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Farmall & IHC Tractors Discussion Board |
Re: Re: Re: off subject - continuing fraud on sale
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Posted by Wardner on April 24, 2004 at 08:06:50 from (4.138.240.7):
In Reply to: Re: Re: off subject - continuing fraud on sale of posted by Jeff on April 24, 2004 at 07:30:01:
I agree. The seller is in control. He has the tractor and the check. All he has to do is turn the check over to the bank and wait for it to clear. If it doesn't, there is no sale. The buyer should be made aware that the sale is conditioned by the receipt of a good check and extended until cleared. Where is the risk? Of course, I think that most sellers are expecting to sell for cash to avoid tax liabilities on a capital gain of fully depreciated property. That is a scam in itself.
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