Fraud Awareness Tips for Boat Sellers

By Staff Writers



Palm Harbor, FL -- Selling a boat to a buyer who found your boat advertised on-line is similar to selling anything else through a classified ad or other source. When selling a boat to someone who found you on, use your best judgment.


Confirm Contact Information

Be particularly wary of buyers willing to purchase your boat sight-unseen. Always verify the buyer's street address and phone number. Zip codes, area codes, and addresses should match. Be especially cautious if the buyer is located overseas.


Secure payment first

Do not release to your boat until you have payment in hand at the agreed upon price.


Verify Payment is Genuine

Before you deposit a certified check, cashier's check, money order, or personal check, verify authenticity with the issuing bank - NOT JUST YOUR BANK. Make sure the account contains sufficient funds and the issuing bank guarantees payment on the check. The check has not cleared just because your bank has accepted it and credited the funds to your account. It may take a week or more for the check to clear.


Beware of Overpayment and Other Complicated Payment Schemes

Don't agree to any plan where the buyer asks to send a check for more than the sale price and requests that the seller refund the difference. And be suspicious of any buyer who proposes making payment through a friend or agent of the buyer.