Is it wise to accept downpayments? Should price be agreed to before accepting one? what is impact on other buyers?

[dannyboy-3873]

I have received a question on whether I would accept a downpayment.  Buyer reported that bank needs;

1. Proof of down payment – a photocopy of your down payment made out to the seller. (I.e. copy of certified
check, personal check, credit card receipt, etc.)
2. Legible copy of your driver’s license – Photocopy enlarged 2 times. Please include a recent utility bill if your
home address is different than what is on your driver’s license.
3. Insurance binder - stating company as loss payee with no more than $500 deductibles.

4. Income Verification – two recent pay stubs, W-2 or if you are self-employed, personal federal tax returns with
all schedules. Contact us with any questions.
We will also need the following from the seller of the vehicle:
5. Legible copy of front and back of the ownership

Is this a safe approach to selling or am I better to only accept full payment?  This is for a vehicle/large purchase.

[toby_le_pue]

Sounds like a scam to me .

One would be foolish to send anyone copies of those documents with all the ID internet theft going on.

[toby_le_pue]

Might be a good idea to post this question on the

ebay motors discussion board

http://forums.ebay.com/db1/forum/Ebay-Motors/20

[heidilynn0_3]

Its not unusual for car sellers to require an immediate paypal deposit but should have set it up in listing..

http://pages.motors.ebay.com/buy/deposit-paypal/

First he has to purchase the car.

I see 2 identical listings ? Cancel the one without bids..

http://pages.ebay.ca/help/sell/end_early.html