Yep, CWP all the way! Even when I meet someone on a $100 FB item. I hate to say it, but it's a crazy world we live in now. Another reason I was trying to work the deal through the bank if at all possible.
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Cashier's Check
- Thread starter customcutter
- Start date
I don't blame you a bit for your caution. My point was probably not clear. If the buyer's bank, which is also issuing the cashier's check, has a branch convenient to you, they can verify sufficient collected funds to purchase the cashier's check. At that point, the transfer from the buyer's account to the bank is immediate, and the check they give you can be immediately cashed, no clearing time involved.
But if you are depositing any kind of check, just require collection time before releasing the item. I've always been willing to buy and sell on that basis.
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When I was in business I would accept a cheque if you were at least 80 yrs. of age and accompanied by both parents. No one took me up. Crow
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Such a situation could be scary for a potential buyer too, coming up to a complete stranger with thirty grand in cash on them. Both parties ought to be accompanied by someone, not get into a potentially bad situation alone.
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i would do the bank transfer and when the money is in your account then he can pic up the tractor
How long would you take to count 30 thousand in cash ? x2? x3? Seems to me he is unwilling to go a bit out of his way to make the deal happen .
if it is a cash deal then he could come on the weekend , sat or sun not 6 pm dark outside
How long would you take to count 30 thousand in cash ? x2? x3? Seems to me he is unwilling to go a bit out of his way to make the deal happen .
if it is a cash deal then he could come on the weekend , sat or sun not 6 pm dark outside
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If you go that route, make sure that you tell the bank that you want the funds going in as CASH from his account to yours. Don't even bother having him write a check that he could try to stop or contest later.
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For $30K I would only accept cash in my hand or deposited in my account, running it through the money counter at the bank to detect counterfeits before I hand over the title (he might unknowingly or intentionally have some in there), or a wire transfer. An ACH (Bank to Bank transfer) can be reversed as can cashier's checks. Buying 30K of money orders at the post office is not something I would want to do. He will need to buy 30 of them! Offer to pay the wire transfer fee. It will be between $15 and $50 depending on how greedy your bank is. If the wire is ordered in the morning, it will post that day. Tell him your bank will hold the title until the wire comes through, if the bank is willing to do that.
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Tractor is sold. A LOCAL buyer contacted me this AM. (Someone not wanting to hand me a check, and transport the tractor.) He looked at the tractor drove it. He owns a sawmill company about 20 miles away. I followed him to his business wrote me a check, and said call me when the check clears and I will come pick up the tractor. He didn't care if it took 2 weeks to clear.
My bank said they would put a 9 day hold on the funds, until the check clears. If he wanted the tractor sooner, he could bring a copy of the cleared check from his bank, and they would release the funds.
Glad this over, too much stress.....
My bank said they would put a 9 day hold on the funds, until the check clears. If he wanted the tractor sooner, he could bring a copy of the cleared check from his bank, and they would release the funds.
Glad this over, too much stress.....
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