Bobbo wrote:
randjj1 wrote:
I just verified with the bank that they did make the cashier's check out to the lien holder, and they are trying to expedite reissue. Turns out the post office did lose it - I've personally had the PO lose several certified letters. I'm relieved to verify that the seller is honest - I got lucky this time. Thank you again for the advice
ol' grouch wrote:
I did read the original post. The seller owed more than he sold it for. There is still a lien against the trailer. That right there puts the buyer in legal limbo with no protection. Until the lien is satisfied, the buyers money can dissappear and he's up the creek without a paddle. I ran a salvage yard and we also sold cars. We got gouged many times from title problems. A reciept from the Postal Service is NOT a title. Does it say how much the lost check was issued for?
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Umm, 2 issues.
Issue 1. If the seller was going to cheat the buyer, why mail ANY money to the bank to pay off the loan? Just keep it all. Since both the bank and the post office verify he mailed the check, he probably did.
Issue 2. Getting his money back is difficult, considering we decided in issue 1 that the seller has already mailed the money off to the bank. I doubt, seriously, if the seller keeps enough ready cash on hand to both pay the bank loan off AND refund the money to the seller.
As far as I can see, the only useful contribution to this thread that you made is this part of the quote.
ol' grouch wrote:
Does it say how much the lost check was issued for?
Hey Bobbo, you beat me to it. He also assumed the seller did not include the remaining balance in his check. Op never said it was not included in check.
