Im talking, first by email, and now, by phone, with a guy in Minneapolis who wants to buy a fairly expensive piece of recording equipment from me. 2K

He's willing to pay via Pay-Pal and let me withdraw the money etc and then receive shipment.

Im square and happy to do this except..Are there pitfalls here?

If so, what are they?

Is there potential here for a scam of some kind?

the item is working perfectly.
I'll insure for full value

I will not offer a guarantee on it

Should I create document..a waiver, and have him sign it electronically?

he could open a dispute on PayPal for the item, even months after the purchase. I haven't checked what the limit is -- 30 days? 45? 90?

Cash only.

I'm not completely up to date on best PayPal practices, but do they still have the "Gift" option on PayPal? It had no fees. No buyer protection. Request payment that way.

Should I ask him to send a United States Postal Money Order instead?

I mean, he's willing to pay upfront and then let me send..

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Kraniac
Should I ask him to send a United States Postal Money Order instead?

That's what I would do, and then I wouldn't send the item until I've cashed the Money Order at a Post Office.

PayPal does have a "Gift" option (sender pays the fees if paying with credit card), but I've read that even that can be reversed (i.e. if the sender disputed it with their credit card).

And just because you've withdrawn the money from PayPal, that won't keep PayPal from coming after you in the event of a dispute.

USPS money orders used to be capped at $1,000 so he'd have to send two.

Nothing wrong with a personal check, either, if he can wait. Old school.

Meet partway for a direct handoff?

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I’d go the USPS route also. Use the funds to pay for the shipment. And you get them cleared on the spot.

PayPal dispute can be filed up to six months after the transaction. And if that happens, they will almost always by default side with the buyer.

Unless you are a Nigerian Prince, bank wire transfer or Western Union may also be acceptable.

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Kraniac
He's willing to pay via Pay-Pal and let me withdraw the money etc and then receive shipment.

This is the biggest sucker move of them all.

LOTS of people think that if they take money out of their bank account (or paypal account) and a transaction later goes bad, they're ok because they pulled the money out. NOT SO!! You're responsible for any charges that show up after you close the account and the bank/paypal will sure as hell come after you.

Paying via paypal on a stolen credit card is THE most common scam. It takes about 3 weeks for this to show up. A paypal 'donation' is not returnable, but i think there are limits.

USPS money order is the best way to go. Go to the PO and CASH it. THAT'S when you're in the clear - when the CASH is in your hand. Accept NO OTHER money order - USPS is the only one that you can convert to cash immediately.

Quote
Ombligo
Meet partway for a direct handoff?

Yup.

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Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.

Ask him to download and make the payment using the CASH app from Square. They don't take a % and they don't stick their nose into your business.

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Just went through something similar with an open Reel to Reel deck.

I'm in New York and the seller was in Denver. I offered to use Task Rabbit and their payment services to pick up the deck and bring it to the UPS store.

[support.taskrabbit.com]-

We didn't go that route. I ended up pre paying with PayPal after a productive FaceTime conversation and demo of the deck with the seller.

Sometimes you've got to trust people - thankfully, it worked out for me.

USPS has a "how to spot a fake" USPS money orders: [www.usps.com]

USPS money order is the best way to go. Go to the PO and CASH it.

Agreed.

The buyer will need two, as they max out at $1000 each, in your case.

Also, go to the PO during or after lunch (as long as you don't take an early lunch. There very likely won't be enough money to cash even one money order in the first hours of business.

The cash comes from postage, services, and money order sales, so it may take a while to accumulate. But as long as the MO is real, you walk out with the cash, free and clear.

If that's taxable income, it's then up to you to report it.

---

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must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men
except by believing all possible evil
of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

-An armed society is a polite society.
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Quote
RAMd®d
USPS money order is the best way to go. Go to the PO and CASH it.

Agreed.

The buyer will need two, as they max out at $1000 each, in your case.

Also, go to the PO during or after lunch (as long as you don't take an early lunch. There very likely won't be enough money to cash even one money order in the first hours of business.

The cash comes from postage, services, and money order sales, so it may take a while to accumulate. But as long as the MO is real, you walk out with the cash, free and clear.

If that's taxable income, it's then up to you to report it.

My local POs never have $1000 in the till. Ever. Even at the end of the day on Christmas Eve. Might not be an issue in Chicago or an area that deals with more cash.

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We have a big giant main post office downtown..im sure they can scrape together some change..we'll see.

i think we're cool with the USPS money order thing.

Another vote for meet half-way. Get CASH in the NEW $100 bills (check the security thread on each bill, virtually NO chance of getting counterfeits). Meet in a public place like a library or, better yet, a police station. I'd bring a friend along as well.

halfway is 300 miles..not gonna..And I've done the halfway thing plenty of times..

he's willing to let me accept the money orders and get them cashed before shipping..which, i know, sounds crazy on his part.

My local POs never have $1000 in the till. Ever.

Not surprising.

Larger offices should be able to handle them, but with the USPS accepting credit and debit cards for certain purchases including money orders (well, debit card) I can imagine even more offices not having the cash.

Still, that's what I'd do.

---

When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men
except by believing all possible evil
of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* Sigs. It's Glocks I hate.

I paid cash for a couple of bucks postage on a package last month. The clerk was stunned.

Unless you need to convert the money order to cash immediately, you can deposit it at your bank just like you would a check, so no need to scour the area for a post office that has enough cash.

Quote
tronnei
I paid cash for a couple of bucks postage on a package last month. The clerk was stunned.

Unless you need to convert the money order to cash immediately, you can deposit it at your bank just like you would a check, so no need to scour the area for a post office that has enough cash.

But if you deposit the Postal Money Order and it later proves to be a counterfeit, aren't you out of luck?

But if you deposit the Postal Money Order and it later proves to be a counterfeit, aren't you out of luck?

LOL, you're still on the hook (and all out of luck) if you take cash immediately, and it later turns out to be counterfeit.

---

When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men
except by believing all possible evil
of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* Sigs. It's Glocks I hate.