selling 911 to a person far away

[cmcfaul]

The following has been proposed by the buyer. I am on east coast, buyer is on west coast. Anyone recommend a better or safer way to do the transaction.

From buyer:

1. Price: agreed upon
2. You are responsible for fixing any items found during the inspection
3. If the inspection findings work needed in excess of $500, you can elect not to proceed with the transaction

Once the inspection is completed, I will wire you $2000, in advance of the transport arrangements being made, once I confirm that there is clear title.

Prior to the transport pick up, I will wire you the balance of the funds.

Does this look right or is there a better way to do the deal.

Thanks

Chris

[wareaglescott]

How is buyer confirming a clear title? Is he expecting you to send it to him?

[cmcfaul]

I believe he is expecting me to send it to him. He has the signed title he owns the car, right? so thats not going to work. I could send him a pic of it.

Chirs

[Tarek307]

Not rite- Its very simple, if he wants to do a ppi, he does it on his dime somewhere near you, if he doesn't want to buy it then finish no deal.

If he wants to buy it you make a BILL OF SALE you email to one another both sign it, you send him a PIC of the title showing you are the owner and he wires you the funds- its that simple..

anything else is fishy or a waste of time in unnecessary complications.

*DO NOT SEND THE TITLE UNLESS YOU HAVE FULL CLEAR FUNDS IN YOUR ACCOUNT! Once you have the funds you can overnight him the title while he sets up transport for the car.

[OldSpool87]

I would add talking to buyer on the phone. Keep them on a while going back to previously covered topics. Check for consistency. I’ve been the far away guy twice with two great sellers. All transaction details were hammered out on the phone and memorialized via email. It can be done with little drama if you follow your instincts and use your nose.

[johnvan8]

I think #2 & 3 leave too much vagueness on the table. If I were the seller, I would rather just discount the $500 off the price now. Then buyer can do PPI at their expense and decide to move on or not. Unless the car is so cheap that $500 makes a significant difference...
But for sure do not send title nor car until funds fully clear.

[johnvan8]

Plus when seller starts "fixing things", who knows what else can go sideways?

[cmcfaul]

I dont think he is trying to scam me.

He and I just want to do the deal in the safest way possible because the dollars are not insignificant.

He is paying for the PPI and I agreed to a slightly higher selling price based on the PPI and assuming the first $500 if something is found that needs fixing. If something major is found we will discuss it with no obligation either way.

Assuming the PPI does not turn up anything major what I am hearing is that I send him a bill of sale and a photo of the title. We both sign the bill of sale. He wires the money and I send him the signed title and he arranges for transportation.

Does that sound right?

Thanks,

Chris

[cmcfaul]

Gonna miss her

[porschenut]

Originally Posted by cmcfaul

I dont think he is trying to scam me.

He and I just want to do the deal in the safest way possible because the dollars are not insignificant.

He is paying for the PPI and I agreed to a slightly higher selling price based on the PPI and assuming the first $500 if something is found that needs fixing. If something major is found we will discuss it with no obligation either way.

Assuming the PPI does not turn up anything major what I am hearing is that I send him a bill of sale and a photo of the title. We both sign the bill of sale. He wires the money and I send him the signed title and he arranges for transportation.

Does that sound right?

Thanks,

Chris

That's sounds perfectly reasonable. The last time I bought a car long distance, it was from a lawyer. He and I both exchanged pictures of our driver's licenses to verify identity, and he also sent me a picture of the car's title, front and back, so i could check his DL against the name on the title and also match the VIN to the picture of the VIN sticker on the car. After that, I arranged transport and wired him $1,000 earnest money. The day before the pickup, I wired him the remaining amount and he Fedex'd the signed title document and bill of sale so they got to me long before the car did.

Regarding the PPI, the last time I sold a car the buyer arranged the PPI and said as long as the estimate for any issues found comes to under $1,000, he'd have no problem with proceeding and he would handle the repairs. Who pays for what is found in the PPI is always negotiated between the buyer and seller.

