Large Facebook Group Sale

[buyerbrad]

Hi all,

I normally stick to this board or Ebay when selling. However, I have just agreed to sell a large lot to a person on a Facebook group. The references all check out, but what other precautions should I make as the seller? We have agreed for payment through Paypal. Anything I should know about private sales and chargebacks, etc?

 

[terry1hockeyfan]

Check references and vouches. If they check out, you should be good. I would also check the buyer's facebook profile to make sure it seems legit. As the seller, you are safer with f&f, as opposed to g&s with paypal.

 

[frankiefives]

Vouches are really important, especially if there are some names that you recognize. As mentioned above, F&F protects you but the buyer may not want that. Facebook is filled with scammers these days but most of them are on the seller side.

 

[Triple B]

I always cross-reference names in the Sportscards Scammers group on FB. It has saved me a few times.

 

[gregggyf]

Vouches are really important, especially if there are some names that you recognize. As mentioned above, F&F protects you but the buyer may not want that. Facebook is filled with scammers these days but most of them are on the seller side.

Good Evening, If the buyer insists on F&F .... would that be because of the 3% additional fee that the buyer would have to incur?
Maybe if the seller wants the deal to occur he can volunteer to absorb 3% of the final cost and be protected.

 

[BrookIsland]

Other issue with G&S (at least if you're in the US) is the automatic generation of a 1099 going to you and to the IRS for the money that goes through PayPal (assuming in 2023 you've received more than $600 from G&S sales). You can address this if you have good records to show your tax basis in what you've sold but just something to consider as well. May be less relevant in Canada but defer to the Canadians on that point.

 

[winniescards]

Good Evening, If the buyer insists on F&F .... would that be because of the 3% additional fee that the buyer would have to incur?
Maybe if the seller wants the deal to occur he can volunteer to absorb 3% of the final cost and be protected.

I do not understand why any buyer would insist on family and friend. I certainly understand the seller wanting to use it.
The seller may want to save on that 3% fees that are charged by pay pal.Also they may be a scammer and as you
well know there is no recourse through pay pal if you send money family and friend. I know I have stopped using
it unless it is someone that I have done multiple deals with or is in fact family and friend. I simply just pay the 3%
fees so the seller so that the seller receives the full asking price.I certainly understand that the tax man has
certainly become a factor in this as well. If you are a seller and doing a lot of business than it is also a way to
avoid them. At least for a while.

So if you know why a buyer may want to use family and friend I would like to know.I may want to use it myself.:devil:

 

[norstrom]

I do not understand why any buyer would insist on family and friend. I certainly understand the seller wanting to use it.
The seller may want to save on that 3% fees that are charged by pay pal.Also they may be a scammer and as you
well know there is no recourse through pay pal if you send money family and friend. I know I have stopped using
it unless it is someone that I have done multiple deals with or is in fact family and friend. I simply just pay the 3%
fees so the seller so that the seller receives the full asking price.I certainly understand that the tax man has
certainly become a factor in this as well. If you are a seller and doing a lot of business than it is also a way to
avoid them. At least for a while.

So if you know why a buyer may want to use family and friend I would like to know.I may want to use it myself.:devil:

I wonder last person I paid in Canada I saw paypal take almost 4% in fee, could someone explain that as I am not the best on paypal.
I am glad I almost every time pay as goods as I was protected and got my money back whem a deal didn´t go as it should have.

 

[winniescards]

I wonder last person I paid in Canada I saw paypal take almost 4% in fee, could someone explain that as I am not the best on paypal.
I am glad I almost every time pay as goods as I was protected and got my money back whem a deal didn´t go as it should have.

I really cannot explain it other than pay pal is like a credit card. And every time that you use your credit card the store/ business looses about 4% on every sale.So I see it as the same thing.But I am sure that there are a lot of people on here that know the reason a lot better than I do. But when you send pay pal family and friend than you pay those fees so the seller gets his full amount. The problem with that is,like you stated above there is no protection for you as a buyer.If the seller is a scammer than you are out your money. If the package gets lost than you are out your money.

 

[norstrom]

I really cannot explain it other than pay pal is like a credit card. And every time that you use your credit card the store/ business looses about 4% on every sale.So I see it as the same thing.But I am sure that there are a lot of people on here that know the reason a lot better than I do. But when you send pay pal family and friend than you pay those fees so the seller gets his full amount. The problem with that is,like you stated above there is no protection for you as a buyer.If the seller is a scammer than you are out your money. If the package gets lost than you are out your money.

Thanks for your answer! I think I paid it thrue my creditcard and therefor perhaps paypal take more fees.

 

[winniescards]

Thanks for your answer! I think I paid it thrue my creditcard and therefor perhaps paypal take more fees.

Yes when I send money outside Canada even as family and friend they charge me a much higher fee.