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Old 02-29-2020, 06:39 PM   #21
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Trailer: 2018 Casita SD 17'
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I can't speak for other states, but Michigan requires that the seller keep a copy of the signed title and I also make a copy of their driver's license while at it. A phone photo works for that.



As for payment, I will only do cash or do the transaction during business hours so I can verify the cashier's check at their bank. Best to ask what bank they will be using and confirm that the bank will verify a check before the title is signed off.
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Old 02-29-2020, 09:30 PM   #22
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Name: To Infinity & Beyond!
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I got a whole stack of Cashier's Checks sittin here.

How many you want, for what amount and in who's name?
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Old 02-29-2020, 11:27 PM   #23
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Trailer: Bigfoot 25B21RB
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Last summer, I purchased a Bigfoot 21& sold my Bigfoot 19.

I am a believer in cashier’s checks. If you are at all uneasy, speak with the bank that will be issuing it for your trailer. The bank should confirm that when the check is drawn, money will be withdrawn from the buyers account and put into an escrow type account. The buyer cannot turn around and cancel the check.

It turned out that both the BF21 seller and us used the same bank. So we accompanied the seller to their bank, withdrew the selling price and the bank clerk deposited our payment into their account. Simple, and no questions.

First of all, ask for a deposit until you can do banking during the week.

Because you have a credit union account, you can always open an account in your buyer’s bank. Then you can close your new account and transfer funds to your credit union account.

In the interim, ask for a deposit from the buyers.
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Old 03-01-2020, 07:12 AM   #24
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Trailer: Was A-Liner now 13f Scamp
Missouri
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As the Gordon 2 says cash!!

I have carried as much as 30k on me because the seller wanted cash! I wont fly with cash though! Heard too many stories of money getting seized.

As Gordon says you better bring a clean title when this is done! My last trailer deal was cash I sold our A-Liner by the owner wiring money into our checking account! He had it all set up to do it this way!

We listened on the phone while this was done and our bank was available also!

Now if the seller owes money on what he is selling he has to go to his bank and work things out to get the title clean to you another ball of wax! You will probably have to get your bank involved some way. Better make sure all is done during business hours!

Just have your eyes open when buying and selling!

Just remember we are in a new world with the internet and different new ways of stealing!

bob

bob


QUOTE=gordon2;769682]You have a "right" to hold the title if the buyer agrees to that. However, there is no way on God's green Earth that I would give you cash but let you keep the title. If the buyer does agree to that then he or she making a mistake (IMHO). Even if the seller is as honest as the day is long, titles get damaged, lost - sellers get sick or have accidents. Nope.. if I give you cash I'm getting the title.

If you consider this from the buyers point of view I think you will agree.

Cash is king. If you have some doubts, insist the meeting is rescheduled and held at a bank or credit union as described above.

By the way, here at least, titles need to be notarized to be transferred anyway.. so here, a bank is the logical place to get paid and give the notarized title to the buyer.[/QUOTE]
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Old 03-01-2020, 07:57 AM   #25
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I had a conversation with my banker a year ago when we were thinking about selling a Class B motorhome. The price was well above what most people would be comfortable carrying in cash. The answer was unequivocal: no cashierís checks. If the buyer is not local and uses a different bank, cash or electronic transfer is the only secure way to complete the transaction. The banker said there is no way they can know if a cashierís check is legitimate until it goes through the clearing process, which takes several days.

Obviously, if a buyer is local, or you use the same bank, or their bank has a local branch, everything is easier.

I considered- and rejected- PayPal. To me, 2.9% to hold a sum of money for just a few days seems usurious considering itís all done electronically. Maybe Iím being unreasonable and I should just factor it into the price, but it feels like PayPal is in a monopolistic position in that market.
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Old 03-01-2020, 09:38 AM   #26
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Tennessee
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Quote:
Originally Posted by Jane P. View Post
The buyer cannot turn around and cancel the check.
Not True!

A purchaser of the Cashier's Check can request a Stop Payment order on Cashiers Check for any number of reasons:

Theft of check

Fraud in transaction

Felony Fraud if transaction is over $500 in many states

Interstate Fraud

Lost Cashier's Check

Just to name a few. It's not easy however it can be done.

