Money Market Pawn WON'T Hold Firearm in Private Transfer While BGC is In Queue

[washagonian]

Posting this incase you want to do a transfer at Money Market Pawn and ABSOLUTELY want them to hold the firearm until the BGC clears. They won't do that anymore.

I bought a new firearm online, shipped to Money Market Pawn (MMP) - where I do most of my transfers since it's close to where I live.

Did the 4473 last Monday - Feb 19, was approved in about 10 minutes.

During the wait, I was talking to one of the long-time employees and he said that the ATF had been in about a month prior and did a full audit - took about a week. YOUZERS!

He said that MMP came out clean as a whistle.

As a result of the audit and consultation with the head ATF person doing the audit, MMP has decided to NOT HOLD A FIREARM in a private transfer, if the BGC doesn't go through immediately.

The seller will keep the firearm and the buyer will keep their money (minus $10 for the BGC) and go home. When, and if, the BGC clears, then MMP calls both buyer and seller, they come to MMP, they exchange firearm and money and the buyer pays MMP their $30 transfer fee.

The reason - as he explained it to me is - that when MMP takes a firearm to hold they have to log it into their books. Then, when the seller picks up the firearm, they log it out as a transfer. BUT if the buyer doesn't pass the background check and MMP can't transfer the firearm to the buyer, and the seller already has the money from the buyer, then MMP is put in the middle of a sticky situation on two fronts. First, what to do with the firearm. Second, the difficulty of their role in a conflict that could arise between buyer and seller IF the seller REFUSES to give the buyer back their money and re-take possession of the firearm.

So, MMP won't hold firearms in a private transaction.

Now, this is NOT a new practice. Many small local gun shops have done it this way for a long time. And, a lot of sellers and buyers have done it this way, even if the LGS will hold the firearm until the BGC cleared.

Just an FYI.

TWYLALTR.

Cheers.

Read More

 

[Xmark1]

Posting this incase you want to do a transfer at Money Market Pawn and ABSOLUTELY want them to hold the firearm until the BGC clears. They won't do that anymore.

I bought a new firearm online, shipped to Money Market Pawn (MMP) - where I do most of my transfers since it's close to where I live.

Did the 4473 last Monday - Feb 19, was approved in about 10 minutes.

During the wait, I was talking to one of the long-time employees and he said that the ATF had been in about a month prior and did a full audit - took about a week. YOUZERS!

He said that MMP came out clean as a whistle.

As a result of the audit and consultation with the head ATF person doing the audit, MMP has decided to NOT HOLD A FIREARM in a private transfer, if the BGC doesn't go through immediately.

The seller will keep the firearm and the buyer will keep their money (minus $10 for the BGC) and go home. When, and if, the BGC clears, then MMP calls both buyer and seller, they come to MMP, they exchange firearm and money and the buyer pays MMP their $30 transfer fee.

The reason - as he explained it to me is - that when MMP takes a firearm to hold they have to log it into their books. Then, when the seller picks up the firearm, they log it out as a transfer. BUT if the buyer doesn't pass the background check and MMP can't transfer the firearm to the buyer, and the seller already has the money from the buyer, then MMP is put in the middle of a sticky situation on two fronts. First, what to do with the firearm. Second, the difficulty of their role in a conflict that could arise between buyer and seller IF the seller REFUSES to give the buyer back their money and re-take possession of the firearm.

So, MMP won't hold firearms in a private transaction.

Now, this is NOT a new practice. Many small local gun shops have done it this way for a long time. And, a lot of sellers and buyers have done it this way, even if the LGS will hold the firearm until the BGC cleared.

Just an FYI.

TWYLALTR.

Cheers.

Thank you for the good info.
It is sad.

Gone are the days when a man can just buy a firearm and go plinking on an old tin can.

 

[.45's and .38's]

Yes if they are not instant approval I won't do the deal there and will take my business to Steve at adaptive firing solutions. Which I should have just done in the first place.

 

[Andy54Hawken]

$30 transfer fee....sure beats the $50 transfer fee, the local FFL charges.
Still PITA the FFL won't hold the firearm.....I understand the reasoning....just another PTIA for everyone involved.

Miss the days when you saw a firearm in a classified ad or gun show....
Came to an agreement over the price or trade and went home with a new to you gun the same day.
Andy

 

[orygun]

I understand the process that MMP does, but they in no way have the right to decide that the buyer keep their money. That's a condition only discussed between the buyer and the seller.

 

[peteNW503]

I like them for basic transfers when I buy online otherwise they lost my business. It's to much of a hassle to get both parties to meet up again IMO. Plus they are super picky about the whole brace thing still. While I understand they have a need to protect themselves as a business it also inconveniences the consumer greatly. I have sold quite a few with them and the last few have been at Hummel arms with Terry. Good guy good service and he holds the gun and accepts braced pistols imagine that. MMP is a good outfit but the little things are starting to add up.

 

[TTSX]

There's no way I'd be willing to use an FFL that doesn't hold onto the gun. Meeting up once is often a hassle enough, forget having to do it twice. And usually I deal with people from Portland and we make a mutually agreeable transaction in Salem so we both have an hour drive each way. Nobody wins in that situation, including the shop due to lost revenue from people just like myself

 

[Soli]

The process is the punishment.

Fundamental to all gun control legislation and ATF et. al. procedures for a long time now. I don't blame the FFL. They have become the front line and until I'm there with them got no leg to stand on doing that. Makes me appreciate the risk takers even more.

