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Defcon888
Premium
join:2003-07-22
San Bruno, CA
 ·DSL EXTREME
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| reply to MGD
Re: Transfcu
said by MGD  :Is the check certified, or a cashiers ? In either event I would be calling the issuing institution to confirm its validity before parting with the vehicle, especially if you are depositing it. It is difficult to offer any additional advice without knowing more details. e.g. if the buyer is local to you, and you have met them in person. Are you signing over the title and the vehicle leaves as soon as the check is handed to you, etc .. etc. This could very well be all legit. But the more you can verify, and the less you have to trust, the better. Bottom line is that you have to know that the check is good, before you hand over the property MGD I have told the buyer that unless it is a verifyable cashiers check, I will have to just deposit the check . Whether it be certified or cashiers, I will not transfer the title I can verify that the funds have fully transffered over to prevent any stop checks. We will also sign a document stating that once the funds are transffered over, I will transfer over the title; and if there is any rejected checks - she will pay all charges incurred to me and I have the right to terminate any further transactions with her.
Basically the problem is the check is coming to her from Virginia (she just moved over here) later in the afternoon and banks close at 2 today. My local bank closes at 4 so I can still deposit it - verifyable or not (since she gave me $200 deposit that can be paid for the bounced check if anything, at all, goes wrong). She's going to the hospital Monday for her second child. Everything checks out so far. We're not in much of a hurry.
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defcon888 @ gmail | |
garys_2k
join:2004-05-07
Farmington, MI
 ·Vonage
| said by Defcon888 :I have told the buyer that unless it is a verifyable cashiers check, I will have to just deposit the check. Whether it be certified or cashiers, I will not transfer the title I can verify that the funds have fully transffered over to prevent any stop checks. Hmm, I think you'd be much better off to call the CU yourself before depositing it. If the check IS bad it could cause real trouble for you with your bank when the deposit bounces. Not only that, they (your bank) may clear the funds and then, later, find out it's fraudulent and take the funds back. In that case you're really stuck. | |
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