When you’re ready to sell your yacht, sailboat, or powerboat, you should familiarize yourself with common internet scams. From personal information theft to fraudulent payments, the online market poses a variety of potential threats. Below, you’ll learn more about boat sale scams and how to avoid them.
4 Types of Online Boat Buying Scams
If the person interested in buying your vessel sends you emails that contain links to banks or escrow companies, consider this a red flag. In many cases, scammers do this to steal your identity and withdrawing funds from your account. Beware of suspicious links, and never give out your personal information upfront.
2. Fake Checks
A scammer may send you a fake check or money order in the mail, expecting you to deliver the ship prior to cashing the payment. As soon as you receive a check, have it verified by your bank before handing over the boat to the potential buyer.
3. Use of Middleman
Some scammers may try to use an intermediary to avoid direct suspicion. However, if the third party isn’t an authorized dealer, be wary of transferring funds to them.
4. Offer Made Before Seeing Boat
You might receive offers from potential buyers before they have seen your boat. While the amounts may impress you, this is most likely a scam. Legitimate buyers will want to inspect the vessel and get all the specifications on it before making an offer.
When you’re ready to sell your boat, allow World Class Yacht Sales Inc. to assist you. For over 15 years, they have provided sailboat, yacht, and powerboat sales, including buy-back opportunities, to New Port Richey, FL, clients. Call (727) 945-7500 to sell a boat or ask about used models currently in stock. Visit them online to browse their inventory and request a free market analysis.