Selling - okay to take a personal check?
Selling my Class A DP. Is it okay to take a personal check for the funds? I DO NOT transfer title until the funds clear. Thus if the check bounces then that's fraud, perhaps even grand theft au...
Forum Discussion
gutfelt wrote:
I personally think your dead wrong;1)You tell your insurance company that you allowed a stranger to take your MH and the check bounces even though you still hold title ? there going to say to you "Not our problem" wheres the theft claim? you gave it to them willingly
and 2) why would you ever take such a risk? do as I suggested earlier Hold the title and the unit till the check clears and offer to deliver the unit
If I were a buyer, there is no way I would deal with a seller who took my money but would turn over neither the motorhome nor the title until the check cleared. It may very much reduce their need to trust that I'm acting in good faith, but it requires that I put full trust in their acting in good faith. In other words, it is simply shifting the risk from the buyer to the seller, and I suspect few if any buyers would be willing to accept the sort of risk that few buyers are willing to accept.
When I bought my motorhome from a private individual, I brought a bank check to them and they turned over the title and keys. It worked out fine; we were both dealing honestly.