Everything about this sounds legit to me. Phone conversations are important for reassurance of both parties.

[Unobtanium-inc]

Here is what a responsible seller is required to do.
1. Make the car available to the buyer or his agent, for viewing or a PPI.
2. Produce documents the buyer requests, i.e. service history and or the title.

What you don't want to get into is fixing things found in a PPI, or send the title anywhere until the car is paid for. You are far better off taking money off the car if something is found in a PPI than having it repaired on your end or on your dime. I've seen seller's stuck with repair bills they didn't want or buyers calling months later and questioning the work done while you had the car. It's far easier to make it a money transaction, it's done. For example, X light isn't working, shop says $250 to fix, you deduct $250 from the seller price. That's very clear cut.
Keep it simple.
I've had every buyer idea thrown at me, joint back accounts where the money reverts to me when the car hits the port in Europe was my favorite. I make it simple, the car is paid for it leaves my yard and I send the paperwork, the car isn't paid for, the car doesn't leave and I don't send paperwork. I will get a notorized Bill of Sale showing the details of the deal but I write on there that the car has not been paid for, i.e. balance due. If someone is not comfortable meeting these requirements I suggest they get on a plane or find a car more local to them.
Also, payment by wire transfer, no checks.
Remember a good rule of thumb, a buyer who makes himself a real pain in the arse, is probably going to be a pain in the arse after the fact too, so be very clear what the deal entails and what it doesn't. Buying a 20+ year old car does not come with an extended warranty. Our rule with our business is we only have and want happy customers, so if someone sounds like they aren't going to be happy, I move onto the next buyer. Selling Porsches is easy, there is always a buyer and they are almost always happy if the car is described honestly.

---Adam

[speedster911]

Originally Posted by porschenut

That's sounds perfectly reasonable. The last time I bought a car long distance, it was from a lawyer. He and I both exchanged pictures of our driver's licenses to verify identity, and he also sent me a picture of the car's title, front and back, so i could check his DL against the name on the title and also match the VIN to the picture of the VIN sticker on the car. After that, I arranged transport and wired him $1,000 earnest money. The day before the pickup, I wired him the remaining amount and he Fedex'd the signed title document and bill of sale so they got to me long before the car did.

Regarding the PPI, the last time I sold a car the buyer arranged the PPI and said as long as the estimate for any issues found comes to under $1,000, he'd have no problem with proceeding and he would handle the repairs. Who pays for what is found in the PPI is always negotiated between the buyer and seller.

Everything about this sounds legit to me. Phone conversations are important for reassurance of both parties.

^^ I have done exactly the same thing.

I would also recommend the purchaser selects the location for PPI- That way purchaser cannot say after they receive the car - it was your friend and they hid things for your benefit.

Title should show if their is a lean holder- I have taken photo of title on todays news paper and exchange copies of drivers license.

A bit of a hassle doing all this but hopefully both parties happy in the end.

[SalParadise]

Originally Posted by Unobtanium-inc

I make it simple, the car is paid for it leaves my yard and I send the paperwork, the car isn't paid for, the car doesn't leave and I don't send paperwork. I will get a notorized Bill of Sale showing the details of the deal but I write on there that the car has not been paid for, i.e. balance due. If someone is not comfortable meeting these requirements I suggest they get on a plane or find a car more local to them.
Also, payment by wire transfer, no checks.
Remember a good rule of thumb, a buyer who makes himself a real pain in the arse, is probably going to be a pain in the arse after the fact too, so be very clear what the deal entails and what it doesn't. Buying a 20+ year old car does not come with an extended warranty. Our rule with our business is we only have and want happy customers, so if someone sounds like they aren't going to be happy, I move onto the next buyer. Selling Porsches is easy, there is always a buyer and they are almost always happy if the car is described honestly.