To do so requires the purchaser of the Cashier's Check to fill out forms stating the reason for the Stop Payment Request. In most states/situations the bank will also require the purchaser of the Cashier's Check to purchase a BOND in the amount of the Cashier's Check to cover the check if the Stop Payment is not honored and payment is made. Bonds are not cheap! Then and only then will a determination be made by the bank if there is due cause to stop payment on the Cashier's Check.

It's not an easy process and you better act quick IF you think there is a problem with your Cashier's Check payment. Just understand that YES it is possible to Stop Payment on a Cashier's Check.
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Old 03-01-2020, 01:58 PM   #27
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Trailer: Was A-Liner now 13f Scamp
Missouri
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stop payment

well this is a new one but I learn every day. I will have to ask my daughterinlaw who is a bank president.

I guess when you get that m/o or cashiers check you better write the nrs all down. I go back to the day when we sold American Experess money orders at the store.

Once sold I don't think there was a way to help someone but maybe there was. I just never ran into the problem.

I do know of stores in finachial trouble who used M/Os to pay their bills but they bounced! I would have never thought this up?

bbo

Quote:
Originally Posted by vintageracer View Post
Not True!

A purchaser of the Cashier's Check can request a Stop Payment order on Cashiers Check for any number of reasons:

Theft of check

Fraud in transaction

Felony Fraud if transaction is over $500 in many states

Interstate Fraud

Lost Cashier's Check

Just to name a few. It's not easy however it can be done.

To do so requires the purchaser of the Cashier's Check to fill out forms stating the reason for the Stop Payment Request. In most states/situations the bank will also require the purchaser of the Cashier's Check to purchase a BOND in the amount of the Cashier's Check to cover the check if the Stop Payment is not honored and payment is made. Bonds are not cheap! Then and only then will a determination be made by the bank if there is due cause to stop payment on the Cashier's Check.

It's not an easy process and you better act quick IF you think there is a problem with your Cashier's Check payment. Just understand that YES it is possible to Stop Payment on a Cashier's Check.
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Old 03-02-2020, 03:38 PM   #28
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Name: Evelyn
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SOLD Bigfoot

I have SOLD my Bigfoot. It is enroute to WA state, and the new owner is just the sort of person I was hoping would buy it. He told me he was in love with it before he even saw it in person.

So, this marks an era of my life coming to a close. I'm an emotional mess, watching the Bigfoot being towed away by someone new, but I know this young man will give "Marty" all the TLC that she deserves.

As far as the money transaction, we went into my credit union together to deposit the cash he brought, and they provided a quiet area where we took care of all the paperwork.

Happy New Home, Marty! (Thank you, folks, for all the great advice.)
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Old 03-02-2020, 03:51 PM   #29
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Congratulations on a quick and relatively painless sale.
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Old 03-02-2020, 05:18 PM   #30
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SOLD Bigfoot

Quote:
Originally Posted by JonRaw View Post
Congratulations on a quick and relatively painless sale.

Thank you, Jon. When the buyer is happy, and the seller is happy, then it's all good!
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Old 03-03-2020, 07:27 AM   #31
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I'm taking notes against future need. The best way to check for counterfeit money is to hold the bill up to the light and see if you can see a watermark through it. I was very concerned lest I not recognize the watermark but it is quite distinctive. If somebody has figured out how to mmake a false watermark on their fraudulent bills we will all have a lot more problems than one fraudulent transaction
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Old 03-03-2020, 07:35 AM   #32
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Name: bob
Trailer: Was A-Liner now 13f Scamp
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I always thought

I always thought passing or attempting counterfeit bills was a big federal no no! Well apparently not! I know a guy who did it got caught and got a slap on the wrist.

I guess the Federal government has so much crime on their hands now this is not on the top of their list anymore..

Glad the trailer went to a good home and yes no doubt hard! We did our last overseas trip to Israel last April after 8 trips to Europe but all good things come to an end! We have taken our tent on every trip and have had some great times.

