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  #11  
Old 01-21-2021, 07:54 AM
airguy's Avatar
airguy airguy is offline
 
Join Date: Oct 2006
Location: Garden City, Tx
Posts: 5,314
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Yes, this sounds just fishy enough to tap the brakes. And if tapping the brakes puts the kibosh on the whole deal, then it wasn't meant to be.

Any time you have a potential sale that requires A) cash only, and B) right freaking now timing, that's a bad deal waiting to happen.
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Greg Niehues - SEL, IFR, Repairman Cert.
Garden City, TX VAF 2021 dues paid
N16GN flying 750 hrs and counting; IO360, SDS, WWRV200, Dynon HDX, IFD440
Built an off-plan RV9A with too much fuel and too much HP. Should drop dead any minute now.
  #12  
Old 01-21-2021, 08:28 AM
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9GT 9GT is offline
 
Join Date: Jan 2010
Location: Southern Michigan
Posts: 2,076
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When I sold my RV-10, the buyer was from another state and unknown to me. No way I would accept any kind of a check with fraud so prevalent in todayís world. When I spoke to my bank about this and my concerns of possible fraud, I was told it takes days for a check to get through the process to clear and transfer the funds. The buyer had came with his AP to do the pre-buy and wanted to fly the plane home the next day. He had his bank do an immediate wire transfer to my account that morning and flew his new plane home an hour later. My buddy, looking for an RV-9A, had a plane he was making arrangements to fly out to look at, but the seller wanted a sight unseen deposit to hold it for him so he knew he was a serious buyer. He walked from that deal.
When I sold my C-152, the buyer worked with an established and reputable airplane broker that handled the escrow.
Fraud is too easy to do and difficult to catch if you arenít up to speed on current techniques. Be careful out there!
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David C.
Howell, MI
RV-10: #41686 Under Construction
RV-9A: #90949 Under Construction
RV-10: #40637 Completed/Sold 2016
Cozy MKIV:#656 Completed/Sold 2007
"Donor Exempt" but donated through Dec. 2021
  #13  
Old 01-21-2021, 08:51 AM
Electrogunner Electrogunner is offline
 
Join Date: Aug 2016
Location: Quarryville ,pa
Posts: 554
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I used escrow.com for funds transfer on a Ferrari I sold to a buyer in Taiwan. It is a simple process with procedures that both both parties must comply with before funds are dispersed.
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RV10 N620RV
IO540 C4B5
Whirlwind 375RV prop
Garmin G900X
First Flight 2/14/2019
  #14  
Old 01-21-2021, 10:26 AM
philip_g philip_g is offline
 
Join Date: Nov 2009
Location: Oahu
Posts: 188
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Thanks for all the input. Sounds like we're inching forward with aerospace reports

You gotta be careful with people using fake escrow accounts too and I've worked with them before. Escrow.com is probably a better idea but aerospace reports is super established
  #15  
Old 01-21-2021, 12:17 PM
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airguy airguy is offline
 
Join Date: Oct 2006
Location: Garden City, Tx
Posts: 5,314
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Quote:
Originally Posted by 9GT View Post
When I sold my RV-10, the buyer was from another state and unknown to me. No way I would accept any kind of a check with fraud so prevalent in todayís world. When I spoke to my bank about this and my concerns of possible fraud, I was told it takes days for a check to get through the process to clear and transfer the funds. The buyer had came with his AP to do the pre-buy and wanted to fly the plane home the next day. He had his bank do an immediate wire transfer to my account that morning and flew his new plane home an hour later. My buddy, looking for an RV-9A, had a plane he was making arrangements to fly out to look at, but the seller wanted a sight unseen deposit to hold it for him so he knew he was a serious buyer. He walked from that deal.
When I sold my C-152, the buyer worked with an established and reputable airplane broker that handled the escrow.
Fraud is too easy to do and difficult to catch if you arenít up to speed on current techniques. Be careful out there!
When we bought the 172, we opened a checking account at the same bank as the seller and put our money in there. After inspecting and test-flying the airplane, we went to the bank and the teller transferred funds from our account to his, no muss no fuss and everybody happy.
__________________
Greg Niehues - SEL, IFR, Repairman Cert.
Garden City, TX VAF 2021 dues paid
N16GN flying 750 hrs and counting; IO360, SDS, WWRV200, Dynon HDX, IFD440
Built an off-plan RV9A with too much fuel and too much HP. Should drop dead any minute now.
  #16  
Old 01-21-2021, 12:53 PM
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rv8ch rv8ch is offline
 
Join Date: Feb 2005
Location: LSGY
Posts: 3,551
Default escrow.com

I've also used escrow.com for some transactions and it was fine. As others have said, please take care - the scammers are really smart, please do your homework. They have been known to sell things that are not even theirs to sell, even after showing it.
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Mickey Coggins
http://rv8.ch
"Hello, world!"
  #17  
Old 01-21-2021, 12:56 PM
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Freakshow108 Freakshow108 is offline
 
Join Date: Sep 2018
Location: Eatonville WA
Posts: 124
Default Kit location

Is the kit in Seattle? If so I may be able to do a pre buy inspection.
  #18  
Old 01-21-2021, 01:00 PM
philip_g philip_g is offline
 
Join Date: Nov 2009
Location: Oahu
Posts: 188
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Quote:
Originally Posted by Freakshow108 View Post
Is the kit in Seattle? If so I may be able to do a pre buy inspection.
It's in walla walla, middle of nowhere lol

Appreciate the offer, it's getting trucked to tacoma to go in a container to get here by boat
  #19  
Old 01-21-2021, 04:29 PM
philip_g philip_g is offline
 
Join Date: Nov 2009
Location: Oahu
Posts: 188
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aerospace reports got me covered for $250, about the same cost as escrow.com wanted.
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