The Transactio: Part 2

In part one, we learned that the buyer bears the burden of verifying the identity and condition of the car for sale. Checking paperwork, matching numbers, and a call to the Department of Motor Vehicles will confirm a vehicle’s pedigree and legitimacy. But the buyer remains only one half on this transaction; the seller has the power to set the terms of payment to complete the deal.

A smart and seasoned seller always demands cash. Cash needs no explanations. Cash asks no questions. Cash has no substitute. Cash ends all doubts. A bag of money will satisfy any seller and validate any buyer. Cash brings a smile.

Any negotiation about the method of payment should warn a seller. A personal check, even from a known associate, has no value. Checks can be stopped. Checks can be forged. Checks can be stolen. A kind smile and a pledge of validity empower no check. No seller should ever take a personal check.

A certified check should be avoided too. They can be forged quite easily and quickly given the power of modern technology and printers. A certified check is valid if the seller accompanies the buyer to the bank and witnesses the buyer draft the document. That way the seller can ask the bankers if the seller has the funds to cover the amount. However, the seller cannot delay in transferring the funds because even certified or cashier’s checks have ways of being voided. Again, the seller only has the money when actual money hands.

If the transaction demands a larger sum of money, more than fits in a grocery bag, then creative and secure measures must be taken. A quick story will illustrate the point.

The seller of a particular and valuable muscle car demanded a large sum of cash in small bills. The buyer agreed to the terms. He had to visit four banks to secure the amount, and he needed a means of transporting the bills without alerting the local bandits. He placed the money in a large cooler. When he made delivery, it looked as if he brought the drinks to a back yard barbeque. The buyer drove away in the muscle car. The seller buried the cash in the back yard. Both seller and buyer were delighted.  Every transaction should end that way.

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