Private sales

[RC_Hinojosa]

Do you guys feel comfortable accepting transactions with cashier's checks?

Or demand wire transfer?

Obviously wire would be preferred but doesn't look like logistics would work in this situation.

Buyer is coming in from Kansas Friday to demo Saturday. My lender Huntington, doesn't do wires on Sat/Sun.

What would y'all do?

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[larry_arizona]

A cashiers check by definition is guaranteed payment from the bank issuing the check.

Once issued, I don’t think the buyer can cancel payment.

Bigger question, do you have a replacement boat in line or taking the season off?

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[RC_Hinojosa]

A cashiers check by definition is guaranteed payment from the bank issuing the check.

Once issued, I don’t think the buyer can cancel payment.

Bigger question, do you have a replacement boat in line or taking the season off?

Sent from my iPhone using TapatalkI know it's guaranteed because it's issues by the bank and not the buyer....it just doesn't give me any warm & fuzzies.

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[RC_Hinojosa]

Bigger question, do you have a replacement boat in line or taking the season off?

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By the time the build would be done the season would be mostly over so I'm trying to decide if I should just give '21 season a pass and place deposit on spring '22 slot now.

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[Scott-clt]

I assume you’ll Need to go to a notary so maybe call your bank to make sure they offer the service on a Saturday and then go there. Get the bill of sale notarized and cash the cashiers check at your bank. Your bank should be able to verify the funds are in your account free and clear.


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[996scott]

If he has the cashiers check made out on Friday (or any other day), maybe you can call his bank directly and just verify with them that they did indeed cut a check made out to you? Just a thought.

[RC_Hinojosa]

Thanks guys, I feel kinda retarded but it's been 10 years since I've dealt with a paper check so it just seems weird.



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[Josh828]

Thanks guys, I feel kinda retarded but it's been 10 years since I've dealt with a paper check so it just seems weird.



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I was selling a car one time and the person was "confused" about getting a regular old check from the bank and an actual cashiers check
I didn't accept it and they were never able to come back with cash so I'm glad I didn't take their personal check
(amount was only $6000)

[sandm]

here's my .02..

I've sold 2 boats online and numerous cars. both boats were wire transfers. several cars were cashiers checks. every situation is different and you'll get a feel when meeting the purchaser. with the last car I sold the kid drove up from phx and after agreeing on the price, we went to wells fargo bank and he got the cashiers check there. was $20k. personally, I would not let the boat out of my sight with a cashiers check IF I had not been to a bank to verify it's good. there are ways to scam those . ask any of the guys that "won the lottery from a nigerian embassy" :) if he's paying cash/cashiers check I'd only finish the deal if you can confirm the check.

once you have the cashiers check tho and know it's good there's no way for him to cancel the funds so you're good to go then.

good luck.

[rdlangston13]

I would make him go to the bank with you while you deposit it since he is already going to be in town.

[RC_Hinojosa]

I would make him go to the bank with you while you deposit it since he is already going to be in town.There is a Chase right there by Duessen on W Lake Houston Pkwy, that should work out perfect.

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[parrothd]

No way I'd take a cashier's check, can be easily faked, meet them at the bank and cash the cashier's check and convert it into a new cashiers check then deposit in your bank. :)

The bank may not have enough cash on hand so that's why you convert to a new cashiers check. You will have to goto whichever bank the cashier's check is from to cash it, otherwise it may still be faked or stopped. Cashier's check still take time to clear and who know what can happen. That way the buyer can't cancel it and the money is guaranteed.

[2in2out]

The bank that issues the cashiers check will verify the check if you call them and ask. Compare branch information and hours via google search to ensure all is kosher.

I’ve done this when selling one of our vehicles and it made me feel a whole lot better.


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[UNSTUCK]

Just depends on the situation.

