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

Discussion in 'General Community' started by Alex_ATL, Apr 6, 2008.

  1. Alex_ATL

    Alex_ATL Member

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    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
     
    #1 Alex_ATL, Apr 6, 2008
  2. Jake

    Jake Active Member

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    get it cashed first before you give him the title.
     
    #2 Jake, Apr 6, 2008
  3. Matt

    Matt Think before you post
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    or meet them at the bank and let the bank check the cashiers check out.
     
    #3 Matt, Apr 6, 2008
  4. Jake

    Jake Active Member

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    ^^ 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
     
    #4 Jake, Apr 6, 2008
  5. ScoobyMike

    ScoobyMike OG Mod

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    or just meet at the bank and have him sign it over to you, and then cash it all at the bank!!
     
    #5 ScoobyMike, Apr 6, 2008
  6. WJM

    WJM Banned

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    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.
     
    #6 WJM, Apr 6, 2008
  7. mmtasty

    mmtasty Active Member

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    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.
     
    #7 mmtasty, Apr 6, 2008
  8. Alex_ATL

    Alex_ATL Member

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

     
    #8 Alex_ATL, Apr 6, 2008
  9. Alex

    Alex Community Founder
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    Why does he want to pay with a cashiers check anyway?
     
    #9 Alex, Apr 6, 2008
  10. Alex_ATL

    Alex_ATL Member

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    that's just what he suggested
     
    #10 Alex_ATL, Apr 6, 2008
  11. Alex

    Alex Community Founder
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    Bah, tell him to bring cash in a suitcase.
     
    #11 Alex, Apr 6, 2008
  12. blindfold

    blindfold Active Member

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    most people do pay with a cashier's check for large amounts...
     
    #12 blindfold, Apr 6, 2008
  13. Alex

    Alex Community Founder
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    I understand.
     
    #13 Alex, Apr 7, 2008
  14. Sparta

    Sparta Active Member

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    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
     
    #14 Sparta, Apr 7, 2008
  15. mmtasty

    mmtasty Active Member

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    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.
     
    #15 mmtasty, Apr 7, 2008
  16. knhtrdr

    knhtrdr Active Member

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    Yep!!!
     
    #16 knhtrdr, Apr 8, 2008
  17. Alex_ATL

    Alex_ATL Member

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    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
     
    #17 Alex_ATL, Apr 8, 2008
  18. V_WRX

    V_WRX Member

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    mmtasty is right, i have heard of a lot of instances of counterfeit cashier's checks. Be safe and only accept cash.
     
    #18 V_WRX, Apr 8, 2008
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