[DeTomaso] Selling cars to non USA buyers

[Larry - Ohio Time Corp]

Boyd is 100% right. Move the money from bank A to bank B.

I had a check bounce for a few thousand, that caused some of my checks to
bounce in a corporate account. The bank did not call me, they just pulled
the money out of a very high yield CD that was in the same bank under my
personal name. I almost got arrested that day, but got my personal money put
back. Next week closed all the business accounts. 


Larry (safe then sorry) - Cleveland



-----Original Message-----
From: detomaso-bounces at poca.com [mailto:detomaso-bounces at poca.com] On Behalf
Of Boyd Casey
Sent: Thursday, September 12, 2013 6:27 PM
To: Melanie Disco
Cc: detomaso at poca.com; Ian H
Subject: Re: [DeTomaso] Selling cars to non USA buyers

Mikes advice to open a specific account just for the purposes of this
transaction, I have not heard of a wire transfer being reversed but it is
better to be cautious , so open a separate account at * A DIFFERENT BANK* ,
once you get the money and it has cleared (  you can withdraw it) do so and
deposit it in your regular bank or put it under your mattress. The reason
for suggesting a different bank is a little item called " right of offset"
in  a nutshell it means if you owe a bank money they can attach any other
money you have in any other accounts in banks they own or control , There
by "offsetting " their lose back to you! So if there was some fraud and the
wire transfer was reversed (long after you had released the car you would
not lose your money . If the bank ( any bank) takes a loss you can rest
assured they will sue you in an attempt to recover.  But as I said I have
never heard of a wire transfer being reversed after the funds had been
released. If you have a good relationship with your banker (pr know someone
in banking ask them for advice to protect yourself.
Boyd


On Thu, Sep 12, 2013 at 5:55 PM, michael at michaelshortt.com <
michaelsavga at gmail.com> wrote:

> As far as his issue of getting it home...not your problem.
> He gets a title, a bill of sale and you get paid.
>
> I have bought and sold many things by wire transfer.
> You need to be aware of any eire fees or currency conversion fees, make
> sure that you soecify is final sales price as exclusive of all fees and in
> US dollars.
> Speak with your branch manager and ensure that the funds have cleared the
> fed before you lose control of the car.
> Once you have the cash, you're homefree.
>
> Michael Shortt
>  On Sep 12, 2013 5:44 PM, "Ian Hannington" <
> ihannington286720mi at comcast.net>
> wrote:
>
> >
> >
> > I have been contacted by someone in Chile who is interested in buying my
> > Pantera.  I have never sold a car to someone from outside the country
> > before
> > and I am looking for advice from others who have on how to proceed.  We
> > talked a bit over the phone and agreed on a price and he is willing to
> wire
> > transfer the money to my account.  I told him I would not release the
car
> > until all funds are transferred.  He is going to have a fellow Chilean
> who
> > lives in the US come and inspect it.  If everything is good, he will
> > transfer the funds.
> >
> >
> >
> > So I guess I am looking to protect myself from any scams,  but I am
> > thinking
> > that once the money is confirmed to have been transferred into my
account
> > and cleared there is nothing to worry about, right?
> >
> >
> >
> >
> >
> > I also don't know what to do if I actually do sell it to him.  Is there
> any
> > paperwork I have to fill out or anything else I need to do to ship it
out
> > of
> > the country?
> >
> >
> >
> > I have a guy who is local to me who is coming to look at it on Monday
> too.
> > I  hope he wants it and then I don't have to worry about it!
> >
> >
> >
> > Anyway, any advise would be greatly appreciated
> >
> >
> >
> > Thanks,
> >
> > Ian
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
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