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Old 09-13-2013, 04:28 PM   #15
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Agree on bogus ones, but if both buyer and seller are at the buyers bank and a bank officer handles the transaction, how could the bank's cashiers check be stopped?

On what grounds?
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Old 09-13-2013, 04:29 PM   #16
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Cashiers checked can be stopped. Opening an account at their bank is a good idea. Beware that people are going to DMV and getting a copy of their clean title, then going and getting title loans. They get the copy notorized and then sell it to you. You find out at DMV when you go get it put in your name.
Also, used Rv places are selling you the Rv and not paying the float loan at the bank for that Rv. The bank will get the Rv back and you will have to go after the bankrupt dealer. Even if you put it in your name the bank has the right. Sounds wrong but its the law.
Both go to DMV and ask questions
Both go to bank and ask questions
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Old 09-13-2013, 04:35 PM   #17
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Search me. All I know is my bank told me they can be stopped. That was enough to give me more gray hair . I suppose in that instance ( at the buyers bank ) I'd feel better.
I just closed on a house last week and went through this bank check fiasco. The sellers bank faxed a copy of my cashiers check to my bank who verified it as authentic and then we did a closing. OY.
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Old 09-13-2013, 06:52 PM   #18
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I sold my Motorhomes to a couple from New Zealand that were here to buy an RV. They simply had the money wired to our account and it was a done deal.
However, it took a while to get it wired into our account so we invited them to stay with us until the transaction was complete. We now have two new wonderful friends and a great experience. After touring around the USA for two months, they shipped it back to NZ !!
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Old 09-13-2013, 07:16 PM   #19
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I would only accept a direct wire transfer between their bank and your bank. anything else could be a scam. When your banker tells you the money is in your account, THEN you sign the title and bill of sale and give it to the buyer.
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Old 09-13-2013, 07:20 PM   #20
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I would only accept a direct wire transfer between their bank and your bank. anything else could be a scam. When your banker tells you the money is in your account, THEN you sign the title and bill of sale and give it to the buyer.
If you were the buyer would you wire the money before you got the title ? Trying to put myself in the buyers seat to understand their fears.
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Old 09-13-2013, 07:21 PM   #21
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Yes, if we were sitting in the bank.

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Originally Posted by Clifftall View Post
If you were the buyer would you wire the money before you got the title ? Trying to put myself in the buyers seat to understand their fears.
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Old 09-13-2013, 07:23 PM   #22
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If you were the buyer would you wire the money before you got the title ? Trying to put myself in the buyers seat to understand their fears.
If I were buying an RV I would never commit to a purchase without actually seeing & inspecting the unit. If they do that then they could have the transfer done while at the seller's location.
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Old 09-14-2013, 05:35 AM   #23
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Originally Posted by Clifftall View Post
Search me. All I know is my bank told me they can be stopped. That was enough to give me more gray hair . I suppose in that instance ( at the buyers bank ) I'd feel better.
I just closed on a house last week and went through this bank check fiasco. The sellers bank faxed a copy of my cashiers check to my bank who verified it as authentic and then we did a closing. OY.
Cliff tail is correct. They can be stopped but it is no easy process. We had to do that on a very strange set of circumstances that allowed a charge to our CC AND the check. Check was lost and found later after the charge to the card. They could have reversed the CC charge but chose not to as they already had the money so I had to cancel the check. Took a few weeks if memory serves me correct. You have to have a very good reason to cancel a cashiers check and the bank does a thorough check before returning the funds so it will not be an overnight scam.

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Old 09-14-2013, 06:15 AM   #24
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If I were buying an RV I would never commit to a purchase without actually seeing & inspecting the unit. If they do that then they could have the transfer done while at the seller's location.
I have sold about 8 units and every one went this way.Like they say at the boat yard (no cash no splash).
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Old 09-14-2013, 06:18 AM   #25
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Searching the 'net, I found that Cashiers checks can be be stopped if it is reported lost, stolen, destroyed or the person obtaining the check did so by fraud.

The check cannot be stopped just because the buyer changes his mind.

I still feel the safest transaction is to do it at the bank.
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Old 09-14-2013, 06:29 AM   #26
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Originally Posted by greezykid View Post
I have sold about 8 units and every one went this way.Like they say at the boat yard (no cash no splash).
I remember that term well. I was in that business.
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Old 09-14-2013, 06:31 AM   #27
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Searching the 'net, I found that Cashiers checks can be be stopped if it is reported lost, stolen, destroyed or the person obtaining the check did so by fraud.

The check cannot be stopped just because the buyer changes his mind.

I still feel the safest transaction is to do it at the bank.
It is safe if you can verify that its a good check at the time of the transaction. At the bank is the way to go.
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Old 09-14-2013, 06:42 AM   #28
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As has been said, the easiest and cleanest way is for the parties to go the bank. In one case, I, as a seller, and the buyer with his cashier's went to my bank. My bank called the bank where the cashier's check was issued and verified the legitimacy of the check and the availability of the funds. It was deposited in my account and I signed over the title and gave the buyer the keys.
When I bought a class A MH on eBay, I met with the seller at the seller's bank. I called my bank and authorized them to wire the funds to the seller's bank account while we both were present at the bank. About an hour later the funds arrived at the seller's bank account and I received the signed title from the bank officer.
In the third case, I, as a seller, went with the buyer to his bank. He wired the funds to my bank account and I gave him keys and the signed title.
I have also sold a car, around $43K using the buyer's cashier's check, but I knew the person so no verifications were made. All these transactions went well without any issues. Good luck and play it safe!
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