Home › Forums › Bass Cat Boats › Selling a boat…. Am I worng here
ctford.
I just had the sale of my PII fall through because the buyer wanted to give me a cashiers check for 30k + and I was advised by my bank and several others that a bank to bank transfer is the most secure way to go. The buyer was from out of state and I just didnt feel comfortable with a peace of paper while my boat drove away. Im a police officer so unfortunately I tend to be very skeptical of people I dont know but am I wrong here? The plan was for the buyer to come down here and look over the boat, water test it all he wants and then ride up to the bank for the transfer after they were completely satisfied with the boat. Done deal, hes got a great boat and I know the money is on its way to my account. Am I in the wrong way of doing business here? Thanks.
Not sure….My last boat sale I sold to guy from another state and I took a personal check. He agreed to go to my bank so they could call his bank and verify funds. No problems with my transaction. I wouldnt hesitate on a cashiers check. Your bank could of called the issuing bank.
GRR884 wrote:Not sure….My last boat sale I sold to guy from another state and I took a personal check. He agreed to go to my bank so they could call his bank and verify funds. No problems with my transaction. I wouldnt hesitate on a cashiers check. Your bank could of called the issuing bank.I agree with Gary… I did the same with my last buyer and he was from out of state.
Bank to bank is one of the most secure ways, but there are ways to determine whether a person has the money or not. Conversation on the phone is usually enough. If youve talked to the guy on the phone several times and and developed some sort of relationship with the guy then hes likely good for the money. You could have taken the check to the bank. They will put a large portion of the check on hold. The hold is likely 7-10 days. Once the check cleared you could have turned over the boat. You could have also let him have the boat, but held on to the titles until check cleared. If the check didnt clear then you could have said it was stolen. Remember you still have the titles. And as said above……….. your bank could have helped you out and researched a little farther for you. Being a police officer you probably have ways to doing some sort of background check yourself on someone. Ive sold boats all over the country and even two out of the country and never had a problem. Someone that is wanting to stiff you isnt going to have multiple conversations or isnt going to know a lick about fishing or bass boats.Youre leaving a whole lot of information out of your question………..so its hard to determine whether the individual was legit or not.
Your Bank could have called to verify the check its not hard. Had a guy on here get a cashiers check handed it to my banker she called all good funds in the bank with a click of the mouse.
Nothing wrong with a Cashiers Check as long as you verify it. I had my bank do this several times for sales of various items and never had an issue. If the check is a “real” cashiers check it is as good as cash. It cant bounce after its deposited. Dont be so paranoid. I sold a Champion Boat of mine a few years back to a guy who drove from Scottsdale, Az to Alabama with $28K in Cold Hard Cash! He had the bank withdrawal receipts so I knew it wasnt counterfeit, drug or Mafia Money. Last edited by Bama96 on July 11th, 2012, 1:15 am, edited 1 time in total.
Bama96 wrote:Nothing wrong with a Cashiers Check as long as you verify it. I had my bank do this several times for sales of various items and never had an issue. If the check is a “real” cashiers check it is as good as cash. It cant bounce after its deposited. Dont be so paranoid. I sold a Champion Boat of mine a few years back to a guy who drove from Scottsdale, Az to Alabama with $28K in Cold Hard Cash! He had the bank withdrawal receipts so I knew it wasnt counterfeit, drug or Mafia Money. Wow, 28k worth a green backs! Now thats an interesting sale Chet.
824, Id have had my bank call on the cashiers check and took the deal, just dont send the title till the check clears. Ive been a cop 19 years, never arrested a man that wanted a BassCat. I have put a lot of trout and pike fishermen in jail though.
Flyswatter wrote:Bama96 wrote:Nothing wrong with a Cashiers Check as long as you verify it. I had my bank do this several times for sales of various items and never had an issue. If the check is a “real” cashiers check it is as good as cash. It cant bounce after its deposited. Dont be so paranoid. I sold a Champion Boat of mine a few years back to a guy who drove from Scottsdale, Az to Alabama with $28K in Cold Hard Cash! He had the bank withdrawal receipts so I knew it wasnt counterfeit, drug or Mafia Money. Wow, 28k worth a green backs! Now thats an interesting sale Chet.yep actually owed $15K on a loan and had to get it to the bank the next am. Sleepless night with all that $ under my pillow and a 12 Gauge under my arm. Had my dad with me and he counted it in the truck while I talked to the buyer. He was nervous as a cat on a hot tin roof. Thought we were going to be held up at any moment. You should have seen him on the ride home. He swore we were being followed the whole time.To top it all off he was an e-bay buyer.
824, I am also a police officer and we have all seen the scams with cashiers checks. That amount would make my butt pucker in any form other than a bank to bank wire transfer. That said sometimes you got to take the chance and get the bank to call and verify that the money is there and possibly when it was put there and how it got there. You know was it a personal loan or was it a “cashiers check from a Nigerian Prince” that got the money in his account. Hold the title until it completely clears. In KY you cannot claim a item is stolen if a civil transaction falls through. It would be criminal to do so. Also this would be a civil case unless the buyer “knowingly” gave you a check that was no good not just insufficient funds.
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