Would you accept a Cashier Check for payment? - Fiberglass RV



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Old 05-13-2019, 07:27 AM   #1
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Name: John
Trailer: 2019 Oliver Elite II
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Would you accept a Cashier Check for payment?

When selling long distance and the buyer wants to bring a Cashiers Check for payment, would you except it and release the trailer and title to them. I guess what I'm asking in today's world with everything that can happen and go wrong, including scams, dishonest people trying to take advantage of the situation, would you accept a Cashiers Check for payment My personal thought if I were the buyer I would not want to do anything without inspection of the trailer, that is put my eyeballs on it, then I would decide from there. My personal thought is for the buyer to bring cash ($20,000, or give a personal check, or Cashiers Check and when it clears my bank they can pick it up. So what is the proper way you would handle the situation to protect your interest. I also do not want to give them the trailer and when the check, or Cashier Check clears send them the title and paperwork. It's not that I don't trust buyers, but I want to do business in a business type manor, that works for both parties and I don't want to have to drive 500 miles looking for a trailer I can't find if something goes wrong. Your thoughts.

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Old 05-13-2019, 07:50 AM   #2
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Name: Terry
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Personally, I would not do anything that did not involve meeting in person. There are a lot of scams out there and quite a few of them involve cashiers checks. And unfortunately, our little trailers seem to attract the wrong crowd. I recently sold a piece of land and we met at the bank, signed the paperwork and the money was transferred between our accounts. You might want to see if your bank can do that for you.
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Old 05-13-2019, 07:51 AM   #3
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Name: Daniel A.
Trailer: Bigfoot 17.0 1991 dlx
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In today's world its a fair question would you even be able to tell if the Cashiers Check is real but then again asking someone to carry 20,000.00 cash is also a concern for the other party maybe get robbed.



Here in Canada we have a very uniform banking system with only 6 banks in the country and all know the same information.


Funny thing last month I sent a fellow a postal money order in Texas one post office tried to tell him it was not real it took three days to cash.



My thoughts are the best safest way to go is use a broker.
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Old 05-13-2019, 07:51 AM   #4
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Cash is king, the only thing you have to worry about is if you can count.

Cashier check are easily counterfeited. A cashiers check drawn from a major banking company, eg. Bank America can be taken to a Bank America in your area. And verified within there system and cashed there.

If they want your trailer bad enough they can figure a way to get you paid. Bank transfers with verified funds.
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Old 05-13-2019, 08:04 AM   #5
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Name: JD
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Do not accept a cashier's check unless you hold on to the goods until it has "cleared" and even then your bank can claw back funds if they are defrauded.
Cash is king.
Bank transfer might be the way to go with this.
If they want to buy the trailer they will find a way.
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Old 05-13-2019, 08:22 AM   #6
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I bought my camper long distance. I used a cashier's check. Since my bank, USAA, doesn't have branches, I told the seller the check would be sent directly from my bank and to look it for it. I was also away from home and used a carrier on uship to deliver the camper. This gave the seller time to process the check. Overall, I think just communicating back and forth helped things go relatively smoothly.
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Old 05-13-2019, 09:16 AM   #7
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Name: Andy
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I would accept a cashiers check. If you are concerned that the cashier's check could be a forgery and the buyer doesn't want to bring cash, which is a fair concern on the buyer's part, see if the buyer is willing to wire the money to you. A wire transfer is quick and you have immediate confirmation that the money has been transferred.

When I bought my Escape, I used a wire transfer. I had arranged ahead of time that I might want a wire transfer and had provided my adviser with the necessary information and once we had a deal, I called my adviser and had them transfer the money.
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Old 05-13-2019, 09:24 AM   #8
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Cash is king but you need to be careful not to get ripped off.

When I bought my Egg - from a completely honest and up-front guy - I took cash; I also took my son-in-law, who's a cop.

