Selling an RV/payment
I will be selling my RV a few months later and need to understand how I can safely receive a payment. I want to sell to a private party. It's going to be selling for 40-45K. Receiving bank wire won'...
Forum Discussion
JRscooby wrote:valhalla360 wrote:
Title gets signed off...when your bank confirms the money is in your account with no way to claw it back. Go to your bank and ask what they will accept with those conditions.
Years back I sold a trailer. The buyer had a cashiers check. Went to my bank, had them verify the check was good by calling bank where buyer got loan. Deposited check, had bank notaries stamp signature. At same time, same buyer bought another trailer from friend, same deal.
As turns out, I was lucky. I was selling because did not need the trailer. Friend was selling because needed money. Couple weeks later, he had checks bouncing, and I got notice of balance reduction.
Turns out buyer had used a good copy machine, cashed the real checks. Friend called sheriff of buyer's home county, was told civil matter, friend would have to sue.
And when you talk of cashing check, that has risks. There is chance you will meet bad actors. Some will take cash illegally, others take cash, make you pay lawyer to get it back. (Look at CAF laws)
So the seller wrote a legit cashiers check for “cash” and then photocopied it and cashed it before handing it to you?
Either it’s a fos story or a lesson in not taking a check made out to “cash.”
Regardless, that won’t happen now if you verified funds at the time of cashing or deposit.
