When selling to another individual, when are you exchanging money, considering long wait time for background checks?

[CS1776]

I have a pistol for sale, and I'm thinking through when to ask for payment, considering the gun shop is gonna hold onto it until the background check passes, which could be weeks.

My only thought is to get payment when the gunshop takes possession, and if the buyer doesn't pass the background check, I give him his money back.

I don't know how comfortable I'd be as the buyer, but I can't think of another way to do it.

Thoughts?

Read More

 

[gryghin]

This.

This is how it was when I was surprised by getting put into the queue after literally years of nigh instant approval. A Cut Above Pawn held onto the firearm and I paid the seller.

No big deal.

 

[Nosferatu]

As a seller, It wouldn't leave my possession until it's paid for.

 

[washagonian]

The more unsettling scenario is:

1. Seller sells a firearm to buyer.
2. Buyer pays seller at FFL.
3. FFL submits BGC, and holds firearm.
4. BGC is NOT completed by the date BM114 takes effect.
5. BGC comes back approved, a day, week, or more, AFTER BM 114 takes effect.
6. FFL cannot transfer firearm to buyer because buyer must have a permit.
7. Buyer cannot get a permit because there is no system in place to allow buyer to get a permit.
8. FFL can't sell firearms or do transfers, so FFL goes out of business.
9. What happens to the buyer's firearm???

OR

Steps 1 - 7 are the same, then

8. FFL continues in business, but decides they don't want to keep holding private party transfer firearms
9. Seller's firearm has NOT been transferred to buyer, so FFL returns firearm to seller.
10. Buyer contacts seller asking for his money back.
11. Seller says he doesn't have the money (had to fix his truck, car, water heater, etc.), and won't be able to pay buyer back.
12. Buyer s**t's his pants, or something like that.

It is truly a sh*tshow!

 

[Camelfilter]

When the FFL takes possesion is when money changes hands.

If the buyers BGC fails, if comes back denied, or doesn't go thorough, or the BGC system collapses, whatever firearm in possession of the FFL is now between the buyer & the FFL.

Least ways that's I have always viewed said sales.

Seller is under zero obligations to give money back to buyer, however I could see a reasonable conversation with most moneys refunded to buyer by seller. Seller then does BGC to get firearm from FFL. In normal times. Not now though.

-Now supposedly there may be FFL's who do not take possesion of firearms for person to person sales. Those transactions are not in the FFL's bound book until the buyers BGC comes back with "proceed". Then the FFL calls and both parties meet up at the FFL for the transfer, FFL records such in book. I believe some used to such this way, ie amidst plandemic. However it's likely improbable any FFL will be doing such ATM....

 

[solv3nt]

Once it's written in the FFL book.

 

[CS1776]

This.

This is how it was when I was surprised by getting put into the queue after literally years of nigh instant approval. A Cut Above Pawn held onto the firearm and I paid the seller.

No big deal.

Good to know, thanks.

 

[GWS]

I have a pistol for sale, and I'm thinking through when to ask for payment, considering the gun shop is gonna hold onto it until the background check passes, which could be weeks.

My only thought is to get payment when the gunshop takes possession, and if the buyer doesn't pass the background check, I give him his money back.

I don't know how comfortable I'd be as the buyer, but I can't think of another way to do it.

Thoughts?

I always get paid up front. The vast majority. 99.999% of people willing to go through the background check know they are going to pass, though delays can happen. so once that gun is in the FFL's hand, that deal is done. My part of it is over. Now, should that buyer be in the 0.001% who unfortunately forgot about that felony DUI conviction 10 years ago then I'm taking 10% for wasting my time before I give back the money. because now I have to go through a background check to get my gun back AND start trying to sell it again if that buyer is rejected for cause.
However... this has never happened to me so... Take the money and run!!

 

[CS1776]

I always get paid up front. The vast majority. 99.999% of people willing to go through the background check know they are going to pass, though delays can happen. so once that gun is in the FFL's hand, that deal is done. My part of it is over. Now, should that buyer be in the 0.001% who unfortunately forgot about that felony DUI conviction 10 years ago then I'm taking 10% for wasting my time before I give back the money. because now I have to go through a background check to get my gun back AND start trying to sell it again if that buyer is rejected for cause.
However... this has never happened to me so... Take the money and run!!

Wow, you have to do a background check to take the gun back! Ok, didn't know that, thanks for the info.

 

[The Heretic]

I've never had an FFL require holding onto a gun in a FTF private party sale when the BGC/etc. takes more than a few minutes.