Last time I bought a car on a person-to-person basis, we both had accounts at the same bank (although different branches), so we went there and did a cash transfer. He signed the title and bill of sale, and we both went on our merry ways. The money never saw the light of day.
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Old 05-13-2019, 09:34 AM   #9
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Name: Candace
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Nope

Cashier's checks are notoriously easy to fake. I would want to find a way to do the transaction at a bank where I walk out with funds - in hand or wired to my account. If your buyer banks at one of the nationwide banks this shouldn't be hard to accomplish.
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Old 05-13-2019, 09:34 AM   #10
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Name: Avey
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Quote:
Originally Posted by trainman View Post
When selling long distance and the buyer wants to bring a Cashiers Check for payment, would you except it and release the trailer and title to them. I guess what I'm asking in today's world with everything that can happen and go wrong, including scams, dishonest people trying to take advantage of the situation, would you accept a Cashiers Check for payment My personal thought if I were the buyer I would not want to do anything without inspection of the trailer, that is put my eyeballs on it, then I would decide from there. My personal thought is for the buyer to bring cash ($20,000, or give a personal check, or Cashiers Check and when it clears my bank they can pick it up. So what is the proper way you would handle the situation to protect your interest. I also do not want to give them the trailer and when the check, or Cashier Check clears send them the title and paperwork. It's not that I don't trust buyers, but I want to do business in a business type manor, that works for both parties and I don't want to have to drive 500 miles looking for a trailer I can't find if something goes wrong. Your thoughts.

Absolutely not!
What I would do is check into Bank transfers.
We have also transfered vehicles ownership in a private room in our bank. With the bank accepting their money and transfering it right into our account.
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Old 05-13-2019, 10:04 AM   #11
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Treat a cashiers check like a personal check.

I bought my trailer with a personal check. I gave them a 10% deposit with a check and got a detailed receipt. Then two weeks later I paid them the rest with a check and told them to call me when it cleared the bank. And I got another detailed receipt. There was some risk on my part, but not as much as it would have been for them to let the trailer go with just a personal check from me, so I told them I was not interested in taking the trailer until the check cleared.

I considered a cashiers check, but was told by the bank that they don't release the funds until the check clears and that those checks are subject to a lot of fraud.

So, again, treat a cashiers check the same as you would a personal check. You can also go to the bank with the buyer and have them cash a check and hand you the cash. This avoids having the buyer carry lots of cash and the seller can make a quick deposit, if needed, at that bank or another one close by.

Then, I bought a boat and the seller demanded a cashiers check! Sheesh. I tried to point out that they could just wait for my check to clear before doing the paperwork, but no. So off the the bank I went, where I was told again, that cashiers checks are not real safe.
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Old 05-13-2019, 10:36 AM   #12
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Name: JD
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Originally Posted by Dan-NS27 View Post
I bought my camper long distance. I used a cashier's check. Since my bank, USAA, doesn't have branches, I told the seller the check would be sent directly from my bank and to look it for it. I was also away from home and used a carrier on uship to deliver the camper. This gave the seller time to process the check. Overall, I think just communicating back and forth helped things go relatively smoothly.
I could think of a less secure way to buy or sell something, but I would have to stay up late at night to do it.
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Old 05-13-2019, 10:48 AM   #13
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A safe and simple transaction

Have the other party go to their bank manager, you go to yours, and have the two banks get on the phone to one another and make the financial transaction. Worked for me when I bought my FRG out of state.

No cashier's checks, no money orders, no personal checks.

All purchase transactions should be post-inspection (by buyer or buyer's representative).
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Old 05-13-2019, 11:08 AM   #14
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My process has been to accept a cashiers check, but with hold transferring title until funds have cleared and are in my bank. Similar to you purchasing car with a loan, they withheld the title until the loan is paid off. So, make it clear that title will not be released until the funds are cleared.
The other item is get a copy of their driver's license for the bill of sale purpose and to make sure everything is proper.
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