How to Do a Large-Sum Transaction on Craigslist

Use caution when completing large-sum Craigslist transactions.

Do large-sum transactions on Craigslist with caution to avoid being scammed or deceived. Craigslist accepts no responsibility for mishaps that occur when transacting with someone via the site, so you have incentive to protect yourself, particularly when the transaction in question involves a large amount of cash. If you're buying something and can't meet the seller in person, as Craigslist advises, use a secure payment method that protects the purchase.

Things You'll Need

• Counterfeit marker

Instructions

1. Arrange to meet the other party in person, particularly if you are the buyer handing over the large sum of cash. If you aren't able to meet the other person, pay with a secure means, such as PayPal, which insures your purchase in the event that you aren't satisfied with whatever it is you bought.

2. Inspect the item for any physical blemishes or damage and test it out -- if it's something that performs a function -- to ensure that it works. If you aren't able to see the item in person, request that the seller take several pictures of it for you so you are able to inspect it as closely as possible. If you're the seller, allow your buyer to inspect the item before he purchases it, either in person or via photos.

3. Work out a "worst case" resolution before you accept the item or tender payment -- or if you're the seller, before you accept payment and release the item. Ask the seller to agree, in writing, to refund all or part of your money in the event that the item doesn't live up to his description of it and offer to do the same if you're the seller. This document isn't legally binding, but constitutes evidence that you or the seller may use in small claims court.

4. Trust your feelings about the integrity of the seller and of the transaction. If you feel that the seller is acting nervous or suspicious upon meeting him -- and, as result, believe the quality or provenance of the item may be suspect -- don't go through with the transaction. If you're the seller, inspect the cash the buyer gives you carefully for signs of counterfeiting, including marking notes with a counterfeit marker.

Tips & Warnings

• If you're the seller and the buyer doesn't agree to pay in cash or use a secure electronic payment method -- in other words, he wants to pay using a personal or cashier's check or a money order -- don't go through with the transaction. According to Craigslist, buyers who only pay using checks or money orders may be scammers.

References

• Craigslist: About -- Scams