Private sales

[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 )

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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...