Poll PPT escrow service

[cler1c]

I’ll definitely use this service for any PPTs upward of $2K

 

[RustyIron]

Hi all, as you may know I am a lawyer with my own law firm.

by acting as an escrow for the parties and also taking payments by card.

Of course I would have to charge for doing this,

Yeah, nah.

I'm perfectly fine doing business the old fashioned way. If someone wants to buy what I'm selling, they hand me a stack of cash, we shake hands, and we walk away. If they're the sort of joker who isn't sure, who wants the option to change his mind at a later date, then maybe that person should just look elsewhere.

It's been my experience that when you start muddying the waters with extra rules, conditions, options, and caveats, the only ones who win are the lawyers.

 

[Plenty_Pack_556]

Is a drive-by FFL/ FFL on wheels be legal/ viable? Like going city by city, town by town with an armored truck of sort to conduct FFL business, and/or drive-by/park near gun buybacks.

 

[damngato]

Cool thought but I wouldn't use it. Performed a ton of PPTs (as both buyer and seller) and never had an issue with any of them.

 

[Coolguy]

I wish there was a way for someone like me in Northern Norcal who finds an off-roster handgun but it's in Socal to be able to buy PPT somehow without having to travel a very long distance. Heck years ago, I drove 2 hrs one way to buy a Jerry Miculek 625 and 10 days later do it again, Total 8 hrs on the road. It was worth it at the time.

My uncle decided to give me all his guns one day. We live about 6 hours away from each other, so I found an FFL around the half way point to do the PPT. 3 hr drive each way, two times. It was worth it in the end because of all the guns and ammo he gave me but I'll never do that again.

 

[Coolguy]

Is a drive-by FFL/ FFL on wheels be legal/ viable? Like going city by city, town by town with an armored truck of sort to conduct FFL business, and/or drive-by/park near gun buybacks.

you might be able to start the DROS, like they do at gunshows, but pickups have to be at the brick and mortar registered FFL address only.

 

[couragewolf]

I’ll definitely use this service for any PPTs upward of $2K

Have you sold guns for over 2k and people show up and don't actually have the money or they start trying to haggle down before filling out the dros?

Maybe I'm having uniquely good experiences but I always have cash in hand before paperwork starts as agreed anytime I'm doing anything like this. If you communicate well with the person before meeting face to face seems easily achieved.

 

[cler1c]

Have you sold guns for over 2k and people show up and don't actually have the money or they start trying to haggle down before filling out the dros?

Maybe I'm having uniquely good experiences but I always have cash in hand before paperwork starts as agreed anytime I'm doing anything like this. If you communicate well with the person before meeting face to face seems easily achieved.

I haven’t. All my PPT’s have been a wonderful experience and frankly, I’ve never heard of anyone being scammed or had an unpleasant experience. But that doesn’t take away from the fact that if such service is available AND convenient enough, I’ll gladly pay a fee for insurance for more peace of mind.

 

[couragewolf]

I haven’t. All my PPT’s have been a wonderful experience and frankly, I’ve never heard of anyone being scammed or had an unpleasant experience. But that doesn’t take away from the fact that if such service is available AND convenient enough, I’ll gladly pay a fee for insurance for more peace of mind.

Thanks for clarifying I was genuinely wondering if someone would pay for this unless they were doing extremely high value or high volume transfers.

 

[ef9boy88]

Have you sold guns for over 2k and people show up and don't actually have the money or they start trying to haggle down before filling out the dros?

Maybe I'm having uniquely good experiences but I always have cash in hand before paperwork starts as agreed anytime I'm doing anything like this. If you communicate well with the person before meeting face to face seems easily achieved.

I've had people try to haggle on stuff once in person, then they try things like "well we're already here" or insist on meeting near them and use the "You're drove all the way over here".

 

[Plenty_Pack_556]

I've had people try to haggle on stuff once in person, then they try things like "well we're already here" or insist on meeting near them and use the "You're drove all the way over here".

I've had 1 person do that. And I sold it to him anyways because it was a regret gun I really wanted to get rid of, and wasn't a loss.

 

[H. Bowman]

I've had people try to haggle on stuff once in person, then they try things like "well we're already here" or insist on meeting near them and use the "You're drove all the way over here".

That's when you raise the price on them. F 'em if they're going to be dirtbags after agreeing on a deal. Every time they try, the price goes up.

 

[couragewolf]

I've had people try to haggle on stuff once in person, then they try things like "well we're already here" or insist on meeting near them and use the "You're drove all the way over here".

I can imagine, but sounds like a pretty unlikely occurrence. I had a guy haggle once we were at the store and I didn’t really mind cutting him a little off it was more of a convenience to me to be done with it.

No one is talking about the buyer perspective. Would you buy a gun ppt that required escrow? What if you see then in in person and you’re not into it?