Take my word for it people are kind all over the world when problems arise!

bbo
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Old 03-03-2020, 07:55 AM   #33
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Quote:
Originally Posted by Mitzi Agnew-Giles View Post
I'm taking notes against future need. The best way to check for counterfeit money is to hold the bill up to the light and see if you can see a watermark through it. I was very concerned lest I not recognize the watermark but it is quite distinctive. If somebody has figured out how to mmake a false watermark on their fraudulent bills we will all have a lot more problems than one fraudulent transaction
Pretty sure some already have. The most commonly counterfeited bill is the $100. Itís a cat-and-mouse game to stay one step ahead. The current Franklin has numerous security features, and bank employees are trained to recognize the latest. Thatís why completing a sale at a bank is a good practice.
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Old 03-03-2020, 09:25 AM   #34
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Surprised nobody mentioned an escrow service, like escrow.com. Probably the safest way there is to my knowledge.
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Old 03-03-2020, 09:29 AM   #35
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remember

Remember all the old movies where the counterfeiter had those perfect plates and all the drama around it?

fun day

bob

Quote:
Originally Posted by Jon in AZ View Post
Pretty sure some already have. The most commonly counterfeited bill is the $100. Itís a cat-and-mouse game to stay one step ahead. The current Franklin has numerous security features, and bank employees are trained to recognize the latest. Thatís why completing a sale at a bank is a good practice.
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Old 03-03-2020, 12:13 PM   #36
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Quote:
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Surprised nobody mentioned an escrow service, like escrow.com. Probably the safest way there is to my knowledge.
Hadnít heard of it, and I was involved in another lengthy thread on the subject on another forum when I was preparing to sell my Class B.

I visited the site, but couldnít get any detailed information about cost, terms, and fine print without parting with a lot of personal information. Didnít exactly inspire confidence. Have you used it?
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Old 03-07-2020, 11:31 AM   #37
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Originally Posted by Ev in Oregon View Post
I know wire transfers and such are not the way to go.

BILLIONS OF DOLLARS are wire transferred around the world on a daily basis in complete security with an electronic trail of the transaction and easily confirmed transfer of funds.

Why in world would you make a foolish statement such as above????
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Old 03-07-2020, 11:32 AM   #38
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@Ev in Oregon When I've sold cars in the past I've gone to the buyers' bank with them to get a cashier's check. I think it's probably the most secure especially for large sums of money.

I do own one of the marking pens that you can pick up at Staples to check for counterfeit currency (at least in the US)
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Old 03-07-2020, 11:38 AM   #39
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I see a number of a folk suggesting cashier's checks. Please be aware that cashier's checks, also known as bank checks, are fairly easy to falsify, and can leave you out your entire transaction value.

Wire transfers are the most reliable, followed by cash. The best resource for cash verification would be any business that does a large amount of cash transactions. Most grocery stores have cash counters that also verify the validity of the bills, and all banks that I have done business with do. Thinking about it, check cashing stores also do.

You could go into any of these that is open in the hours that you need, and prearrange to be able to use their services. Some businesses would do this for free, some would likely charge a nominal amount.

You could also have your bank teller coach you on identifying valid bills, as it's not difficult.

ETA - Oh, and congratulations on your sale... :-)
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Old 03-07-2020, 11:43 AM   #40
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Originally Posted by Thomcat316 View Post
I see a number of a folk suggesting cashier's checks. Please be aware that cashier's checks, also known as bank checks, are fairly easy to falsify, and can leave you out your entire transaction value.

Wire transfers are the most reliable, followed by cash. The best resource for cash verification would be any business that does a large amount of cash transactions. Most grocery stores have cash counters that also verify the validity of the bills, and all banks that I have done business with do. Thinking about it, check cashing stores also do.

You could go into any of these that is open in the hours that you need, and prearrange to be able to use their services. Some businesses would do this for free, some would likely charge a nominal amount.

You could also have your bank teller coach you on identifying valid bills, as it's not difficult.
They can be falsified, yes, That's why I have always gone into the bank with the seller. The Teller hands ME the cashier's check: so it's verified.

I'm not a big fan of wire transfers as I don't like giving out that sort of information.

For me: Cash is king, followed by cashier's check.

Definite don't is a personal check.
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