Most sure way of NOT getting ripped off

[Soon2BV]

Very Important Piece of Additional Info...for your consideration

So in reality - this guy now has a $10,000 negative balance.

Not sure of your bank, but Chase lists two balances - available balance and balance.

The balance includes any deposits that might be on hold, but the available is what is actually usable.

They have never subtracted a held check from my available balance.

[WakeGirl]

The point to that story though (& what I was trying to say earlier) is that one bank has no way of really knowing on the spot that a cashier's check from a different bank is going to clear, regardless of calls to check the account balance. That's why going to the bank itself with the buyer & watching them draft the check is super important.

[luvtheBU]

Geez life is so complicated, too bad we can't go back to the days when your word and a handshake meant something. I'm not even that old but I remember the saying. Now if people say that you figure they must be lieing.

[MalibuNation]

There was a show on MSNBC where they actually played the game with a scammer from Nigeria and led him all the way through meeting up in London to complete the transfer. They actually did this with a few different email scammers. It went on for months before they actually met in person. It was pretty funny to see them squirm when they put them on national TV and asked them how they thought this was all going to end. Some of them ran away, some of them denied it. Definitely worth a watch if you can find it somewhere.

Saw it ... if it's too good to be true ... you know the rest.

[tigercity]

Just bought our boat and brought it home with a cashiers check. He called to verify the check and kept the title till it cleared. It took a little trust on everyones part but it worked out in the end. It was a late friday night so going to the bank really wasn't an option. Kind of hard to go to banks when you are traveling to make the purchase.

[MalibuTime]

Most banks anymore won't post one until the funds have actually cleared, which takes time.

I don't understand this statement. When you get a cashiers check at the bank, the money is debited from your account immediately. That's what makes them as good as cash. Since forgery can be done easily, its best to go to the buyers bank and the bank issue you one directly.

This is what is rather rude. You would think that with a cashiers check, but until it clears your bank you own its authenticity. A cashiers check is like any other check. Similar to WG, you could have the cashiers check drawn from your bank, then they should be able to clear it then and there. But I would confirm that prior to the transaction.

*** ALSO ***

Don't forget you will need a bill of sale for the boat and a seperate one for the trailer that list the buyer, seller, amount, item and date. That is really for the buyers benefit to get it registered, but it wouldn't hurt to make two copies, one for each.

BTW, congratulations on the sale. Someone is getting themselves a real nice boat.

Edited September 10, 2009 by MalibuTime

[gilby00]

that msnbc was funnier than hell. the one guy in london was sweatin bullets, and almost made off with 600 bucks, the reporter was like um I need that money back, ohhh ya sorry

[Faceplant409]

So when I sold my '99 in '04 I met these 2 guys that came up from LA at the Delta for a test ride/transaction on a Sunday morning. None of my pals could go with me at the time... So its me and them on the water, it's glassy and I'm itchen to ride. I pull both of them and they love it - especially with PP and the wedge. They ask me if I want to ride? I say yes and take out my wallet, keys, phone & watch and put them in the glove box. As I'm lacing up my bindings I'm thinking "how effing dumb am I??" And I hop in the water.... Though they never would have found their way back to the ramp without me! It all worked out OK and I went home with 3 cashier's checks totaling my price. There was a 5K and a 2.5K that they were going to haggle with but I had already told them if they were not prepared to pay my price, don't bother driving 14 hours for nothing....

Good luck Andy!!!

(jerk..)

PS I hope the boot prints on the carpet don't decrease the value....

[chathamsolutions]

...

BTW, congratulations on the sale. Someone is getting themselves a real nice boat.

Haven't sold anything yet. Just some interested parties.

Thanks for the advice. I'm working on it all and putting the pieces together. Man, this is complicated.