When I sold my last Tige last spring a guy brought his family from SoCal to Utah to pick it up. We met up at my house the night before. We all instantly hit it off. He and I talked boats, his wife and kids went with my wife and kids to the neighbors house to hang out with all the lady neighbors while the kids played in a sprinkler. After a couple hours we decided we were all hungry so we ordered a bunch of pizzas and hung out talking movies and whatnot. The next morning we drove to the lake for a lake test. All went well. We drove back to my bank and he paid the bank directly for the payoff with extra funds going into my account. They gave him the title. We walked out, done deal. We then took a bunch of pictures with our two families together with the boat. We met up with them later in the summer at their lake and spent the day with them surfing.
By the time we were done, I would have taken a personal check from him. Just a solid guy that I now consider a friend. We'll likely meet up again this summer as we have plans to be down that way. I know this is a rare situation.

[larry_arizona]

^^^^^very cool.

My boat sale was local but never once questioned the buyer. Very stand up and consider her a friend.


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[Ralphy]

Do you guys feel comfortable accepting transactions with cashier's checks?

Or demand wire transfer?

Obviously wire would be preferred but doesn't look like logistics would work in this situation.

Buyer is coming in from Kansas Friday to demo Saturday. My lender Huntington, doesn't do wires on Sat/Sun.

What would y'all do?

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Cashier's checks are the most common fraud these days. Most appear to have cashed and then the bank will actually reverse them once fraud comes to light.
The only way I would accept a cashier's check, is if it was issued by the bank in front of me. Ask for a wire. 100%.

[TXSurf4]

Cashier's checks are the most common fraud these days. Most appear to have cashed and then the bank will actually reverse them once fraud comes to light.
The only way I would accept a cashier's check, is if it was issued by the bank in front of me. Ask for a wire. 100%.

^^^^^This. If it is a fraudulent cashiers check you will deposit it and the bank will accept it and within a few days it will pop up as fraudulent and then you are out the $. The only cashiers check I would accept is one issued in front of me as stated above.

The bigger news here is what are you going to replace it with. Mojo or SA......??

[sandm]

Just depends on the situation.

.

that's a crazy story and not one you hear about much these days. cool that it worked out great.

[RC_Hinojosa]

^^^^^This. If it is a fraudulent cashiers check you will deposit it and the bank will accept it and within a few days it will pop up as fraudulent and then you are out the $. The only cashiers check I would accept is one issued in front of me as stated above.

The bigger news here is what are you going to replace it with. Mojo or SA......??I honestly don't know and keep flip flopping.

Earliest I'd get either is likely late September/early October.

So basically I need to mentally reconcile that this summer could conceivably be significantly lamer.

(Unless Langston wants to rent me his boat when he's offshore [emoji57])

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[rhouse181]

Your knackered either way... wire fraud has popped off these last couple of months. We recently sold a property and the title company required a hard cashier's check from the buyer because they had recently "lost" a $500k wire.

I think you should just require a duff b of cash...

[RC_Hinojosa]

Your knackered either way... wire fraud has popped off these last couple of months. We recently sold a property and the title company required a hard cashier's check from the buyer because they had recently "lost" a $500k wire.

I think you should just require a duff b of cash...

Ha. I'd like to see Jim's face if I dropped a duffle bag on his desk.

Don't ask any questions, don't mess with serial numbers....just take my cash [emoji389][emoji389]

(I promise it won't turn your face blue when you open it) [emoji1787]

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[rhouse181]

Ha. I'd like to see Jim's face if I dropped a duffle bag on his desk.

Don't ask any questions, don't mess with serial numbers....just take my cash [emoji389][emoji389]

(I promise it won't turn your face blue when you open it) [emoji1787]

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Might get you to the head of the line for build slots lol

[sandm]

I think you should just require a duff b of cash...

I had a guy from cali last summer when we sold our z3 ask if he could bring up cash in $100's/20's. 59.5k sale. sent a text pic of the funds.
I was glad it was already pending with a deposit.

[brad460]

The bank that issues the cashiers check will verify the check if you call them and ask. Compare branch information and hours via google search to ensure all is kosher.

I’ve done this when selling one of our vehicles and it made me feel a whole lot better.


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Seems this common sense post is being ignored..

