bank check?

#1
anyone run into any issues selling something to someone, and getting paid with a bank check? it sounds like the guy has the same bank as us, so ideally, we both go to the bank, and transfer funds. once they clear, i give him the title, right? maybe if i'm being overly cautious. i hate selling big $ items on ksl, and even more weary anytime they dont pay in cash
 

gijohn40

too poor to wheel... :(
Location
Layton, Utah
#6
I just sold a jeep to a guy in Idaho where he gave me 3k cash and a check for the last 1k... I told him when the check clears he will get the title. His check bounced and I was left making calls and threats about reporting the jeep stolen. but he was smart enough to get a bill of sale which is all that is needed to get a new title after a sale. not sure how this would hold up in court but I always look at the old saying possession is 9/10 of the law. if they can't some up with the full amount agreed on they don't take the product in the future.
 

frieed

Jeepless in Draper
Premium Member
Location
Draper, UT
#7
brother received a cashiers check for a diamond ring. Check was bogus.
brother sold a gun for cash. Cash was fake.
I sold a boat for 20k to a guy from california. we went to a local branch of his bank and I watched them make out the cashiers check.
go to the bank with him.
 

Noahfecks

El Destructo!
Premium Member
#8
I just sold a jeep to a guy in Idaho where he gave me 3k cash and a check for the last 1k... I told him when the check clears he will get the title. His check bounced and I was left making calls and threats about reporting the jeep stolen. but he was smart enough to get a bill of sale which is all that is needed to get a new title after a sale. not sure how this would hold up in court but I always look at the old saying possession is 9/10 of the law. if they can't some up with the full amount agreed on they don't take the product in the future.
Hey john! FYI a bad check over $999.99 constitutes a felony. Probably too late and I agree with your 9/10 rule but it would be your word against that of a felon.
 

Noahfecks

El Destructo!
Premium Member
#15
i've asked multiple times. something about it being needed for a business? idk why that makes a difference. english is not his first language
it's fraud

It doesn't have to do with LOC, customer could draw on the line an make a CC, it's because it is fraud, specifically account take over fraud. The check will clear the bank in an attempt to get you your money in a speedy fashion, then about 5 days later they will yank it back out. The check will have a legitimate account and routing number that someone stole.

Sorry to be the bearer of bad news, I do this for a living
 
#17
it's fraud

It doesn't have to do with LOC, customer could draw on the line an make a CC, it's because it is fraud, specifically account take over fraud. The check will clear the bank in an attempt to get you your money in a speedy fashion, then about 5 days later they will yank it back out. The check will have a legitimate account and routing number that someone stole.

Sorry to be the bearer of bad news, I do this for a living
and this is what i was looking for. thanks for the heads up
 

cuban b

You're all WEAK SAUCE!
#18
The last couple cars I've sold, I met the buyer at the bank (mine or his) and it took all the worry out of the transaction. They even have bills of sale and other useful forms at most banks. That's my go to for larger items these days.
 
Top