what is the safest way to accept a cashiers check as payment?

The maxima is pending sale tomorrow morning.. I met the guy and his friend and they did a thorough check of the car and seem to be good people. Guy wants to pay with a cashiers check. What is the safest way to go about this? Do i demand he pay with cash, or is there a safe way to receive a cashiers check. I'm not sure if banks still will cash them right away or what. Anyway know best way to go about this process?

-Alex
404 457 8053

 

get it cashed first before you give him the title.

 

^^ i've heard of people doing that as well. and my buddy even did it with a large amount of cash he got for one sale. (21k in $20 bills)

either one would be a safe bet

 

or just meet at the bank and have him sign it over to you, and then cash it all at the bank!!

 

yeah, be at the bank to cash in on it. Thus you can get the title notarized at the same time...oh wait, GA doesnt need title notarization.

 

WAIT!!!

Cashier's Checks aren't what they used to be. Don't "cash" it at your bank. Don't deposit it either. Take it to the bank that issued at and get it cashed!

I'm not saying that this is what's happening... but a counterfeit cashier's check is no different than a regular counterfeit check. There is a false sense of security when dealing with these and a lot of people are getting screwed. You may find that your bank will assume it's legit and may even cash it on the spot, but when they run it through the system it'll bounce and they'll call you asking for their money back! It's no different than a regular found in the trash personal check.

Before you give them the car or title, take the cashier's check to THEIR bank and get cash. Good luck and congrats on selling a Maxima! That's no easy feat my friend... they're good cars but the market is saturated with them.

 

i hear ya, but it's definitely not saturated with black on black fully loaded 6spds

 

that's just what he suggested

 

most people do pay with a cashier's check for large amounts...

 

Maybe he's paying with one so he has a credible receipt? If so and you are uncomfortable with that, tell him to get a money order

 

that was good two years ago... now there are counterfeit cashier's checks out there... it's the new scam.

cash is still the only safe bet.

 

Yep!!!

 

hopefully be happening today... otherwise he's full of shit like all the other buyers who don't come up with the money after 'closing' the deal

and the wrx I am buying, guy called me last night said he's dropping the price. So we shall see

 

mmtasty is right, i have heard of a lot of instances of counterfeit cashier's checks. Be safe and only accept cash.