 

[kemasa]

Is a drive-by FFL/ FFL on wheels be legal/ viable? Like going city by city, town by town with an armored truck of sort to conduct FFL business, and/or drive-by/park near gun buybacks.

No. There has to be an actual premises and business has to be conducted at the premises or at gun shows.

 

[Chewy19]

I like the idea and believe that raelic can figure out which laws and regulations he will have to meet. He may want to set up this business so that he holds the buyer's payment until the seller provides proof of the commencement of a DROSS; that electronic receipt of a copy of the paperwork initiating the DROSS authorizes him to release the escrowed funds to the seller unless demand is made by the buyer in XXX hours disputing the firearm's delivery to the transfer FFL. Include provisions for dispute resolution (arbitration and jurisdiction) as well as costs of resolving any dispute.

 

[RustyIron]

Have you sold guns for over 2k and people show up and don't actually have the money

If I show something, I do it with the belief that the buyer intends to buy it on the spot. My question before I give out the exact location is, "Is the truck ready to go, and do you have the cash in your pocket?" If the answer is anything other than "yes and yes," or "I need to stop by the bank on the way," then I tell them to contact me at a time when they're ready to buy.

A while back I was selling something for $100. The dude was trying to lowball me and used the amateur line, "All I have right now is $80." I suggested he ask his mom for an advance on his allowance. Apparently he took offense and asked, "Just how old do you think I am," to which I replied, "Someone not old enough to have twenty bucks so he has to ask his mom for a loan." He didn't buy the item, but I still get a chuckle out of his naiveté.

 

[couragewolf]

If I show something, I do it with the belief that the buyer intends to buy it on the spot. My question before I give out the exact location is, "Is the truck ready to go, and do you have the cash in your pocket?" If the answer is anything other than "yes and yes," or "I need to stop by the bank on the way," then I tell them to contact me at a time when they're ready to buy.

A while back I was selling something for $100. The dude was trying to lowball me and used the amateur line, "All I have right now is $80." I suggested he ask his mom for an advance on his allowance. Apparently he took offense and asked, "Just how old do you think I am," to which I replied, "Someone not old enough to have twenty bucks so he has to ask his mom for a loan." He didn't buy the item, but I still get a chuckle out of his naiveté.

I’ve shown up to buy stuff and it’s looked way worse in person than the pictures so I don’t begrudge people wanting to qualify their purchase price once they’ve physically assessed what they’re buying. That said I just can’t really wrap my head around this being enough of a problem to pay someone just in case it happens to prevent it.

 

[raellic]

I like the idea and believe that raelic can figure out which laws and regulations he will have to meet. He may want to set up this business so that he holds the buyer's payment until the seller provides proof of the commencement of a DROSS; that electronic receipt of a copy of the paperwork initiating the DROSS authorizes him to release the escrowed funds to the seller unless demand is made by the buyer in XXX hours disputing the firearm's delivery to the transfer FFL. Include provisions for dispute resolution (arbitration and jurisdiction) as well as costs of resolving any dispute.

That's exactly the intention. If I'm a neutral third party and an attorney, the parties can appoint me as a private judge and I can resolve any disputes just like a public court judge. The difference is it will save the parties two or three years of their lives and a huge amount of attorney fees to have their escrow dispute decided promptly and efficiently by the same person who holds the escrow funds. I would create the escrow instructions/triggers/terms of service from what people actually need in these scenarios. If I get a FFL, I can do transactions all under one roof and that would be even better. I'm pursuing the FFL, just need to see what hoops they have for me to jump through in Redwood City to get a retailer permit. Planning already told me I don't probably need a use permit for what I'm doing if it's just appointment only and online transactions in the Commercial Park zone where my office is. Still need the police department permit before I can pursue any State licensing. That's going to be the tough one, I think.

 

[TacticalBean]

Personally, I’d never use this service.

Seller perspective: “What do you mean I’m supposed to give you the firearm(s) and wait 10 days before I see payment?! I need the money now! This buyer is trying to scam me!” Also, if a seller has multiple buyers, this would be a turn off and I’d skip to a buyer that doesn’t have this as a requirement for the transaction.

Buyer perspective: “Who the hell is this third party? I’m not paying them anything. We don’t need an escrow service, I’m good on my end.”

FFL perspective: “None of my business. I don’t get paid enough for this.”

With all parties you’ll likely still have a trust factor. Might make sense in high dollar transactions, but are there really a lot of these happening here?

 

[mblat1968]

I wish there was a way for someone like me in Northern Norcal who finds an off-roster handgun but it's in Socal to be able to buy PPT somehow without having to travel a very long distance. Heck years ago, I drove 2 hrs one way to buy a Jerry Miculek 625 and 10 days later do it again, Total 8 hrs on the road. It was worth it at the time.

This.


I can think of at least two more guns I would have bought if I something like this would be available