Sold bike over the weekend, want to make sure that I'm doing this right.

[M@tt650GS]

If the bank couriers the docs, then there is no way he can reverse the payments...  The bank will only release the docs if the money is in their account. 

[silvrav]

Ok everything seems to be on track.

Both payments show, one in my credit card, and the settlement on the installment as well. The bank now sent the payment for "Account Closure".

Then they will courier me the docs.

The only thing I'm worried about is if he can still reverse any of the payments once all of this is done?

Both payments were from FNB to FNB basically.

EFT can not be reversed without your consent

[ZK1]

Thanks for all the help guys, everything seemed to have gone perfectly.

Except that I'm now bikeless.....

Next bike....KTM690R............or what ever is available at the time when I have money again.

[AJBotha]

How is the other party protected? He transfers all of the money to you,
what protection does he have that you will actually sign the papers over to him and deliver the bike as advertised?

[Ganjora]

How is the other party protected? He transfers all of the money to you,
what protection does he have that you will actually sign the papers over to him and deliver the bike as advertised?

i did a deal like this with my 690.
buyer,  upon transferring to my & wesbank's account,  got bike,  keys and a signed sales agreement.
when i got the papers from wesbank,  i couriered them to him.
had absolutely no issues