keeping uzi in gun store ?

[rkcal22]

I might be selling my FA Uzi but the buyer has doubts about giving all the money up front. My gun store (class lll ) says I can leave the firearm in his safe until the new paper work comes through for a small charge. Is this legal ? Thanks

 

[panhead5]

Do a 50 /50 sale . That's not unreasonable . 50 % up front 50 % when the paperwork comes through . that's not unreasonable for anyone involved considering all the weird stuff and time transfers take.

 

[eyegun]

If the guy won't do a 50/50 sale then you should move on.

There is a type of person who is never satisfied with any original conditions of anything and always seems to add their own particular conditions to satisfy their deep down need to be the one calling the shots. Best to avoid this type of person.

It's not like it's hard to move a FA UZI these days.

 

[BWE Firearms]

It is not legal to leave it at a gun shop unless you have transferred it to them on an approved Form 4 or they are doing repairs to it.

 

[ScottinTexas]

I might be selling my FA Uzi but the buyer has doubts about giving all the money up front. My gun store (class lll ) says I can leave the firearm in his safe until the new paper work comes through for a small charge. Is this legal ? Thanks

I personally wouldn't sell it to someone who wants such an exception to the generally standard NFA process. I'd just say 'sorry, you're tieing it up for 5-6 months at least (more with 41F?) so all payment due now'.

As for leaving it at your dealer, my understanding is technically, no, that's not legal. Realistically, maybe that does happen under the 'Repair' category, where C3 dealers have stuff with no papers. But in this case it might be 5+ months he's holding it for 'cleaning and repair'. That's a stretch.

Just my impressions; I could be wrong about the Form 5 thing.

 

[rsideout]

I do a simple written contract for every MG that I buy or sell with an individual. And I've also used it twice for MG's with small dealers. It lays out all of the terms conditions, and expectations from BOTH parties. Its very fair, and slightly geared in favor of the seller. I'm normally the buyer so I have zero concerns about my own ability to follow through. I wrote it about 6 years ago and just modify it for the particulars of each deal. Used it about 8 times so far. 4 of my friends have also modified it for their MG purchases.

Another word of advice is do you due diligence on any seller. You can do the same on a buyer in question. Check public records to make sure that they are who they say they are. Check local property tax records to make sure they live where you are sending your check. Many jurisdictions also have online court checks for criminal history. In general, check for any red flags.

 

[PDXsparky]

Unless you are getting a premium price for it, I'd tell the guy it's 100% up front to start the paperwork and forget about "storing" it at your class III dealer (unless he's willing to pay to transfer it to the dealer first). The only concession I'd make would be to let him have everything except the serialized part. Be sure to sign a contract detailing what is included in the sale.

If he can't accept it, look for another buyer.

 

[panhead5]

Unless you are getting a premium price for it, I'd tell the guy it's 100% up front to start the paperwork and forget about "storing" it at your class III dealer (unless he's willing to pay to transfer it to the dealer first). The only concession I'd make would be to let him have everything except the serialized part. Be sure to sign a contract detailing what is included in the sale.

If he can't accept it, look for another buyer.

That's all well and good assuming the buyers not a flake . I have paid full price with dealers as well as 50/50 . Full price to an individual on form4 I'm not so sure about unless I can completely verify the transaction .

 

[Battering ram NIB]

dealer cant keep your gun in his safe...unless you add him to your trust ?

my first FA purchase was from an individual.....i sent the $$ to the gun shop (wrote the check out to the gun shop) gun shop setup an escrow account.......when the form 3 got approved he turned in the gun to his gun shop to ship, the gun shop paid him....this way i (the buyer) was safe and the seller was also safe........ive done (2) 50/50's....not a big deal.....but if your going to do the escrow idea id get 100%.....truth on the 2 50/50's i did----i did them because i didnt have the other 50% yet......its a secret your seller may have from you too...something you dont want......in my case i knew in 3 months id easily have enough....but your buyers financial situation may not be as stable.....a broke furnace/water heater could F-up him being able to pay the other $6k on your uzi.....so id push for 100%

your buyer may be new to the NFA game.....its pretty scary sending $12-15k to a stranger...just hoping he will file the form 3........i bought all the rest of my FA's from dealers....ive sent as much as $35k to a large dealer purely on trust/reputation....for your buyer $12-15k may be years worth of savings and a huge deal........all im trying to say is try to see the buyers side of things and work with him....the escrow account idea we both agreed to was easy and brought trust to both sides

