Bank/Certified Check ????????

If you sell a truck for say 10k and receive the funds via a bank check could the purchaser then stop payment on that check after taking possession of the truck?

I would much rather have the buyer bring cash but I could also understand why he would be hesitant to do so.

Just don't wanna get screwed!!! What say you????

 

whenever i sell a car or bike i only take cash

 

If u find out which bank its going to be drawn on id call them and check their policy

 

Call your bank just to be on the safe side.

Personally I would request cash but meet at your bank, then promptly deposit it.

 

Meet buyer at the bank the check is written for and have them cash it if you are worried. Did that with the wife's Celica we sold for $9k

 

Cash only

 

ps certified funds can be reversed. had it happened at a dealership i've worked at. cashier checks i believe are more secure

 

I think a certified check is just a regular check, but the bank does something that verifies the funds are there... I think. Since it's a regular check (I think), the issuer can technically stop payment on it I would think, so yeah, you could get "screwed".

I would say as others have, ask for cash. But, since it's a large amount of cash and most people don't like carrying that kind of $$ around, I would ask for a "cashiers check". That's the kind of check that the person gets from the bank, and it's the bank that issues it by taking the money out of their account directly, and putting it in a "check" format sort of speak. That they couldn't stop payment on since it's basically as good as cash. Hope that made sense.

 

This is the way I've always done it unless I know & trust the person.

 

I sold a motorcycle to an old farmer and he paid with a personal check. He did let me snap a picture of his drivers license. I would not do this for everyone. If it had been a man-child I would have said come back with cash.

 

Thanks all for the advice. I will demand cash or a meeting at a bank, it's the shame there is just no trust in society anymore.

 

hey now I has 10k for you if you wanna sell me your taco!!!

 

Simmer down my friend

I'll tell you the story tomorrow

 

I wait till check clears my bank and fnds appear in my account...THEN I ship/deliver whatever I am selling

or else it is cash or paypal


sold an Aprilia Falco this way, check...buyer was OK waiting....once I got the monies
in the bank I loaded her up on a box truck and sent it off