Wire transfer for Equipment Sale???

T.C. in Tx · Feb 2, 2011

I am located in central Texas and have an old International bulldozer for sale. So a guy calls me from Mexico and we talk about the machine. Then he says he will talk to his partner and if they decide to buy it he will send a wire transfer for the money involved--apparently from a US bank but I am not sure.

My suspicions immediately went up so I called my banker and asked how to handle this. What she did was set up a dummy account number and wire instructions that could be used for both domestic and international wire transfers. Bank staff have been told that if they receive a transfer for this account that it is to be deposited in my account. This way the purchaser does not have access to my bank information.

Also they said the funds could be guaranteed the same day for domestic and at least by the next day for international transfers. That would be adequate time before the machine would be picked up.

Question is--does this plan sound OK to those of you with experience? I don't want to risk losing the machine if the funds turn out bad.

JB in Tx · Feb 2, 2011

No Cash No Machine!!

Anonymous-0 · Feb 2, 2011

I could see where someone could be concerned about carrying around cash in MX and crossing the border with it assuming they made it that far.
Just make them wait til the bank gaurantees you have the money and it is in your account.

Dave

Anonymous-0 · Feb 2, 2011

If they didn't even ask for more information and/or pictures of the dozer, you know they are trying to scam you. I'd try to sell it locally to someone who isn't hundreds of miles away in Mexico. If it sounds like a scam, it probably is. Not worth the hassle in my opinion. Dave

2x4 · Feb 3, 2011

follow your bankers advice & you can't get hurt. Once it's in your account, its better than in your hand.

d9gdon · Feb 3, 2011

There's no way you can get burned if the bank will set up the account for a one time use for the wire transfer. Once the buyer's put the money in there and you've transferred it, they can't get it back. I've bought dozers without going to look at them before. It's an old International dozer you say, so can't be too much money. Maybe they're used to buying equipment worth hundreds of thousands so don't feel the need to come look at it. Some of our friends from down south have lots of backing.

By the way, I'm from Central Texas area myself. Just west of Waco.

I sold a bunch of equipment in the Ritchie Bros Auction last September in
Ft Worth and there were a bunch of foreign buyers scooping up bargains.

I'd make that sale in a heartbeat.

Tx Jim · Feb 3, 2011

I sold some tractors to a YT regular that lives several states north of me. He sent the money via wire transfer. No problem other than my bank charging me to accept/deposit the money which I thought was bull.

Wire transfer for Equipment Sale???

T.C. in Tx

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JB in Tx

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Anonymous-0

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Anonymous-0

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2x4

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d9gdon

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Tx Jim

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