Call the bank that issued the cashiers check and let them confirm the funds- easy as that. Even my bank did this when I sold my last boat. This is common practice.

Some folks in here are over exaggerating the risk of a cashiers check..Yes people have been scammed, but you can get scammed with all sorts of payment options.

Large deposits of cash these days throw up red flags...even cash is a hassle.

[TXSurf4]

I honestly don't know and keep flip flopping.

Earliest I'd get either is likely late September/early October.

So basically I need to mentally reconcile that this summer could conceivably be significantly lamer.

(Unless Langston wants to rent me his boat when he's offshore [emoji57])

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Ya it is tough...... go SA and never look back or go Mojo and keep some coin in your pocket. Either way is a win!!

Sept/Oct Sounds like just enough time to get the break in done and couple good trips to get you to the first service. Then winterize her and wait for March.....

That sounds like it could be beneficial for you and Langston. LOL

[RC_Hinojosa]

Seems this common sense post is being ignored..

Call the bank that issued the cashiers check and let them confirm the funds- easy as that. Even my bank did this when I sold my last boat. This is common practice.

Some folks in here are over exaggerating the risk of a cashiers check..Yes people have been scammed, but you can get scammed with all sorts of payment options.

Large deposits of cash these days throw up red flags...even cash is a hassle.Not being ignored....just taking it all in.

Buyer and I just exchanged messages, we're on the same page.

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[rdlangston13]

(Unless Langston wants to rent me his boat when he's offshore [emoji57])

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ha ha :neutral:

Cody's got it locked up when I am out of town. And lucky for me I am going to be off June 5 to August 1, possibly August 14.

[Dank]

Do you guys feel comfortable accepting transactions with cashier's checks?

Or demand wire transfer?

Obviously wire would be preferred but doesn't look like logistics would work in this situation.

Buyer is coming in from Kansas Friday to demo Saturday. My lender Huntington, doesn't do wires on Sat/Sun.

What would y'all do?

Sent from my Note 9 using Tapatalk


Whoa buddy.... let me tell ya a little story about accepting a cashiers check for a boat sale sometime...... !

I personally wouldn't do it.. I'd meet at a bank. Once the cash is verified in your bank.. good to go..

[Guppydriver]

Just depends on the situation.

When I sold my last Tige last spring a guy brought his family from SoCal to Utah to pick it up. We met up at my house the night before. We all instantly hit it off. He and I talked boats, his wife and kids went with my wife and kids to the neighbors house to hang out with all the lady neighbors while the kids played in a sprinkler. After a couple hours we decided we were all hungry so we ordered a bunch of pizzas and hung out talking movies and whatnot. The next morning we drove to the lake for a lake test. All went well. We drove back to my bank and he paid the bank directly for the payoff with extra funds going into my account. They gave him the title. We walked out, done deal. We then took a bunch of pictures with our two families together with the boat. We met up with them later in the summer at their lake and spent the day with them surfing.
By the time we were done, I would have taken a personal check from him. Just a solid guy that I now consider a friend. We'll likely meet up again this summer as we have plans to be down that way. I know this is a rare situation.


That's cool that they had the title ready for you. Whenever I pay off a vehicle with a note, it's always wait for two weeks for the title to arrive.

[UNSTUCK]

That's cool that they had the title ready for you. Whenever I pay off a vehicle with a note, it's always wait for two weeks for the title to arrive.

My bank is really good about that. I call them up and tell them I'm selling and ask to have the title delivered to whatever branch we are meeting at. It's there the next day ready for us. We pay it off, they sign the lien release, notarize and done.

[Guppydriver]

My bank is really good about that. I call them up and tell them I'm selling and ask to have the title delivered to whatever branch we are meeting at. It's there the next day ready for us. We pay it off, they sign the lien release, notarize and done.

Sweet! I'm at AFCU, and they always make me wait.

