Page 2 of 2 FirstFirst 12
Results 11 to 19 of 19

Thread: How is an individual buying a machine gun from another same state individual handled?

  1. #11
    Join Date
    Nov 2007
    Location
    Georgia, USA
    Posts
    2,421
    Feedback Score
    0
    Quote Originally Posted by Eurodriver View Post
    How do you guys verify the person isn't going to keep shooting/potentially damage the gun after sale?

    6-12 months is a long time to give someone the price of a car.
    If the seller was in-state, then I'd work the deal so that I could immediately take possession of the bolt, carrier, etc. (and the upper if an M16). A seller shouldn't have a problem with this as they'd still have the valuable part. Knowing where the person lives and being able to easily sue them is a definite plus.

    For out of state purchases from individuals, I'd only do a 50/50. I bought my M16A2 lower half this way. I was confident this guy wouldn't shoot it because he still had several others. When I got it, it was still pristine as pictured. I did pass up a great deal on an FNC because the seller wanted all the cash up front. I figured if he was so insistent on all the money being up front and the price was so low, there was likely something wrong with the situation. As an added bonus, I figured out that the reference he gave me was the dude arrested for selling ammo to the Las Vegas massacre murderer. The main point I'm making here is that you need to get to know the seller and trust your instincts.

  2. #12
    Join Date
    Mar 2019
    Location
    DFW Texas
    Posts
    47
    Feedback Score
    1 (100%)

    Cool

    Any of ya'll think about Corporate Transfers. Ever Corporate transfer I ever did was no more than about 25 - 30 days at the most cause there's no one to do a background check on, no finger print cards, no sheriff's signature, etc.. It's an LLC, or INC., Type S corporation or at least mine still is cause I'm current. Complete your forms, send both forms in with a personal check for the NFA tax and then it's a waiting game with the US postal service.

    Bret's ideal for a In State transfer, that's the proper way to handle the transaction. I never did out of State transfers. Fortunately all of mine were within 250 mi of me so and everyone I dealt with was on the up & up.

    The only iffy situation I ever encountered was with the Military Armament Mac 10/45 confiscated by the Johnson County Sheriff's office. I bought the weapon from the registered owner and when the form 4 was approved the NFA branch sent both me and the Sheriff's office a letter telling the Sheriff's office who the new registered owner of the weapon was and that's who they needed to release it to and if there were any questions there were names & telephone numbers of who to call at the NFA branch at the bottom of the letter.
    Yeah, the Johnson County Sheriff wanted to keep that play-toy but carrying the NFA letter with me and the form 4 was all I needed to pick it up.
    Last edited by rooster2412; 05-26-20 at 11:50.

  3. #13
    Join Date
    Dec 2006
    Location
    The South
    Posts
    3,895
    Feedback Score
    1 (100%)
    Quote Originally Posted by Eurodriver View Post
    How do you guys verify the person isn't going to keep shooting/potentially damage the gun after sale?

    6-12 months is a long time to give someone the price of a car.
    Once you pay, the seller ships all the non-restricted components to you. Other options include putting a lock on the item.
    SLG Defense 07/02 FFL/SOT

  4. #14
    Join Date
    Dec 2006
    Location
    The South
    Posts
    3,895
    Feedback Score
    1 (100%)
    Quote Originally Posted by rooster2412 View Post
    Any of ya'll think about Corporate Transfers. Ever Corporate transfer I ever did was no more than about 25 - 30 days at the most cause there's no one to do a background check on, no finger print cards, no sheriff's signature, etc.. It's an LLC, or INC., Type S corporation or at least mine still is cause I'm current. Complete your forms, send both forms in with a personal check for the NFA tax and then it's a waiting game with the US postal service.
    No longer the case. This changed with ATF directive 41f: https://www.atf.gov/rules-and-regula...ective-july-13


    I miss the days of fast corporate transfers. My first was for a vector full-size UZI in 2003. It was approved in 3 weeks.
    Last edited by JoshNC; 05-28-20 at 14:28.
    SLG Defense 07/02 FFL/SOT

  5. #15
    Join Date
    Jan 2013
    Posts
    27
    Feedback Score
    1 (100%)
    Quote Originally Posted by Sid Post View Post
    50/50 is more common.
    I haven't done a 50/50 in probably 25-30 years. It is not my fault the ATF transfer times have been historically slower than balls. If a guy wants it, he buys it. Once an item is sold, it is not fired. Most don't get fired anyway.
    Last edited by juliet9; 05-30-20 at 21:36.

  6. #16
    Join Date
    Oct 2006
    Location
    Texas, USA
    Posts
    425
    Feedback Score
    1 (100%)
    Quote Originally Posted by juliet9 View Post
    I haven't done a 50/50 in probably 25-30 years. It is not my fault the ATF transfer times have been historically slower than balls. If a guy wants it, he buys it. Once an item is sold, it is not fired. Most don't get fired anyway.
    Whether ATF is fast or slow is a different issue. Whether you personally do 50/50 deals is separate also.

    I do see trends with deals moving more towards all-cash upfront but, 50/50 is still popular with the potential sales I see.

    Regarding use during transfer, that is expected and is ethical. However, that isn't true for many private parties and some dealers. YMMV.

  7. #17
    Join Date
    Nov 2007
    Location
    Georgia, USA
    Posts
    2,421
    Feedback Score
    0
    Quote Originally Posted by juliet9 View Post
    I haven't done a 50/50 in probably 25-30 years. It is not my fault the ATF transfer times have been historically slower than balls. If a guy wants it, he buys it. Once an item is sold, it is not fired. Most don't get fired anyway.
    It's not really a matter of the time span involved, but rather making sure the seller is legit and follows through with what he's supposed to do. If 1.5% interest for the time it takes to do a transfer makes a difference to someone, then they're in the wrong game. This works both ways. If a seller is desperate for the entire amount up front, then it makes me wonder if he's going to follow through and do the paperwork properly in order to complete the transfer. The M16A2 mentioned about that I purchased was from an out of state individual. He got 50% up front and then 50% when the Form 4 transfer to my dealer was approved. I paid the $200 transfer as part of the deal so that I could see when the check was cashed. Not knowing the guy other than talking to him on the phone, I flat out would not have bought it from him if I had to pay the whole amount up front.

  8. #18
    Join Date
    May 2013
    Location
    AZ
    Posts
    37
    Feedback Score
    0
    Quote Originally Posted by Sid Post View Post
    50/50 is more common.
    50/50 is a thing of the WAY distant past. 99% of sales are 100% up front.

  9. #19
    Join Date
    Nov 2007
    Location
    Georgia, USA
    Posts
    2,421
    Feedback Score
    0
    Quote Originally Posted by deanq View Post
    99% of sales are 100% up front.
    Perhaps your sales and those of well established dealers with good reputations, but not individuals or lesser known dealers. Over half of the transactions I've done have been 50/50. One dealer just offered it up as if it's a normal course of business for him. Remember that the second 50% is paid after approval, but before shipment. This is typically less than a month, so it's not a big deal at all from a financial standpoint.

Page 2 of 2 FirstFirst 12

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •