Paypal sale pending!!!

[Ron B.]

Hi Guys
We have our RV-10 listed on Barnstormers. We have a German resident looking at making a 10% deposit using PayPal. Being so far away and a different country I'm wandering what could go wrong giving out my paypal information? This transaction is moving along rather quickly and has me nervious.
Ron

[rv8guy]

you should be able to create a PayPal invoice. And the invoice should provide the rest. They should get a PayPal account

[Ron B.]

As far as I know he has a Paypal account. I'm just nervious giving out my information and have them use it to collect funds from me. I don't know if that is even possible?
Thanks Ron

[Flyin4Fun]

I think that the only thing you need to give your buyer is the e-mail address you use for Paypal. Your buyer will need an account and then contact Paypal to let them know how much they want to transfer to you. Paypal will then contact you to let you know the payment is ready. You then authorize the transfer. There is no way that your buyer can access your account directly.

If it is a transfer between friends or family, the transfer is free.

If it is a sale, then there is a service charge.

Good luck

[ccrawford]

The only thing they will get is your email address (and maybe your address?). The worst they can do is send you an invoice, which you have to approve before any payment is made from your bank account.

[etekberg]

Be careful with paypal. In a dispute, whether you are right or wrong, it's easy to have the money confiscated from you by paypal. In other words, don't treat is as cash. If it were me, I'd insist on wiring the money, or a money order. If you take a cashier's check or money order, don't treat is as cash either as they are easy to fake.

[Pat Hatch]

Ron, you should just give them your PayPal account name (could be your email address). PayPal will email you when they have the funds. No one can draw money from your account unless they have your account password. Having said that, make sure your password is a good one and change it often. Obviously, you don't want to give anyone your password! I once had my password hacked on PayPal and they hit me for a few dollars (less than $100), and when I filed a claim, PayPal promptly reimbursed me. Just one guy's experience.

[odens_14]

I would strongly suggest insisting on a wire. Paypal is notorious for being buyer friendly on disputes and paypal can and will access your accounts to refund the payment to him. I had a guy try to steal from me on an ebay sale they held my money for almost 3 weeks, even after I provided a USPS delivery confirmation (they did finally give my money back as the guy finally admitted he got it). Also, I calculate the fee on a $10,000 transaction to be $290.30, a bank will surely do a wire for significantly less.

[RV8R999]

+1 for not using Paypal.

They are grossly buyer friendly. Via ebay I sold an operational VOR indicator which I had just removed from one of my airplanes. I cleaned it up, protected the connector with a plastic cover and included installation documentation in a ridiculously well bubble wrapped and foam padded box 3 times the size of the indicator. I sent the box to the buyer. 3 days later the buyer wants a refund because the VOR needle is bent and 5 connector pins were bent over 90 degrees (these were in a recesed enclosure). They claimed the indicator was defecetive upon arrival. What happened in my opinion was they dropped it, then tried to force the wiring connector on backwards bending the pins. Anyway, I disputed the claim with PayPal but after 3 weeks of disputing they refunded the money from my account and left it up to me on how to get the VOR back. I closed my Paypal account after this...

YMMV

[LAMPSguy]

I have had no problems as a seller. You can just get THEIR email and send THEM an invoice. That way you might feel better about not giving out your info.