I have 2 sewing machines for sale. I have a potential buyer who wants to take them now and pay for them over 10 months. How can I protect myself if she moves or disappears?
First, put the contract in writing with all the details of the sale. You could include a clause stating your right to take the machines back if the payments stop. You can get additional information from the buyer like their social security number and driver's license. Unfortunately, if the buyer disappears, then it may be difficult to find your property and get it back. If you are unsure of the buyer, you might require them to get a loan from a bank or an advance from their credit union or credit card company. This option allows you to have all your money up front.
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