[UNSTUCK]

American First? That's who I bank with. Maybe they like me more. :D

[brad460]

My bank is really good about that. I call them up and tell them I'm selling and ask to have the title delivered to whatever branch we are meeting at. It's there the next day ready for us. We pay it off, they sign the lien release, notarize and done.

I have the title to my boat which lists US Bank as the lien holder. Same with our last boat through a local credit union (same with any vehicles we’ve ever financed).

I am always surprised to hear folks don’t have their titles...Is that a state by state thing? Perhaps WI requires the owner be sent the title..

[Woody929]

Do it through Rinkers. Called an in/out. In essence, you give them the boat on trade for your new one (can be a build slot), the buyer buys the boat from Rinkers. Benefit to you is much much less sales tax on the new boat, and they do all of the paperwork.


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[j.mo]

I have the title to my boat which lists US Bank as the lien holder. Same with our last boat through a local credit union (same with any vehicles we’ve ever financed).

I am always surprised to hear folks don’t have their titles...Is that a state by state thing? Perhaps WI requires the owner be sent the title..

I think you are issued a COPY of the title, and the actual is mailed to you after payoff.

I think. I don’t finance vehicles and the like.


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[TXSurf4]

Do it through Rinkers. Called an in/out. In essence, you give them the boat on trade for your new one (can be a build slot), the buyer buys the boat from Rinkers. Benefit to you is much much less sales tax on the new boat, and they do all of the paperwork.


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Have done this before in the auto world and they called it a "Courtesy Trade". Definitely saves some $ on taxes.

[UNSTUCK]

I have the title to my boat which lists US Bank as the lien holder. Same with our last boat through a local credit union (same with any vehicles we’ve ever financed).

I am always surprised to hear folks don’t have their titles...Is that a state by state thing? Perhaps WI requires the owner be sent the title..

State by state. Utah issues titles and allows the banks to hold them. It's their boat till I repay them for it, is the logic. Then there is places like Arizona that don't title boats. The registration acts as title.

[sandm]

I have the title to my boat which lists US Bank as the lien holder. Same with our last boat through a local credit union (same with any vehicles we’ve ever financed).

I am always surprised to hear folks don’t have their titles...Is that a state by state thing? Perhaps WI requires the owner be sent the title..My truck and boat are financed thru capital credit union in green bay.
They have held every title for our vehicles except trailers. Its likely a bank thing and not a wi thing.

[RC_Hinojosa]

Do it through Rinkers. Called an in/out. In essence, you give them the boat on trade for your new one (can be a build slot), the buyer buys the boat from Rinkers. Benefit to you is much much less sales tax on the new boat, and they do all of the paperwork.


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Seeing if I can still somehow make this happen now that the cashier's checks have already been issued.

[Woody929]

Rinkers has to also agree to it.
Example math: You agree to sell for $60k
That counts as a trade allowance for you
New boat: $100k
Taxes if buying if you sell outright: $6,250
Taxes if you can do it the other way: $100k-$60k = $40k * 6.25%=$2,500


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[RC_Hinojosa]

Rinkers has to also agree to it.
Example math: You agree to sell for $60k
That counts as a trade allowance for you
New boat: $100k
Taxes if buying if you sell outright: $6,250
Taxes if you can do it the other way: $100k-$60k = $40k * 6.25%=$2,500


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I'm waiting for Rinker's to call me back...

[Scott-clt]

Just curious, does Rinkers take a cut or commission in this situation for “selling” the boat?


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[Zog]

Just curious, does Rinkers take a cut or commission in this situation for “selling” the boat?


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We did this with another dealer. They charged us for documentation, but it was something like $100. They were happy to do it to make sure they got their Supra sale.

[Woody929]

Just curious, does Rinkers take a cut or commission in this situation for “selling” the boat?


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I would say it depends on your relationship with the dealer. I honestly have no idea how it will work with an out of state buyer. However, if they’re local (which I know they aren’t in this case) you are helping them expand the customer base for future sales/service.


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[Guppydriver]

I've never known a dealer to not do a "pass through" sale as part of new boat purchase agreement. Free in Utah at virtually every dealer except for one that charges a document fee.

