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  #11  
Old 02-10-2008
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Quote:
Originally Posted by Aasem View Post
The boat sale would not be taxable unless he made a profit.

Anybody seeking to avoid bank records of the transaction is dishonest--and there's no way around that. He might not be cheating you, but he is definitely cheating someone. Don't be too quick to assume it's not you.
Let me add to that: He already lied to you at least once (the bit about the tax motivation), and was stupid enough to insult your intelligence about something anyone with a steady job and sufficient stability to invest money knows about. He's not only dishonest, but an idiot. That's not someone I would ever do business with.

If you go forward, you better have the best surveyor available, and be able to trust him implicitly. (In my experience, most surveyors suck ass.) Trace the title carefully so there's no doubt about it's ownership, pedigree, and history. And, it better be a bargain.

There are plenty of honest people to do business with, and I loath to bail out or enable the dishonest ones.

Caveat emptor.
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  #12  
Old 02-10-2008
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He's already told you he is willing to cheat the government and wants to make you complicit in that...and you're asking if you can trust him?
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  #13  
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Check with the DMV about the boat's title. From the NY DMV FAQ:
Do boats require title certificates?

The DMV issues title certificates for boats that are:

* model year 1987 and newer,
* at least 14 ft. long, and
* registered in New York State.

The title certificate is used for proof of ownership for these boats instead of the registration. Title certificates are not issued for boats that do not match the description above or for boats registered with the Coast Guard. For a boat that does not receive a title certificate, the transferable registration is proof of ownership.
Also check the HIN with the local cops.

You can also decode the HIN to make sure it matches the boat. The first three letters are the manufacturer's identification code.

A surveyor is highly advised. There are still Hurricane Katrina write-off boats being sold by salvage companies. No doubt some of them get patched up, shipped out of the area and sold to unsuspecting buyers. You can search an insurance database at https://www.nicb.org/cps/rde/xchg/nicb/hs.xsl/79.htm, but they claim they don't have every boat in their database (not to mention that HINs can be changed).

When I sell something valuable to a total stranger I want either cash or a cashier's check. Given all the Nigerian scammers conning people with fake cashier's checks, I'd prefer the cash. Maybe I'd tell you I want cash because I don't trust you. Maybe it'd be less insulting to you to tell you I need cash payment "for taxes".

Just a thought.

Good luck,

Tim
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  #14  
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Originally Posted by Gramp34 View Post
Maybe I'd tell you I want cash because I don't trust you. Maybe it'd be less insulting to you to tell you I need cash payment "for taxes".
That's the second attempt I've seen tonight, to find a plausibly benign reason for the seller's obvious lie. Sheesh, don't speculate or make excuses in his favor. Do the opposite! Scrutinize this deal more carefully than any other.
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Old 02-10-2008
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I paid cash for my boat. When I go to sell it, I am likely to want to be paid in cash too, thank you.

Tax has nothing to do with it, but is a fuzzy thing to say to get you off the topic.

In and of itself, it is not suspicious....If it alerts you to be more cautious then be more cautious, if nothing triggers follow-on alarms then go ahead, if you do nto want the boat then move on.

Seriously, cash is part of the transaction stipulated. There is nothing unreasonable about that. Meet the stipulation or find another boat.

I know somoene that bought a boat with 23 camels and a land-rover. He swapped a mildly successful tourist camel safari business for a yacht and sailed off into the sunset leaving the newls circumnavigated owner to get to know his newly aquired camels.

Not standard? So what.

Sasha
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with all the fake bank checks out there and money orders any more cash is not a bad thing
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Old 02-10-2008
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Quote:
Originally Posted by Aasem View Post
Anybody seeking to avoid bank records of the transaction is dishonest--and there's no way around that. He might not be cheating you, but he is definitely cheating someone. Don't be too quick to assume it's not you.
Given the prevalance of counterfit cashier's checks these days, it is understandable to want to deal in cash. I know I do; it's a lot easier than having to get the check verified before signing over the title, and there is no waiting for it to clear. Cash for title, done deal. That's how I like to do it, buying or selling.
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Originally Posted by SailorMitch View Post
BTW, it does sound to me like the guy is up to something. You haven't mentioned price, but banks track large cash transactions and report them to the feds.
It's just under $5,000. He was asking $7,000 for it a year ago, but he hasn't been able to sell it, so I guess he's been lowering the price.
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  #19  
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Wow. Try to focus here, folks!

It's not about wanting cash -- there's nothing wrong with that.

It's about lying to the potential buyer, and incorporating an admitted fraud on the government in that same lie. That's two layers of dishonesty ON THE SURFACE! If that doesn't send up red flags, you're idiots.

Of course, people like you used to keep me in business before I retired. People think lawyers are parasites, but it's idiots like you who are the first to ask us to sue the lying bastards who ripped you off. I'm not talking about the original poster here, but the several who keep justifying the seller's behavior. Get real.
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Old 02-11-2008
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Aasem, I must thank you for giving me an insight into what it must be for somneone to be slapped across the face with one of my own more assertive posts.
I'll have to try and ease it down a bit, lest people have the same reaction as I first had on reading yours.




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