loans involved.  Clear titles on my end, he's got cash in hand.  

Share this post


Link to post
Share on other sites
edwin
3 hours ago, ahopkinsTXi said:

Understatement of the year! Sad to see it go @edwin

you and me both!  It's been a fantastic boat for the family

Share this post


Link to post
Share on other sites
edwin
36 minutes ago, jjackkrash said:

You could always ask your dealer to handle the documents and act like an escrow agent.  Drop the boat off with instructions to release boat and title to u-shipper once the funds clear.  It might also be good to have an inspection/survey while there so there are no surprises for buyer or seller, especially if damage occurs during shipment.  Its nice to have a third party verify condition at time of title closing.  I bet the dealer would do it for a reasonable document and/or inspection fee.    

 

 

The docs are pretty few - I sign two titles, fill out a basic Bill of Sale showing what property changed hands.  I get the $$$, he gets the boat.

I've sent him almost 100 pics that were taken last week, so he's pretty up to speed on the condition of the boat.  Good news is that he's a Sportster owner now, jumping up to the RLXi.  Nice guy and great boat that should serve his needs well!

Share this post


Link to post
Share on other sites
jjackkrash

So what is the new ride gonna be?  

Share this post


Link to post
Share on other sites
Fman
11 hours ago, edwin said:

Hi folks - 5 days on the market and I've got my Response LXi sold to a nice gent in Utah.  He's going to have uship.com handle the shipping.

For those that have had a sale like this where he's not here in person, how did you handle the transfer of funds?  We're looking into having his bank transfer the funds to my bank.  Any suggestions of what worked, didn't work, etc would be great.  Thanks in advance!

 

edwin

 

 

I have sold two boats out of the country, wire transfer is the most secure way to receive funds.  Have him wire you the money then the shipper can pick up the boat.  All the risk is on his end, but definitely do a wire transfer, once the cash is there it is not going anywhere.

Share this post


Link to post
Share on other sites
Sailvi767

Keep in mind that cashiers checks are not worth the paper they are printed on until they have cleared. Lots of fakes. Be especially wary of any transaction where they send you a check for more then the purchase price claiming they had financing locked in at that amount. They will ask you to refund the difference. Huge red flag!

Share this post


Link to post
Share on other sites
edwin
8 minutes ago, jjackkrash said:

So what is the new ride gonna be?  

I've got a fantastic deal lined up on a left over 2016 MC X30...one final water test on Saturday!

Share this post


Link to post
Share on other sites
jjackkrash

Nice!  

Share this post


Link to post
Share on other sites
ahopkinsVTX
8 hours ago, edwin said:

you and me both!  It's been a fantastic boat for the family

Where is the LXi going? Any crew member get to enjoy it?

I am kinda bummed you are buying a MC though... ;)

Share this post


Link to post
Share on other sites
UWSkier
2 hours ago, ahopkinsTXi said:

Where is the LXi going? Any crew member get to enjoy it?

I am kinda bummed you are buying a MC though... ;)

Me too.  Scott's one of the last of the old guard from the MBO days!

Good thing is the MC forums stink so he'll probably hang around... hopefully...

Share this post


Link to post
Share on other sites
edwin
12 hours ago, ahopkinsTXi said:

Where is the LXi going? Any crew member get to enjoy it?

I am kinda bummed you are buying a MC though... ;)

I don't think the buyer is a crew member yet.  That said, he's got a Sportster now so there's a chance.   i've not spent much time chewing the fat with him...he knew what he wanted and sent the deposit immediately. 

 

We were really thinking hard about the 21VLX as the next rig.  Each time we went and looked at the 21, mama kept wandering over and sitting in a 22VLX.  She really liked the bigger boat and the nicer interior.  I could tell it was a losing battle looking at the VTX (too small for her) or 21VLX (too plain).  The local Malibu store has been great, but there were a couple things that prevented me from pressing forward.  Happy to share details but not in a public forum.

The MC dealer owner has been a great friend for 10+ years.  He's the kind of person any of us would gladly spend time with on the water...and he earns a ton of business because of it.   The timing was great as he has a 2016 that happened to be one he ordered to showcase the various options.  It's loaded to the gills, and had been priced accordingly along the way.  I offered some suggestions on ways to get the price down and it was a success.  Assuming the water test with the wife goes well tomorrow, I'll scratch a much larger check than I'd ever have expected and drag her home.   It will be a great deal for both me and dealer...win, win.  

 

 

Share this post


Link to post
Share on other sites
edwin
9 hours ago, UWSkier said:

Me too.  Scott's one of the last of the old guard from the MBO days!

Good thing is the MC forums stink so he'll probably hang around... hopefully...

MBO days...not many left anymore!  Heck yeah, will certainly stick around these parts!  In fact, the MC dealer was asking me how I sold my boat so quickly as he's got a super clean, trade-in TXi that he can't get any lookers. 

Share this post


Link to post
Share on other sites
shawndoggy

does it have the 7.4?

Share this post


Link to post
Share on other sites
edwin
Just now, shawndoggy said:

does it have the 7.4?

6.2L

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×
  • Create New...