When I bought 63U, the seller insisted I pay cash. Would not let me wire him the funds. Fortunately, we have a good relationship our banker, so he called the branch in the town where the plane was, set it up for me to cash a check at the branch in front of the seller. In 100's. He counted every bill. He was a strange bird.
At least I did not have to carry a bunch of cash around. The teller handed it to me, and I handed it to him. Also, doing it in the bank added a level of safety. And yes, I had the signed bill of sale, etc before I gave him the cash.
We wire funds for our clients every day. We find it a very good way to transfer large sums of monies. We do not like mailing checks. To slow and chance they get lost.
Wish I had known about the escrow service back then. I probably would have used them.
I have learned a lot from this club. Makes me realize how lucky I was in buying 63U. Fortunately, what I didn't know didn't hurt me.
PS: It is hard to get rid of large sums of cash. I never could figure out why the guy wanted cash. | 