I am going to be selling my Silverado and a camping trailer pretty soon and want to make sure I have all of my ducks in a row as far as money transfers. Not sure if it matters but these will both be < $10k sales. Everything I have sold recently has been to friends and I realize the scamming game is yuuuuge these days. So the way I see it, I have three options:
- Cash
- Risk: Counterfeit bills
- Mitigation: Meet at bank and have money deposited into my account
- Cashier's Check
- Risk: Counterfeit check
- Mitigation: Call issuing bank to ensure that check is authentic
- Is this enough? Do I need to deposit and wait until funds clear? From what I have seen, it is pretty difficult to get a real cashier's check cancelled.
- Wire transfer
- Risk: Transfer not really initiated or insufficient funds
- Mitigation: Wait until funds hit my account to complete the sale