How does one handle the large amount of cash when buying from a private party? $30k is a lot of cash to carry and gettIng a cashier check for that amount, I've had the bank withold a large portion of it for about a week.

How have you who've bought recently handled the transaction?

Thanks.

I recently sold my sled and the buyer had banded Benjamins, 10 to the pack. Most (if not all) sellers want cash... not a cashier's check. Just get a manila envelope to put the 30 bundles in... don't go flashing it around and I'm sure you'll be fine.

Well thirty bundles of ten hundies sounds a lot more discreet, now that you say it that way.

Was picturing thirty grand like a Breaking Bad scene.

And you're right about the cashiers check. I would hold the boat until it cleared if I was selling.

Thanks

I was a trusting SOB and took a cashiers check from the guy that bought my old boat.

It cleared with any hassles, but yeah... I coulda been burned.

Be prepared to argue with your bank manager when you go withdraw $30K in cash.

How about just meeting the guy at HIS bank and have them make you out a bank cashier check or even better set up a wire at his bank and once it clears release the boat? Also make out a good bill of sale receipt signed by both parties stating that if for any reason the payment is rejected you will immediately retain possession and all costs associated with obtaining the boat back will be paid by the buyer. Make sure to copy his drivers license, confirm his address is accurate and do a quick internet search on his name is see if anything "funny" pops up. In other words, cover your ass.

Wire transfer or certified check. No title transfer until the payment clears. It's easy and quick if you work with both banks in advance (less than 24 hours). Don't go the cash route. It can actually cause more problems than its worth. If you do decide to go the cash route, $30k doesn't take up much physical space. It's just (3) of stacks of high society.

Haven't had any trouble with decent amounts of cash from my local bank. I just call ahead a day or two to make sure they set some aside specifically.

I sold a boat last year and the guy had a cashiers check for 28K. We went to his bank (Chase) and they handed me a nice stack of hundo's within 15 minutes.

I like "cash" both when selling and when buying, always with a "bill of sale".

Bill of Sale, examples can be found on the internet....find one you like, scan to your computer, then its handy for many kinds of sales/purchases.

Good luck!!!!!

$30,000 wouldn't take that big of bag!!!!!

Paypal works great.

I like the way my kid bought his. Both party's drive to buyers bank, (seller with boat in tow). Moneys payed in bank paperwork signed and boat and trailer were moved to sons tow rig, quick, clean, safe.

That's the only way I would buy or sell an expensive item anymore.

That's an elegant solution.

I remember buying my first boat, after the test ride and settling on a price, I went to my bank anyway for the cash. Then back to his place. Why not both go together?

Thanks!

On purchases that involve too much cash on hand this seems like the way to go.

That said, everything I've ever sold, from driftboats to dirtbikes hasn't been over $5,000. Cash in hand is what I've required and had no issues with.