[MJHSupra]

I bought my Excursion and drove from TN to KY. When I asked the seller how he wanted the funds, he wanted a cashiers check from my bank (Regions). I offered to wire or use cash, but he wanted the check.

I bought a Chevelle a few years back from a retired car dude in GA. When I asked him how he wanted to get paid, he did not hesitate to say Cash Only.

I’ve taken Cashiers Checks from local people selling cars during wkend transactions.

Comfort level thing.


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[SONIC]

I've done both cashiers and wire.
I'm OK with a cashiers check as long as I have the check number in advance and can call the bank to confirm.

Ask him for his bank name and town and google the phone number don't rely on a number he gives you (obviously, but hey never hurts to reiterate)
With the check number you can have them confirm validity and amount and I wouldn't worry past that.

[RC_Hinojosa]

....and she's gone.

Demoed for buyer, gave him some lessons and got some rides in.

Wiped her down one last time, saran wrapped tower and beltline, covered her up and watched her drive away.

[emoji3064][emoji24]

I'm just gonna put myself in Cryo until my '22 is ready. [emoji3063]

https://uploads.tapatalk-cdn.com/20210424/cc2c17ba520d3702ef612419de474da4.jpghttps://uploads.tapatalk-cdn.com/20210424/57abdac88d0b1bcb9bcb9a5a114eaefc.jpg

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[larry_arizona]

Congrats on the sale...ok, now what’s next?


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[RC_Hinojosa]

Congrats on the sale...ok, now what’s next?


Sent from my iPhone using TapatalkBlack metal flake over black and the side logos will be ptm intense green. .....inside it'll have black GatorStep with lime etch.

[emoji48]

https://uploads.tapatalk-cdn.com/20210425/f4e0b98c958d82a41413b1a2ec87d91e.jpghttps://uploads.tapatalk-cdn.com/20210425/efb0e462982791936125078b0d467f19.jpghttps://uploads.tapatalk-cdn.com/20210425/500446f67e166b26c3398b1b73211ca1.jpg

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[larry_arizona]

That is badass


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[TXSurf4]

Sweet!! Congrats on sale!!! The 22 will be sweet!!! I assume the Revs will be lime green as well?


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[RC_Hinojosa]

Thanks guys, it's gonna be sinister.

Rev cans will likely be ptm as well and I was thinking of black anodized tritons.

I haven't even crawled around on one yet to understand the air space that I have to work with but you can bet it's going straight from Rinker's to Extreme for the audio buildout.
It'll have a least one 15" XXX.

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[russellsmojo]

RC that is a sweet build!


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[Holdmybeer]

Green trailer, right?

[larry_arizona]

Green trailer, right?

I would agree on a green trailer, but RC has a black Superduty and a black trailer works.


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[RC_Hinojosa]

I would agree on a green trailer, but RC has a black Superduty and a black trailer works.


Sent from my iPhone using TapatalkI had gone to black trailer on default but a green trailer is a pretty cool choice I hadn't considered.


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[rdlangston13]

I had gone to black trailer on default but a green trailer is a pretty cool choice I hadn't considered.


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Black with green fenders

[MJHSupra]

....and she's gone.

Demoed for buyer, gave him some lessons and got some rides in.

Wiped her down one last time, saran wrapped tower and beltline, covered her up and watched her drive away.

[emoji3064][emoji24]

I'm just gonna put myself in Cryo until my '22 is ready. [emoji3063]

https://uploads.tapatalk-cdn.com/20210424/cc2c17ba520d3702ef612419de474da4.jpghttps://uploads.tapatalk-cdn.com/20210424/57abdac88d0b1bcb9bcb9a5a114eaefc.jpg

Sent from my SM-N960U using TapatalkCongrats on the sale.

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[Guppydriver]

@RC

Beautiful build!

Sooooo...

How’d you end up settling the sale?

[RC_Hinojosa]

@RC

Beautiful build!

Sooooo...

How’d you end up settling the sale?

