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Thread: Private sales

  1. #1
    Join Date
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    Default Private sales

    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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  2. #2
    Join Date
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    Default Private sales

    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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  3. #3
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    Default

    Quote Originally Posted by larry_arizona View Post
    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 Tapatalk
    I 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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  4. #4
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    Quote Originally Posted by larry_arizona View Post

    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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  5. #5

    Default

    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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  6. #6
    Join Date
    May 2010
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    Default

    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.
    Scott
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  7. #7
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    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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  8. #8
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    Default

    Quote Originally Posted by RC_Hinojosa View Post
    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.



    Sent from my Note 9 using Tapatalk
    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)
    Josh
    2021 Mojo, Coming april 2021

  9. #9
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    Default

    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.
    '06 Supra Launch 20SSV-gone but never forgotten

  10. #10
    Join Date
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    I would make him go to the bank with you while you deposit it since he is already going to be in town.
    David

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