Avoiding payment problems when selling your MH

rockhillmanor wrote:
Yes but have you googled about the people who accepted cashiers checks and then were arrested for the bad check themselves when it comes back counterfeit?

Been there done that and became part of the scam. :(

And it was a counterfeit cashiers check. AND YOU are the one held responsible for fraud not the person who gave it to you. Because you put it in 'your' account. It does not become apparent until it goes thru the banking system and back to your account.

If you go into an actual bank you will not be issued a counterfeit check.

Confirmed wire transfer is still best.

I may need to be corrected here !
A wired transfer of funds (money) from his bank to your bank. The funds are available then .
If its a cashiers check there is a waiting period of so many business days before funds are available to you.?

I learned the hard way years ago, I sold a truck to a friend, he wrote me a personal check, I knew he was good for it so no worries.
I assumed I could just simply put the check in my account , take out a portion of it and go buy a pristine 1972 El Camino I had sold my truck to buy !
Nope bank sat on the check to clear for ? business days.. I lost out on the El Camino and my friend was driving his new to him truck.
And I was on foot !

rockhillmanor wrote:
And have them sign the title right there in front of you and get a copy of it.

Over my life time I have had 2 people that I have sold a vehicle to go on and never sign the title and before they registered it and/or purposely did not register it, got in accidents and the cops showed up at my door. :R

My little ole straight 6 van that I sold actually gave the cops a run for the money before they abandoned it! :B

I just sold my toad and the guy didn't want to sign the title. I told him he either signs it in front of me or no deal.

In California you can go online and fill out a simple form that releases the seller of ALL liability once the transaction is complete. In California if you decide to mail the change of address/seller form they provide on the title,make a copy and mail it in twice. That advice was from DMV. Recently sold a muscle car for many $$. Met buyer at her bank, received check from her teller, walked to my bank and deposited it. Carried cashiers check to Minnesota to purchase my Class C, bank there didn't like it. Wire transfers are the best but even they have issues. I deal with Wells Fargo and they are becoming less of a friend all the time.

And have them sign the title right there in front of you and get a copy of it.

Over my life time I have had 2 people that I have sold a vehicle to go on and never sign the title and before they registered it and/or purposely did not register it, got in accidents and the cops showed up at my door. :R

My little ole straight 6 van that I sold actually gave the cops a run for the money before they abandoned it! :B

I just sold my toad and the guy didn't want to sign the title. I told him he either signs it in front of me or no deal.

Your bank will handle the funds transfer for you (free or small fee). That way the title won't be released 'till the funds clear.

Also, MAKE SURE that the buyer signs an "as is" bill of sale!!! That way you're covered if the transmission falls out a week later, and it also forces him to acknowledge (in writing) that he is responsible for the sales tax.

I prefer wire transfers. Sign the title and leave it with someone at YOUR bank. When the wired funds are in YOUR account at YOUR bank, your banker can hand them the executed title. Essentially, it is a "soft escrow", your person at the bank just holds your title until Federal Funds are deposited in your account at your bank.

Just type out specific wire instructions (which YOUR banker will help you do) and tell the seller this is the way you do business. Money transfers using the Fed wire normally take only a short amount of time.

Every one is protected: seller, buyer, banker.

Paul

As others have noted, meet the buyer at his (her) bank and do the transaction there, with their bank wire transferring the funds to your bank; simple and fast.

I sold a MH to a local person last year.
Met at HIS bank, sat down with his account manager which made a cashiers check payable to me.

We may be selling our MH and the DW is concerned. I told her we would meet the buyer at our bank's parking lot and when I get the cashier's check deposited, he gets the title.
My DW worked for a bank 2 decades ago and said you know they can put a stop payment on those checks and they can make counterfeit checks.
Cash only?
Yes, I have read about the scams.

Yes but have you googled about the people who accepted cashiers checks and then were arrested for the bad check themselves when it comes back counterfeit?

Been there done that and became part of the scam. :(

And it was a counterfeit cashiers check. AND YOU are the one held responsible for fraud not the person who gave it to you. Because you put it in 'your' account. It does not become apparent until it goes thru the banking system and back to your account.

Look it up. Tons of people scammed and then arrested for depositing the counterfeit check. I had to go to the DA to get my situation straightened out. And the only reason I did not go to jail is that I had talked to my bank 'prior' to the transaction to be assured it would be legit transaction. The bank said no problem. Go figure.

Cashiers checks are no longer considered the same as cash like they were years ago before Nigeria became involved.

CASH is the only way I will sell anything period. There is really no other way anymore to sell with all the scams and counterfeits.

When you get into selling the higher cost RV's? My answer to that was I put mine on consignment. The dealership deals with the money transaction and I get a REAL check from them.

Duck wrote:
My bank told me that the best way is to take a void copy of my check and go to his bank and have them do a wire transfer to my account.
Don

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