How to sell a boat and avoid scams

[paulfl]

Crypto would be the way to go. Once its in your account the deal is done. Then you hand over the paper work. and everybody is happy.
This will be the future of transactions via the blockchain. Start learning now so you don't get left in the dust. I'm 78 yrs and if I can learn this stuff I'm sure you can too.

[Boatwright]

I'm in the middle of selling a motorcycle right now.

I have found when I respond with: "cash only"; or "I will meet you at my bank to confirm your wire transfer or cashier's check" I never heard another word from the 80% who are scammers.

Last time I sold a boat, I used a broker. He put a hold of about a week on the
closing until the funds had cleared. It pains one to pay broker's fees but remember: the best reason to use one is the security of the transaction.

BTW: I tried to use the online sailboat listings. Scammers all over there too.

[sail sfbay]

Originally Posted by skipmac

...........What's the answer? I could demand an Irrevocable, Confirmed Letter of Credit but that's a hassle and expensive. Cash works but selling an expensive boat that's a lot of cash for buyer and seller. Wire transfers maybe but could one of those be called back?

Use an escrow service with wire transfer. U.S. wire transfers are irrevocable.