Classified Ads

WARNING TO ALL MEMBERS -( and others)

There are many Internet scams going on these days. When you are either buying or selling over the Internet (and in magazines) you can easily fall victim to any one of these unless you are very careful. Buying is obvious, you may be cheated and not get what you have paid for. However, selling is a different matter. We cannot go into detail because there are just too many types of fraud to cover but two of the most common are: 

The Refund - In this scam the person who is buying sends you a deposit larger than you asked for.  Then they contact you, make up some story and ask for a refund of the overpayment. You send them your cheque or money order only to find that their cheque, Cashiers check, Bank Draft, etc, is a phony. Your money is gone and it is doubtful that you will ever collect it a the person you were dealing with probably doesn't really exist. Worse, you send your goods thinking that you have been paid and then the phony cheque comes back.  Please note that it can take up to two months for a phony cheque to be returned as the bank will process it.  The genuine customer may not notice this until they receive their statement in the mail and that could be up to a month from the time it is processed.  Bank drafts and Cashiers checks from the US are safer, but they are often forged and can take up to three weeks to be returned.

Fishing For Information - In this scam there is no intention to purchase.  The "purchaser" simply wants to steal your goods. Lets say you advertise your car - a 55 T-Bird, for sale. There are organized gangs of car thieves out there and, if they are looking for a 55 Bird, once they see your ad, make contact and find out exactly what you have, your name, address, phone number, etc. they have all the information they need. Do not ever give out this information to anyone you do not know - at least until you are completely satisfied the deal is genuine. But this is very difficult to do because today's thieves are sophisticated. Example: You make a deal, you receive a deposit in the mail, the cheque or draft is genuine, so you think everything is OK. Sorry, that could be the scam so you will now relax. The "purchaser" completes the deal with a phony cheque or draft and drives away in your car. 

The problem is, if you are too guarded, this makes it very difficult to do business and the genuine purchaser now becomes wary thinking you are the phony as you won't give any info.

What to do? One of the ways to protect yourself is to use services such a Pay Pal so you have third party taking the responsibility for the funds. Another in the case of a large transaction, could be to use a lawyer, or Notary,  and insist that the funds come from a law office (your lawyer would do this anyway). That way, you are protected by the legal system and your lawyer's liability insurance.

The bottom line is: Not only is it Buyer Beware, as it has always been, it is now Seller Beware!!