Selling Restricted Firearm Privately - When to exchange money?

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Virtual.Chris

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When selling a restricted firearm privately, I see there's a bit of back and forth with the CFP...

- Seller calls CFP
- Buyer calls CFP
- CFO reviews transfer and sends confirmation and new registration
- Exchange can take place

Question: At what point is money exchanged? Before this process or after? I would think before otherwise the new owner can be registered without paying... correct?
 
You need to consider the transaction as both a civil matter (small claims court if it goes south?) and a "regulatory transfer" related to the Firearms Act.

As seller, I would ask for payment in full upfront, before the transfer is initiated. Naturally, honest parties on both sides, and plenty of pictures of the actual firearm condition is key. If the buyer doesn't get approved, then a 100% refund back to their buyer is fair. If the buyer changes his mind after approval and before the exchange, then the buyer, now seller, has to initiate the transfer if both parties agree. That would be a pain and deserve a negative review at a minium. It is best to refund this dope the 100%, just to avoid further issues.

If the buyer won't pay at all, or until receipt, it then becomes an issue (especially if shipping is involved). CFP/RCMP probably won't care to get involved in what is effectively a civil matter, as the transfer is complete. You have put yourself in a situation, where you have transferred the registration of the firearm that is now no longer yours, per the Firearms Act.

Would you sell your car, and have the buyer register it, without getting paid for it first?
 
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Full payment recieved by seller before first phonecall to CFC is made
Full stop.
Nothing else is acceptable.
 
Once the transfer is completed, the firearm legally belongs to whoever it was transferred to, regardless of whether or not money has changed hands. I wouldn't allow that to happen as a seller without being paid first.
 
FatCatsDad said:
Full payment recieved by seller before first phonecall to CFC is made
Full stop.
Nothing else is acceptable.
Click to expand...

This has been discussed a few times before and there are various opinions on this.

A middle way is that the buyer initiates the transfer first before payment to have the assurance that the firearms exists, pick your side.
 
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scianna54 said:
This has been discussed a few times before and there are various opinions on this.

A middle way is that the buyer initiates the transfer first before payment to have the assurance that the firearms exists, pick your side.
Click to expand...

You have a high feedback, do you personally do this when selling firearms ?
How do you personally handle NR sales or high end optics ?
 
FatCatsDad said:
You have a high feedback, do you personally do this when selling firearms ?
How do you personally handle NR sales or high end optics ?
Click to expand...

Why not, I even completed restricted transfers as seller when the buyer paid me in installments. Never had a problem. I don't know what high end optics have to do with that. There is a lot more to selling than meets the eye. I am never against reasonable requests from buyers.
 
scianna54 said:
Why not, I even completed restricted transfers as seller when the buyer paid me in installments. Never had a problem. I don't know what high end optics have to do with that. There is a lot more to selling than meets the eye. I am never against reasonable requests from buyers.
Click to expand...

Basically what I meant was that some optics cost more than some restricted but no calls are made to verify existence like you say a call to CFC verified the gun exists.
Just wondering why a restricted sale is handled differently than selling a scope, NR etc
 
Virtual.Chris said:
When selling a restricted firearm privately, I see there's a bit of back and forth with the CFP...

- Seller calls CFP
- Buyer calls CFP
- CFO reviews transfer and sends confirmation and new registration
- Exchange can take place

Question: At what point is money exchanged? Before this process or after? I would think before otherwise the new owner can be registered without paying... correct?
Click to expand...

Follow the process as if buying from/selling by a retailer. When do they take the money?
 
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