question about PPT payment procedure

[pressgo]

Hello, I am thinking about selling a rifle in a PPT (never done this before), but I am not sure how/when I should be getting payment. The rifle is upwards of $1500. Should I ask for certified check/money order, wait till it clears my bank and then do the PPT? Is that fair? Or should I ask for cash to be handed over at the PPT meeting before signing paperwork? What is the norm? any help appreciated.

[TheExpertish]

By PPT I am assuming you're going to meet at a dealer face to face. That's what PPT means, but it's used out of context quite often. What to do will depend on how far you or the buyer will have to travel to meet. Part of the money up front is fair to ask, and I personally only accept US Postal money orders. Believe it or not I've had a certified cashiers check bounce on me due to a bank error. Cash is king though, but it's really whatever you're comfortable with and making sure the buyer agrees to the terms.

[lorax3]

Cash is always my first choice. Paypal works too provided I receive payment prior to doing the paperwork.

How you wish to accept payment is up to you. Cash is certainly the most common, but for really high value items other payment methods may be more suitable. $1500 is reasonable to ask for cash. If I was selling something for 10K I could understand if the buyer did not want to bring cash, and we could work something out.

Should there be any fraud issues the transferring FFL does have the information of the buyer.

[tenpercentfirearms]

I would get cash and I would hold the money up to the light and make sure Ben Franklin is in each one of the hundreds. My cousin sold a dirt bike for $2400 cash once and every single bill was fake.

It is up to you. I would request cash as the transaction is over and one with.

[kemasa]

Cash is always my first choice. Paypal works too provided I receive payment prior to doing the paperwork.

Paypal is anti-gun and I have heard that they will close your account if they find out that it was a firearm. They can also contest the charges.

Cash at transfer or a money order in advance would be best.

[lorax3]

Paypal is anti-gun and I have heard that they will close your account if they find out that it was a firearm.

This is true, and it will only take one mistake to get your account closed. That being said, I've done plenty of transactions over paypal and is fine so long as no one mentions anything gun related.

I wish there was a paypal like service that was not anti-gun!

[greybeard]

If you doing FTF cash. If it needs to be shipped. You get paymant after payment clears ship product. Rmemeber to inform the other party of all this. If either have a problem with this move on.

[easyPZ]

This is true, and it will only take one mistake to get your account closed. That being said, I've done plenty of transactions over paypal and is fine so long as no one mentions anything gun related.

I wish there was a paypal like service that was not anti-gun!

Intersting, how about firearm accessories. ie. Magazines, grips, sights, lights, ammunition, et cetera.

Edit: nvm, found it.

Q What types of firearms related items does PayPal prohibit?

Question :
Answer :
A PayPal prohibits all account holders from buying or selling any type of firearm and certain firearm parts and ammunition. PayPal may allow certain U.S. merchants to sell items addressed by this policy if they have been approved by PayPal and can ensure transactions and shipments comply with all applicable laws and regulations.

Firearms – Include all rifles, shotguns, and handguns, whether they are intended for use in sporting, as collectibles, or as curio and relic firearms. These items are prohibited regardless of their present working order.

Firearm parts - Include, but are not limited to, receivers and frames, silencers, kits designed to convert a firearm to automatic firing capability, high capacity magazines, multi-burst trigger activators, and camouflaging firearm containers.

Ammunition - Includes ammunition with propellant, such as gunpowder or blank ammunition. Ammunition is defined as ammunition or cartridge cases, primers, bullets, or propellant powder designed for any firearm.

Stun guns - For U.S. residents, PayPal allows transactions for stun guns only if the transaction is permitted by law in both the buyer's and seller's jurisdictions. U.S. sellers must ensure that each transaction is legal in both locations before completing the sale. Transactions for stun guns involving account holders outside the U.S. are prohibited.

Other Related Items – PayPal allows transactions for paintball guns, blank guns, and air-soft guns as permitted by law in the applicable jurisdiction. These items must display all markings required by law, must not be convertible to shoot a lethal projectile, and must not include blank ammunition.

New thought. High capacity magazines are prohibitted, so your CA compliant 10 rounders are good to go. Right?

[kemasa]

I don't know much about it, but you might want to check out dwolla.com. It was mentioned on an email list that I am on.