Tips:

Whether you are the buyer or the seller of a machinery or equipment item, you'll usually see the following occur in a successful transaction.

• Description of the item's condition (wear, tear, rust, etc.) is accurate.
• Seller's asking price is appropriate. (If priced too high, it will just hang on the market and never sell.)
• Maintenance records are available for inspection.
• Item's ownership history is available. (Is seller the original owner?)
• If the item is not in good working condition, then seller can provide estimate of what actions and cost are required to restore it to good working condition.
• Paint jobs were used to improve marketability but not to mask underlying problems.
• Buyer has finances in order before scheduling physical inspection of equipment.
• Machine is in a dry location on solid ground when shown (in other words, not in the mud).
• Machine is clean and presentable.
• Fluids are at manufacturer-recommended levels.
• Tires are properly inflated.
• Buyer is prepared to pay with a certified check, cashier's check, or wire transfer.
• Paperwork is completed in an honest and accurate manner.

As a guiding principle, successful transactions occur when all parties involved are honest, fair, and not misleading and are careful not to waste anyone's time. As with any business activity, your conduct when buying or selling capital equipment affects your future reputation.