---Adam

Words of wisdom right here. I could not have said it any better. No money, no car, no title. Buyer that is a pain in the a$$ - do not sell it to him - ever.

[cmcfaul]

Thanks everyone. This is exactly what I was looking for. Buyer seems like a nice and reasonable guy. He picked the place for the PPI and is paying for it. I dont think the PPI will find anything major but you never know.

Dropping it off tomorrow AM for the PPI. All goes well, will follow the steps you all have outlined.

Many Thanks,

Chris

[msark]

Regarding the PPI .... I also structure a purchase offer the same way. I'm buying a car from good Porsche folks who take care of their cars. In general if there is an issue that needs attention they were unaware as they would have fixed it for their own use.

A price reduction can crush a buyer if their (buyer) shop discovers additional issues caused by the first known issue. Even if a bolt breaks on removal costs can run up.

I recently bought a car and the PPI said it needed a belt tensioner and belt as it made a slight noise, $625.00. I paid for the repair since I was the one who would receive the benefit of the repair, it wasn't truly mechanically necessary and didn't ask the seller for anything. Applying common sense and buying from someone you have confidence in is important.

[PD41]

Yep Adam knows. Don't deal with a PITA buyer. YOUR Rules.

Had a guy grinding me on a 1954 16" wheel, I caved in and
gave him a deal for $500.
Then he starts whining and wants me to pay shipping to Europe.
No thanks, deal is over, decided to keep it. Worth a $600 - $1000 now.

Your car. Your rules.

[trader220]

Originally Posted by Unobtanium-inc

Here is what a responsible seller is required to do.
1. Make the car available to the buyer or his agent, for viewing or a PPI.
2. Produce documents the buyer requests, i.e. service history and or the title.

What you don't want to get into is fixing things found in a PPI, or send the title anywhere until the car is paid for. You are far better off taking money off the car if something is found in a PPI than having it repaired on your end or on your dime. I've seen seller's stuck with repair bills they didn't want or buyers calling months later and questioning the work done while you had the car. It's far easier to make it a money transaction, it's done. For example, X light isn't working, shop says $250 to fix, you deduct $250 from the seller price. That's very clear cut.
Keep it simple.
I've had every buyer idea thrown at me, joint back accounts where the money reverts to me when the car hits the port in Europe was my favorite. I make it simple, the car is paid for it leaves my yard and I send the paperwork, the car isn't paid for, the car doesn't leave and I don't send paperwork. I will get a notorized Bill of Sale showing the details of the deal but I write on there that the car has not been paid for, i.e. balance due. If someone is not comfortable meeting these requirements I suggest they get on a plane or find a car more local to them.
Also, payment by wire transfer, no checks.
Remember a good rule of thumb, a buyer who makes himself a real pain in the arse, is probably going to be a pain in the arse after the fact too, so be very clear what the deal entails and what it doesn't. Buying a 20+ year old car does not come with an extended warranty. Our rule with our business is we only have and want happy customers, so if someone sounds like they aren't going to be happy, I move onto the next buyer. Selling Porsches is easy, there is always a buyer and they are almost always happy if the car is described honestly.

---Adam

Bingo.... I also cannot stress enough that you don't want to get into fixing anything at all for the buyer. If you want to make a price adjustment that's fine but as soon as you say you'll fix something you open yourself up to all kinds of trouble.

I have sold many many many cars sight unseen. Money talks, everything else walks. A check and money are two different things. Checks are worthless unless you're at the bank while the bank is writing a cashiers check to you. Any other check brought to the table is a coaster for your coffee.

As others have said, if the car is priced correctly its not all that hard to sell. A guards red car is not all that rare either so why does he need this one from clear across the country? The buyer may be legit but if they start talking checks $2000 for this or that forget it.

Proof of title, is a copy of both sides of the title, end of story.

[fxdp]

trader220 makes a fair point i have to wonder as well .....
why buy this from E to W across the country unseen ?

ton of em for sale in cali ....no ?

unless of course the sale price is compelling