 

[hongkong2]

How about a legal document between the buyer, seller and FFL stating that if the buyer does not pass the BGC then the seller keeps the funds and the FFL gets to put the firearm on consignment, the buyer gets paid when it sells. It may sound harsh but the buyer should know if he can pass the BGC...

 

[Certaindeaf]

Just ain't no more meat on that bone!

 

[CountryGent]

Miss the days when you saw a firearm in a classified ad or gun show....
Came to an agreement over the price or trade and went home with a new to you gun the same day.

Same.

 

[VinnieBoomBah]

I appreciate that they took the time to explain the situation to you. As for when the money exchanges hands, don't see that they can do much more than express an opinion on it, if they don't have the firearm and the buyer fails the BGC MMP's part is done they have no reason to talk to the buyer or seller again. If I was a seller and the buyer insisted on doing the transfer there I would probably insist on prepayment and have the buyer sign an agreement that if they fail the BGC there is a set 'restock' fee and they don't get all of their money back

 

[Koda]

The seller will keep the firearm and the buyer will keep their money (minus $10 for the BGC) and go home.

Thats a really bad idea for the seller, if the buyer clears the BGC but decides they no longer want the gun. The gun is now registered in the buyers name.

 

[washagonian]

Thats a really bad idea for the seller, if the buyer clears the BGC but decides they no longer want the gun. The gun is now registered in the buyers name.

Actually, that's not how it would work from what I understand. The 4473 DOES list the firearm, but the firearm is NOT transferred until the "transfer" is completed by the FFL. So, if the buyer fails the BCG, the weapon is still owned by - and in the possession of - the seller.

 

[Koda]

Actually, that's not how it would work from what I understand. The 4473 DOES list the firearm, but the firearm is NOT transferred until the "transfer" is completed by the FFL. So, if the buyer fails the BCG, the weapon is still owned by - and in the possession of - the seller.

Once the BGC clears what does the FFL need to do to make it official?

And to clarify, Im only talking about if the BGC is approved or clears, the gun is now registered to the buyer by the state.

 

[washagonian]

Once the BGC clears what does the FFL need to do to make it official?

And to clarify, Im only talking about if the BGC is approved or clears, the gun is now registered to the buyer by the state.

So are you saying that when a BGC clearance number is returned to the FFL by Oregon State Police, that the creation by OSP of the approval "number" is when the transfer actually happens, without any other process implemented by the FFL? That's not my understanding of the process.

If that is the case - that the BGC clearance number EFFECTS the transfer - then what is the additional "transfer fee" charge for?

Is there an FFL following this thread that can clear this up for us. Thx.

 

[Koda]

So are you saying that when a BGC clearance number is returned to the FFL by Oregon State Police, that the creation by OSP of the approval "number" is when the transfer actually happens, without any other process implemented by the FFL? That's not my understanding of the process.

no, its my understanding thats when the registration takes place.

If that is the case - that the BGC clearance number EFFECTS the transfer - then what is the additional "transfer fee" charge for?

Ive always assumed it was for them submitting the form and holding the gun and entering it in their records.

 

[washagonian]

no, its my understanding thats when the registration takes place.

Ive always assumed it was for them submitting the form and holding the gun and entering it in their records.

If that's the case, then there is no advantage for Money Market Pawn to enact this new policy.

If the process is that when they submit the 4473 and the BGC clears and the approval number is provided that THE TRANSFER IS DONE, then the seller is holding a firearm that is no longer his/hers. So, having the seller keep the firearm until the BGC clears actually creates more of a problem for MMP. Now they have to get the firearm from the seller - who is no longer the owner because the BGC cleared and the approval number was issued by OSP - and get that firearm to the buyer. If the seller decides to back-out of the transction - that is the same issue that MMP is trying to avoid on the buyer's side.

I don't think MMP would change their procedures to make it more difficult, rather than less difficult.

Again, it's my understanding that when a BGC clears and an OSP approval number is issued, the transfer still is not complete. It's the OSP approval number that is used on the transfer paperwork submitted by the FFL when THE FLL DELIVERS THE FIREARM TO THE BUYER - i.e, the seller and buyer return to the FFL, the FFL technically logs-in the firearm from the seller and then logs-out the firearm to the buyer as the FLL's witness the buyer take possession.

If this is not the process, then MMP's change in procedure makes no sense.

Again, just my opinion and understanding.

Cheers.

 

[Koda]

Again, it's my understanding that when a BGC clears and an OSP approval number is issued, the transfer still is not complete. It's the OSP approval number that is used on the transfer paperwork submitted by the FFL when THE FLL DELIVERS THE FIREARM TO THE BUYER - i.e, the seller and buyer return to the FFL, the FFL technically logs-in the firearm from the seller and then logs-out the firearm to the buyer as the FLL's witness the buyer take possession.

I haven't considered this angle so you could be correct. I do know the OSP keeps a registry of who bought the gun, so I saw it as the sale complete once the approval is given the FFL has to transfer the gun. The FFL also keeps a registry on each transfer.

 

[Koda]

First, what to do with the firearm. Second, the difficulty of their role in a conflict that could arise between buyer and seller IF the seller REFUSES to give the buyer back their money and re-take possession of the firearm.

Why couldnt the FFL just put the gun up for sale? Isnt it theirs at this point?