[Question] How do we go about buying a R200k second hand Machine?

[Marius1975]

Hi,
We want to buy a 2nd hand CNC Machine but don't want to take any chances. How do a person go about buying something like that? Do we need to setup a contract and if so where do we get one drawn up? The seller sounds like he wants us to give him a R50k deposit. Now I'm very reluctant to pay any money over as I have no guarantee his not just going to take our money. The Machine is about 3 tones and will have to be transported, so it's not like we can just go pick it up and then pay them? No idea how a person goes about doing this.. Any suggestions would be greatly appreciated.

[Justloadit]

I would first start with asking for proof of ownership. This can be the original invoice, and how it was paid, financed or cash. If it's cash there should be a receipt with the invoice. If it was financed, at the end of the financed period, the finance house would supply a certificate of fully paid up deal or something in those lines.

By obtaining these documents, it already shows much about the seller. Then from there get your lawyer involved, and the deposit can be placed in escrow, and the lawyer will only make the payment if certain conditions are met.

This way both the buyer and seller are protected. It is a huge investment with out making sure it will not go sour.

[Just Gone]

Hi Marius - I have a very good friend in Jhb who sells CNC machines - quite a large company. It is called PBS Machine Tools. He often has second hand machines for sale and also offers deals etc and also arranges finance if you would be interested. He has been operating for quite a long time and I can highly recomend him. CT is also not a problem for him as he has machines all over the country. If you are interested I can give you more details.

Ps. Maybe you should contact him anyway - he might be able to sell one to you for less than that.