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07-13-2017, 11:41 AM #11Junior Member
- Join Date
- Jul 2016
- Posts
- 11
Cashier's checks can and are forged very easily. However a call to the bank to verify the check is legitimate is also very easy. So with a couple of precautions checks can be taken without much issue.
That being said in this day and age of electronics why not just wire transfer it? I don't want cash, its to hard to manage and easy to lose. I certainly don't want to be at the interstate rest stop counting out 45k in 20's while a) the highway patrol is watching wondering what the hell is going on or b) crack head in the car next to us is wondering how far we can go before we will need to stop for gas so he can whack me in the head.
Another option is if they are financing the boat (most likely) then their loan officer will gladly send you the check directly from the loan proceeds in exchange for you sending the paperwork he needs for the transaction. ( I do this everyday, especially with boats because of the lack of titles) the seller usually has to wait an extra day or two but the guaranteed funds is usually worth it.
Just some ideas.Rob
'17 Moomba
Craz
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07-13-2017, 11:55 AM #12
Agreed. I see too much risk with taking a cashiers check. It's a pretty common scam these days.
Meeting at the bank, wiring money to the bank, etc. are def the ways to go. Using the bank as the middle man is a solid plan.
Also, keep in mind that if you're depositing more than $10k in cash at your bank you have to fill out extra paperwork so the IRS has a record of that. I had that happen before.2008 Moomba Mobius XLV. Monster Cargo Bimini, WS Rev 410's, Polk Cabins, 3 Infinity Subs, PPI amps, WS420, Exile BT, upgraded ballast pumps, up to 3,500+ pounds of ballast, Blue LED's...
1992 Supra Sunsport. **SOLD** 2k pounds ballast, Surf System, Blue LED's everywhere, decent audio system.
Tow Rig: 2013 F150 Ecoboost FX4 (wife's rig) Other money pits include:1998 BMW M3 Cabriolet, 2009 Audic A6 Avant 3.0T, 2005 Kawasaki ZX-6R 636.
www.TraysonsToybox.com
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07-13-2017, 12:08 PM #13
Regions told me (in most scenarios) they would not have verification of a cashiers check until next day.
Perhaps a local bank or credit union would be easier to work with but that was my experience.2016 Moomba Mojo
2006 Supra 24SSV - Traded
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07-13-2017, 02:28 PM #14
From the buyers end they want to make sure that the UCC filing is free and clear. A UCC filing is often used on items that do not have titles such as a boat. When I bought out first one the seller had to write out a $6K check to clear it. Without them doing that they could have defaulted and the original bank would have rights to the boat and I would have been SOL.
-Mark
14 Mojo - 72 hours and growing
02 Mobius LSV ---- Sold and always will be remembered as the one that started it all.
"Hey you only live once"
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07-13-2017, 03:40 PM #152008 Moomba Mobius XLV. Monster Cargo Bimini, WS Rev 410's, Polk Cabins, 3 Infinity Subs, PPI amps, WS420, Exile BT, upgraded ballast pumps, up to 3,500+ pounds of ballast, Blue LED's...
1992 Supra Sunsport. **SOLD** 2k pounds ballast, Surf System, Blue LED's everywhere, decent audio system.
Tow Rig: 2013 F150 Ecoboost FX4 (wife's rig) Other money pits include:1998 BMW M3 Cabriolet, 2009 Audic A6 Avant 3.0T, 2005 Kawasaki ZX-6R 636.
www.TraysonsToybox.com
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07-13-2017, 04:27 PM #16
It's pretty common in the ag world where there are not titles.
Sent from my SM-G935R4 using Tapatalk-Mark
14 Mojo - 72 hours and growing
02 Mobius LSV ---- Sold and always will be remembered as the one that started it all.
"Hey you only live once"