JRscooby wrote:
westernrvparkowner wrote:
The check is going to be made payable to the seller. It is sent to the buyer so they can exchange it for the RV. When a bank makes a loan for a vehicle they never, ever just give cash or a check payable to the borrower and hope they then complete the transaction.
With enough imagination, it is possible to concoct a wacky scenario were any transaction could be a fraud. Even "meet me at my bank and I will give you cash" could just be a trick to steal your RV when the buyer's accomplice is waiting outside to bop you over the head and steal back the money. In this case, it sure sounds like the OP has investigated it enough to know the transaction is legit and I think they would be walking away from a sale should they resist following the steps the bank is providing.
Many years ago, I was selling a trailer, (Not RV) and a friend was selling another. The buyer met us at a local bank where both sellers had accounts. Buyer had a cashiers check drawn on his bank couple hundred miles away, made out to himself. Banker made some calls to bank, credited my and friend's account, we signed titles, banker notarized, went to lot, hooked trailers to his trucks, had a round of beer. All was good for about 3 weeks, until the banks figured out the buyer had copied the check. My friend went to the Sheriff in buyers home county to make a report, was told it was a civil matter, hire a lawyer and sue. (Might of been a racial issue, I might of had better results) Nearly bankrupted my friend. Was enough outlaw in me to get my trailer back, but bouncing checks still cut me deep.
WRVPO, Not all financing results in a bank written check made out to the seller. My last car loan, they deposited the funds into my account and I took it out in cash to pay the seller.
JRScooby, the "red alarm" on that transaction is that the buyer signed over a check made out to himself to pay your friend. That was NOT the same as cashing a check and then giving you the cash. By signing over the check, the seller basically wrote your friend a check. And it was subject to the same risks that accepting any other check incurs.
As an added note, don't ever let someone cash a check written out to themselves at your bank to give you the cash. If the bank uses your account to "verify" or "ensure" the check, then they can take your account funds if that check bounces. Always make the person cash their check at THEIR bank or at a bank you have no association with (and don't go to the counter with them) - that way you will not be held liable if the check is bad.
The police were right in that it was a civil matter. It was simply a bounced check as far as your friend's interests were concerned. Had the buyer cashed the check at his bank, then gave your friend the cash, then it would have been a criminal act of forgery and the BANK could file a criminal complaint.