The cashier's checks were issued last Thursday by his local US Bank and photos sent to me. I spoke with the branch manager the next morning and she verified the funds.

Wired funds would have been super simple but the checks weren't that big of an ordeal.




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[haknslash]

Not going to lie it will be strange not seeing that Ultra blue and yellow boat on here. The new build looks pretty tough and hope you enjoy it! Market is crazy hot and I have pondered selling mine for a newer one but I can't bring myself to go without a boat and no telling what the market will be a year out at this rate lol. Congrats on the sale and new 2022 build slot!

[Isaguel]

Congrats, nice build. I agree with the black trailer and green fenders. That would tie it up nicely. Now you just need to get some lime green stripes on your truck!

[RC_Hinojosa]

Not going to lie it will be strange not seeing that Ultra blue and yellow boat on here. The new build looks pretty tough and hope you enjoy it! Market is crazy hot and I have pondered selling mine for a newer one but I can't bring myself to go without a boat and no telling what the market will be a year out at this rate lol. Congrats on the sale and new 2022 build slot!Yeah, it was a good run in the Ultra Blue crew.

This wasn't on my radar two weeks ago but I was presented an offer I couldn't pass up.



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[RC_Hinojosa]

Congrats, nice build. I agree with the black trailer and green fenders. That would tie it up nicely. Now you just need to get some lime green stripes on your truck!Thanks! Actually, I was thinking of swapping the red in the FX4 decal to green to tie them together [emoji16]

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[larry_arizona]

Not going to lie it will be strange not seeing that Ultra blue and yellow boat on here. The new build looks pretty tough and hope you enjoy it! Market is crazy hot and I have pondered selling mine for a newer one but I can't bring myself to go without a boat and no telling what the market will be a year out at this rate lol. Congrats on the sale and new 2022 build slot!

Might I suggest you put a deposit down for a 22 order, use your boat August, put it on only inboards, if it sells great, order the 22.

If it doesn’t sell, keep it and get your deposit back. This strategy may have worked for me. Lol


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[larry_arizona]

Thanks! Actually, I was thinking of swapping the red in the FX4 decal to green to tie them together [emoji16]

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I changed my FX4 decals and the tailgate insert F150 lettering to match the boat.


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[j.mo]

Might I suggest you put a deposit down for a 22 order, use your boat August, put it on only inboards, if it sells great, order the 22.

If it doesn’t sell, keep it and get your deposit back. This strategy may have worked for me. Lol


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Not to hijack this thread, but I am interstates in something like this per se for a Supra SL.
If I had a configured msrp of roughly $150k, what could I expect to really pay?


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[larry_arizona]

Not to hijack this thread, but I am interstates in something like this per se for a Supra SL.
If I had a configured msrp of roughly $150k, what could I expect to really pay?


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Low $120’s plus tax and freight. But keep in mind the 22 SL will be all new, so expect a base price increase


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[russellsmojo]

Low $120’s plus tax and freight. But keep in mind the 22 SL will be all new, so expect a base price increase


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Do you think 15% or more off is realistic in current environment? Figured that discount had tightened some


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[larry_arizona]

Do you think 15% or more off is realistic in current environment? Figured that discount had tightened some


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Not sure, but 20% was typical.


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[russellsmojo]

Not sure, but 20% was typical.


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Agree. Wasn’t saying you are wrong. More curious if that is still happening.


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[larry_arizona]

Agree. Wasn’t saying you are wrong. More curious if that is still happening.


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My dealer maintained status quo. Not sure why though.


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[Stazi]

Cashier's checks are the most common fraud these days. Most appear to have cashed and then the bank will actually reverse them once fraud comes to light.
The only way I would accept a cashier's check, is if it was issued by the bank in front of me. Ask for a wire. 100%.

Absolutely this![emoji115]


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[larry_arizona]

If the buyer passed a fake cashiers check, that is fraud and if you have his contact information (driver’s license, Truck plate) it would be simple to track said person down for arrest and prosecution.

