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Posted: 9/15/2013 8:30:30 AM EDT
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I'm considering my first Full Auto purchase ( I own several cans and SBRs - either built on Form 1's or bought from my dealer on a Form 4). I found a fair deal from a private seller for what I'm wanting, but it's on a Form 4 in another state. If I understand the required process correctly, the seller will need to transfer the gun dealer in his state via a Form 3. The seller's dealer will transfer it to my dealer to be transferred to me via a Form 4. So there are 2 stamps involved(?).
If my understanding is correct, does the seller usually cover the first stamp? With everything going on, how much time does the first transfer add to the already long process? Also, what the best way of covering myself with a private seller when dealing with NFA items? I have bought a number of items from the EE, GB etc.... but never something this expensive with such an involved process. |
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The current owner will transfer the gun on a Form 4 to your SOT/Dealer. Your dealer will then transfer it to you on a Form 4, so yes, there are two (2) $200 taxes involved. Who covers the first tax is up to you and the seller. These days wait time on two F4's would be (IMHO) well over a year. Although the first transfer to your dealer "should" go somewhat quicker. I've used both USPSMO's and bank transfers as a way to pay/be paid. |
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Quoted:
I'm considering my first Full Auto purchase ( I own several cans and SBRs - either built on Form 1's or bought from my dealer on a Form 4). I found a fair deal from a private seller for what I'm wanting, but it's on a Form 4 in another state. If I understand the required process correctly, the seller will need to transfer the gun dealer in his state via a Form 3. The seller's dealer will transfer it to my dealer to be transferred to me via a Form 4. So there are 2 stamps involved(?). THE SELLER TRANSFERS THE GUN DIRECTLY TO YOUR DEALER IN YOUR STATE. THAT IS A FORM 4 TRANSFER. FORM 3 IS DEALER TO DEALER. If my understanding is correct, does the seller usually cover the first stamp? With everything going on, how much time does the first transfer add to the already long process? THE BUYER USUALLY COVERS ALL THE STAMP TAX, BT IT'S NOT WRITTEN IN STONE. LAST YEAR, SOMETIMES ONLY MAYBE 6 WEEKS WAS REQUIRED FOR A TRANSFER FOR THE PRIVATE SELLER TO YOUR DEALER ON A FORM 4. THIS YEAR, WHO KNOWS? WORST CASE, TAKE AS LONG AS ANY OTHER FORM 4. Also, what the best way of covering myself with a private seller when dealing with NFA items? I have bought a number of items from the EE, GB etc.... but never something this expensive with such an involved process. THERE IS NO WAY TO 'COVER YOURSELF' WITH A PRIVATE SELLER. IN ANY WAY, SHAPE OR FORM. THE POST OFFICE IS NOT A BUREAU FOR RECOVERING LOST MONEY, NOR IS YOUR BANK. PEOPLE CAN AND HAVE BEEN BURNED. SOMETIMES PEOPLE PAY 1/2 UP FRONT AND 1/2 WHEN THE TRANSFER COMES THRU. THIS IS WHY PEOPLE BUY GUNS FROM THE HIGH-ALTITUDE-PRICED DEALERS LIKE REUBEN OR FRANK. PERSONALLY, I WOULD BE WILLING TO BUY FROM A GUY WHO HAD A LOAD OF EXCELLENT FEEDBACK ON GUNBROKER, OR FAILING THAT, IF I COULD SEE THE GUN IN PERSON AND VERIFY THAT IT EXISTS AND MATCHES THE PAPERWORK. |
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Quoted:
The current owner will transfer the gun on a Form 4 to your SOT/Dealer. Your dealer will then transfer it to you on a Form 4, so yes, there are two (2) $200 taxes involved. Who covers the first tax is up to you and the seller. These days wait time on two F4's would be (IMHO) well over a year. Although the first transfer to your dealer "should" go somewhat quicker. I've used both USPSMO's and bank transfers as a way to pay/be paid. That will not do anything for you. If the seller does not send the gun or sends a POS, you'll still have to pursue the matter in a civil court. |
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Quoted: That will not do anything for you. If the seller does not send the gun or sends a POS, you'll still have to pursue the matter in a civil court. Quoted: Quoted: The current owner will transfer the gun on a Form 4 to your SOT/Dealer. Your dealer will then transfer it to you on a Form 4, so yes, there are two (2) $200 taxes involved. Who covers the first tax is up to you and the seller. These days wait time on two F4's would be (IMHO) well over a year. Although the first transfer to your dealer "should" go somewhat quicker. I've used both USPSMO's and bank transfers as a way to pay/be paid. That will not do anything for you. If the seller does not send the gun or sends a POS, you'll still have to pursue the matter in a civil court. Fortunately a high (very high) percentage of those in the NFA community are on the up and up. |
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Quoted:
Fortunately a high (very high) percentage of those in the NFA community are on the up and up. Quoted:
Quoted:
Quoted:
The current owner will transfer the gun on a Form 4 to your SOT/Dealer. Your dealer will then transfer it to you on a Form 4, so yes, there are two (2) $200 taxes involved. Who covers the first tax is up to you and the seller. These days wait time on two F4's would be (IMHO) well over a year. Although the first transfer to your dealer "should" go somewhat quicker. I've used both USPSMO's and bank transfers as a way to pay/be paid. That will not do anything for you. If the seller does not send the gun or sends a POS, you'll still have to pursue the matter in a civil court. Fortunately a high (very high) percentage of those in the NFA community are on the up and up. I sent $3500 to a guy for a gun. Didn't hear from him again for a month. Turned out the guy was half dead in the hospital from a car wreck. If he would have died, I would have had to sue his family (or who knows) for the money, out of state. That was a very sobering event in my life. Imagine sending $25K for an m16 that's located 1000 miles away, then the gun never shows. Then what? My sister gave 20K to a contractor who never did the promised work, she sued the guy, got a judgment and is still waiting to see the first penny 10 years later. When you get stung, getting your money back is difficult, sometimes near impossible. Now that MG prices have gone nuts, it's high time we all started using an escrow service like they do when buying high end jewelry. The money goes to the escrow, then gets released when the gun arrives. |
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All I'm saying is, the days of $200 MACs and $2500 M16s are over
you need to go into these deals with caution which reminds me a guy over on uzitalk reported that he got burned for $11K by a dealer the dealer faked the paperwork this kind of thing is still rare but it does happen, so you want to cover your ass somehow |
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