BGC approvals lasting longer than a few minutes have only happened a few times in my experience. Once at Cut Above Pawn I sold my AR-50 to a forum member and it took about 10 days IIRC. I held onto the rifle.

Another time, at a Salem FFL, I was trading a revolver for a rifle (and other stuff) and it took a few hours. We each held onto our respective firearms.

I can't speak for how FFLs are choosing to do things now, but when it comes to FTF private transfers, I see no reason why the seller can't hold the firearm, and the buyer hold the cash, until such time as the paperwork is approved.

 

[Pepe-lepew]

Some FFL's I have used will not hold onto the firearm for a FTF. Since it is a private transfer, they don't want it on their books.

 

[CS1776]

The more unsettling scenario is:

1. Seller sells a firearm to buyer.
2. Buyer pays seller at FFL.
3. FFL submits BGC, and holds firearm.
4. BGC is NOT completed by the date BM114 takes effect.
5. BGC comes back approved, a day, week, or more, AFTER BM 114 takes effect.
6. FFL cannot transfer firearm to buyer because buyer must have a permit.
7. Buyer cannot get a permit because there is no system in place to allow buyer to get a permit.
8. FFL can't sell firearms or do transfers, so FFL goes out of business.
9. What happens to the buyer's firearm???

OR

Steps 1 - 7 are the same, then

8. FFL continues in business, but decides they don't want to keep holding private party transfer firearms
9. Seller's firearm has NOT been transferred to buyer, so FFL returns firearm to seller.
10. Buyer contacts seller asking for his money back.
11. Seller says he doesn't have the money (had to fix his truck, car, water heater, etc.), and won't be able to pay buyer back.
12. Buyer s**t's his pants, or something like that.

It is truly a sh*tshow!

Oh my, yeah I've thought about some of these scenarios and Jiminy Christmas, it is a cluster for sure.

I'd laugh if it all wasn't a distinct possibility..

At this point I'm crossing my fingers..

 

[RobMa]

I know of numerous gun shops that take payment first then do a background check and if the person fails a background check then the gun shop resells the gun to someone else and then gives a refund to the original purchaser after that. Most of the time the refund is less than what the person paid considering the deduction of the cost of doing the transfer/background paperwork.

 

[spookshack]

There is no way I'd buy a gun now and hope I make the cutoff date. Likewise, I wouldn't sell a gun now for the reason stated above.
Not worth the risk. That's just me though, YMMV.

 

[CS1776]

There is no way I'd buy a gun now and hope I make the cutoff date. Likewise, I wouldn't sell a gun now for the reason states above.
Not worth the risk. That's just me though, YMMV.

That's what I'm considering exactly. Though this one I REALLY don't need and it's cheap. We'll see. I don't have much skin in the game so it could be entertaining..

 

[spookshack]

You'll have to keep us updated. It will be interesting how it all plays out! Lol

 

[PDXbiker]

And all of this is exactly why I sold several pieces before the election. I had a premonition this was going to be a mess if 114 passed. Well, it passed and it's a BGC mess.

 

[deadeye]

There is no way I'd buy a gun now and hope I make the cutoff date. Likewise, I wouldn't sell a gun now for the reason states above.
Not worth the risk. That's just me though, YMMV.

I will still buy and sell regardless of when 114 goes into effect, without BGC's and a stupid permit to exercise my constitutional right.







Now don't go gettin your panties in a bunch.........think about it.

 

[Jay Walk]

Copied from KOIN - just another unknown BUT, no way I would pay a private seller for a gun right now.

"If anyone is planning on purchasing a firearm, better get it done, there will be a huge rush of gun sales in the next couple of weeks as people try to get guns before the measure takes effect," Taylor said on the Lake County Sheriff's Office Facebook page.

"The number of background checks is already high, but it will skyrocket. Whatever background checks are in the queue on Dec. 8 will simply stop"

Lake County Sheriff Michael Taylor

 

[jim-dawg]

Not the seller, but currently the buyer in a deal and here is my 2 cents worth. First off current deal is as such: seller is a member here, asked for the money up front while background cleared, I said I would prefer to exchange goods and funds at the same time and seller was comfortable with that as well. History has taught me that it is never a done deal until "it's a done deal" have had a deal including someone I had known for decades just vaporize and literally never be seen again. Had a deal collapse while guy was en route, lady blew a red light and hospitalized him and he never made it (found out later). Back to current deal: while waiting for bgc I contract covid (oh joy), now seller contacts me and says bgc clears but now he has tested positive. We are staying in communication and hopefully heal fast to finish this up. My point is again... It's never a done deal until