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
wapiticountry wrote:PA12DRVR wrote:
Interesting thread.
If the OP is by chance still observing, one way to avoid 99.99% of the hassle / risk of banks / cashier's checks / cash reporting would be to have a title company (or the escrow department of banks that still offer the service) simply undertake an escrow service: will add a few days to the transaction time, but eliminates risk and (IMNSHO) lots of hassle.
Don’t think there are Escrow companies that pay out $45,000 in cash. They wire or use cashiers checks. For some reason the poster wants to instantly have a big stack of greenbacks, nothing else.
Actually, the OP (who hasn't been back near as I can tell) said: "I will ask buyer to give me cashier's check of a bank that has local, branch, I think. I want to be able to go to the branch in person and cash the check and also first verify that the check is good, before I sign the title over.
Had anyone done a sale like this? What are the steps with cashier's check handling to make sure one won't get defrauded?"
Escrow avoids fraud and the seller could take the Title Co's check to the local bank and cash that if they wanted cash...but that would of course trigger the scrutiny of the regulators
