I need paypal help

Midnite Mick

I am new to paypal and am unsure how it works. I am about to sell something and somebody wants to pay a portion of it up front and then the remainder after. He says he doesn't know what assurances he has either. Anyway, here is the email he sent me. What do you think?

Hi Mike,

Sorry to keep you waiting. After considering several options, I have decided to take you up on the offer below if the unit is still available.

Although I am sure everything will go smoothly, I have heard others' experiences with paying and not receiving goods (I usually deal locally). Would it be possible for me to pay a portion via Paypal, and then the remainder once received? Or if you have any other ideas, let me know. (Just being cautious, I hope you understand).

Let me know if this sounds good and the 'what and how' in terms of payment you think is acceptable.

Thanks,
Dave.

heiney9

I'm only familiar with PayPal as it pertains to E-bay transactions and if done thru e-bay their is no option for partial payment outside of a payment plan which is essentially a line of credit extended to the buyer by PayPal. The seller gets full payment and the buyer pays in installments (not what you are looking for). Now I'm pretty sure you can set up an account with PayPal for the transfer of monies outside of E-bay transactions, but it's not going to be free. I'm sure there is a set-up fee plus all the fee's involved in the actual transaction. If this is a one time thing the fee's might be prohibitive.

ben62670

I wouldn't accept a partial payment because he might be able to say it was a full payment. Are you selling through Ebay? I always make sure I am paid in full before I ship anything.
Ben

DarqueKnight

Hi Dave,

Usually, the way things work in most business transactions is that payment is tendered before products are delivered.

Although I am sure everything will go smoothly, there is the very real possibility that someone would pay a small deposit and then "disappear" after receipt of goods. With regard to Paypal, if the goods are shipped from a confirmed seller to a confirmed buyer, both parties have some protection against fraud. Most shippers also have provisions for collect on delivery (C.O.D.) for an additional fee.

Thanks,
Mike

Midnite Mick

Canuck Audio Mart. It is our Audiogon. CAM just lets you list free of charge they have nothing to do with the transaction, it is private.

Mike

edit: nice letter

what is the protection against fraud? He also has 6 feedbacks and all are positive

F1nut

Another option would be use an escrow company, such as www.escrow.com There is a fee and it's normal for the buyer to pay it.

No way in hell I'd agree to what he is asking.

Refefer

I've had good luck with www.escrow.com as well. The idea is pretty simple: you ship it there and the seller sends the money there, and when it's determined everything is good and dandy, the money is sent to you, and the unit is sent to the buyer. If for any reason one of you don't come through, or the unit is not in the condition expected, money is returned to the buyer and/or unit is returned to the seller.

I've found the fee to be very reasonable and it certainly makes me feel better to have that extra safeguard.

Midnite Mick

Thanks for the help all. I mentioned the escrow.com to him, but he just agreed to pay in full. He paid, I sent.

Thanks,
Mike

ben62670

Good deal Mick

reeltrouble1

I would suggest moving the funds from your paypal account immediately.

RT1

Midnite Mick

reeltrouble1 wrote:

I would suggest moving the funds from your paypal account immediately.

RT1

I just took your advice. Are you saying that he would still have access to this money or cancel the payment? I don't know anything.

Thanks,
Mike

heiney9

Midnite Mick wrote:

I just took your advice. Are you saying that he would still have access to this money or cancel the payment? I don't know anything.

Thanks,
Mike

Yes, if he files some sort of dispute (even if if there is no reason) PayPal can freeze the money until the dispute is resolved. It's always better to move the money out of PayPal into your bank account or check issued, etc.

brettw22

Yes........

I know that happens because I had a seller take my money on a golf club once then disappear for over a week and completely stop responding to emails. I filed a complaint with Paypal which freezes their account and obligates the seller to provide proof of shipment (tracking number). He never provided that and my money was refunded to me which saved me for a few hundred.

Sellers should protect themselves as much as buyers, and if that means that you have a buyer acting shady, then you're always better to not ship the item until the money has been transferred to your bank account (3-5 business days). That's a minimal amount of time for the buyer to wait to ensure that you aren't going to get screwed over.