after buying my 1st FA from an individual i decided to only buy from dealers......i have a trust issue as anyone should with all the scammers out there.....truth is ive done 25+ deals on Guns,mags, accessories and have never had 1 bad deal.....ive sent hundreds to strangers off Sturm countless times....always got what i paid for....ive also had people from forums send me $$ based on trust also.......even had a guy send me thompson parts for free for me to inspect w/ the option to buy or send back what i didnt like........there is crazy trust out there in the FA world
good luck!

 

[ScottinTexas]

.....truth on the 2 50/50's i did----i did them because i didnt have the other 50% yet......its a secret your seller may have from you too..
good luck!

That's all fine and good if everyone is honest up front and is OK with the uncertainty and risk. The seller can decide what to do based on the knowledge the buyer doesn't have the cash and may not have the balance when due. It's deceitful if the buyer withholds this information; the buyer is tieing up the gun with no guarantee he can compete his obligation.

And I really don't want to get tangled up with folks like that. Another reason to stick with the generally accepted practice of full funds up front. I have had several local deals go south after some goofus says 'I'll take it!" only to renege days or weeks later because his wife / girlfriend is mad, his car broke down or he just changed his mind.

If I ever do a 50/50 deal as a seller (doubtful) I would provide a contract that stated the 50% down is non-refundable. That should resolve the question before it becomes an issue.

 

[rkcal22]

Thanks all. The buyer will pay all at time of paperwork. He happens to be a member of the same shooting club and that's where we spoke about full auto. Also I've lived here 30 years and the trust would be on him to me. He knows where I live.

 

[roscoeturner]

I do not do deals like this, far too many other buyers in the world to deal with that do not bring this sort of nonsense with them. While some revel in the idea of making simple transfers as complicated as humanly possible, it is not the best way to go about existing in the NFA world.

As far as storing the Uzi with dealer, as has been said above, you cannot do this legally without transferring it to the dealer. Having him store it on the dubious reason of a repair is asking for trouble should someone start poking their nose in it.

 

[Battering ram NIB]

on my Mac 10 the dealer only asked for whatever i wanted to give for a down payment...i could have held it for $500 if i wanted...i gave 50%.......

if i were to sell id ask for 100%....but i would be understanding if they wanted to escrow it w/ a dealer....it really isnt a big deal and should be more of a normal thing when selling $20-40k guns to a stranger out of State......but i know trust is a big deal in the NFA world....i get it, but to a newbie you have to see the other side of the coin...

congrats on selling it to a local you know...there should be no issues....id get the $$ and go together to mail the form 3...that way he knows its in the mail and the process is started.......with the cost of a UZI i would think this would be good enough for me.......with the cost of a Colt Thompson i would want more assurances

when i sell my guns some day i will transfer them to my dealer first before i sell them....just to make trust a non-issue

 

[ScottinTexas]

congrats on selling it to a local you know...there should be no issues....id get the $$ and go together to mail the form 3...that way he knows its in the mail and the process is started......
when i sell my guns some day i will transfer them to my dealer first before i sell them....just to make trust a non-issue

If it's a local buyer going Form 3 to a dealer just adds $200 and 2+ months to the transfer. There's no reason not to go Form 4.

If you transfer your guns to a dealer are you going to do that with no payment? You must really trust him. And whomever replaces him if he dies of a heart attack during the process.

 

[rhouston8]

As a seller I wouldn't do a 50-50 in this market unless you are getting >FMV sales price.
Here's an out of the box idea. I imagine this is all an issue of trust as is usually the case. Y'all two find some common ground. Maybe instead of doing 50-50, escrow, or having 3rd party "repair" the gun think about meeting in person. Split the airfare. Say $250 ea. He's flies over one morning, y'all go shoot, hang out, eat lunch, get all comfy (or not) with each other and then he flies home. Done. 1 day. $250 ea. and he gets to finger the gun and y'all get to know each other. Sure, sounds a bit weird but it's really not. On the surface it sounds quite reasonable to me. You pay $250 to close the deal in your terms easily. He gets to handle the gun in person and make sure you aren't a scammer. $250. A pittance.