At minimum, it would not be difficult to find that boat [emoji16]

Not saying it doesn’t happen, but it’s relatively low risk.


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[parrothd]

If the buyer passed a fake cashiers check, that is fraud and if you have his contact information (driver’s license, Truck plate) it would be simple to track said person down for arrest and prosecution.

At minimum, it would not be difficult to find that boat [emoji16]

Not saying it doesn’t happen, but it’s relatively low risk.


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Naw, that's a civil matter you'd have to sue, the police won't help you. Even then you'd be waiting a long time to get any recourse or the boat back. Easier to protect yourself in the first place by cashing the check at the issuing bank while doing the transaction.

[larry_arizona]

Naw, that's a civil matter you'd have to sue, the police won't help you. Even then you'd be waiting a long time to get any recourse or the boat back. Easier to protect yourself in the first place by cashing the check at the issuing bank while doing the transaction.

Then said buyer would be getting a visit from Smith and Wesson........


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[parrothd]

Then said buyer would be getting a visit from Smith and Wesson........


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And you'd be in jail.. Lol

[larry_arizona]

And you'd be in jail.. Lol

Depends on the state.


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[RC_Hinojosa]

Easier to protect yourself in the first place by cashing the check at the issuing bank while doing the transaction.

This doesn't really apply for out of state dealings unless it's a national bank with a large footprint.

I have Chase....I'm pretty sure you can find a Chase just about anywhere.

Buyer uses US Bank, they have no branches in the southern half of Texas.

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[RC_Hinojosa]

If the buyer passed a fake cashiers check, that is fraud and if you have his contact information (driver’s license, Truck plate) it would be simple to track said person down for arrest and prosecution.

At minimum, it would not be difficult to find that boat [emoji16]

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Wiseguy is saying I don't do subtle [emoji1787]

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[sandm]

just peddled ours- or in the process of.

buyer sent 2k via venmo yesterday. never used that app but it was pretty easy.
80k is his loan amount so his bank is wiring the money once his loan is processed.
bringing the other 10k in cash- crisp clean bills with him.

said the 10k in cash he's keeping off the books will save him $800 in taxes. down side is it's an hour round trip to my bank in north vegas to deposit and sure they will hassle us over that much in cash but if it saves him coin.....

maybe a trip to Larry Flint's club with the cash :p

[parrothd]

This doesn't really apply for out of state dealings unless it's a national bank with a large footprint.

I have Chase....I'm pretty sure you can find a Chase just about anywhere.

Buyer uses US Bank, they have no branches in the southern half of Texas.

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I talk with the buyer and let them know which banks are local to me and get a cashiers check from those banks.

They buyer can figured out how they want to fund that... :)

[Guppydriver]

just peddled ours- or in the process of.

buyer sent 2k via venmo yesterday. never used that app but it was pretty easy.
80k is his loan amount so his bank is wiring the money once his loan is processed.
bringing the other 10k in cash- crisp clean bills with him.

said the 10k in cash he's keeping off the books will save him $800 in taxes. down side is it's an hour round trip to my bank in north vegas to deposit and sure they will hassle us over that much in cash but if it saves him coin.....

maybe a trip to Larry Flint's club with the cash :p

Please tell me you are going to buy a briefcase (and handcuffs to use with it), and white suit with fedora in which to deliver the cash to your bank. Please....

[Josh828]

Actually don't hand your bank 10K
10K is actually the magic number around here
$9999 is fine cash deposit but 10 triggers an automatic audit I believe

[sandm]

thx josh. we had talked about giving them 9900 and keeping a benjamin to go have a nice meal on. celebrate paying off our last car.

[brad460]

thx josh. we had talked about giving them 9900 and keeping a benjamin to go have a nice meal on. celebrate paying off our last car.

Depositing $10k is absolutely fine...it’s intentionally depositing under $10k to avoid the extra scrutiny is the illegal part..:eek:

[Jason1975]

A cashiers check can only be drafted if the person drafting it has enough money in their account. Its then locked or "held" until the check is cashed. A cashiers check should be fine.