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Cashiers Check for Boat Purchase Opinion

gqchris

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Hey Guys,

I have been talking to a guy for a week about my boat for sale. He is meeting me at storage Friday in Needles. He texts me today and says he is at the bank and what my last name is. I tell him I dont take Cashiers checks if that's what he is doing, and we have been going back and forth the last three hours.

I then agree Ill take a cashier check if we can go to his bank in Bullhead and confirm and cash check in person. He tells me he uses Bank of West, Bank of Sierra and that he is giving me three checks due to "IRS". All Non local banks.

I tell him no-go. We cant confirm these banks in person in Havasu or Bullhead. He then tells me he would not carry that much cash on the road and wants a record of the transaction. I told him why 3 checks then?

We have spoken about boats for an hour before hand and he doesnt sound like a tweaker, but we all know how that goes. I have read the stories on here and I dont think this one is worth the risk. It might be all on the up and up, but so much risk on my part.

How else can we do this deal? The guys lives in Bakersfield. I love in OC> We meeting at the boat in Needles. What say the inmates? Am I being paranoid? If this was an RDP member, I would be alot more lenient, but he came from my Craigslist Ad.
 

DarkHorseRacing

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Can you go into your bank out here (Havasu or Bullhead) with him and get him to commit to a wire transfer between his bank and yours? Then when the money shows up in your account you should be good to go. Bank won't transfer money he doesn't have, I believe, and if they try to its on him not you.
 

gqchris

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Can you go into your bank out here (Havasu or Bullhead) with him and get him to commit to a wire transfer between his bank and yours? Then when the money shows up in your account you should be good to go. Bank won't transfer money he doesn't have, I believe, and if they try to its on him not you.
Thats what I am thinking also. I have Wells Fargo, so we can drive to the Bullhead location if he wants the boat and do his wire transfers on the spot. Wells Fargo cant confirm the validity of this cashiers checks, can they?
 

gqchris

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I would be worried too. But I get him not wanting to travel with that much cash. He might be worried your going to jack him also.

Why not do wire transfers or use Zelle?
I agree but I have always done all my transactions in cash. 25k doesnt concern me, but I guess some guys its past their comfort zone? The Craigslist part is what concerns me. Again if it was an RDP'er then I would feel alot better.
 

Runs2rch

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If the CC is bad report boat stolen. That is what insurance is for. Sold my boat in July. Took CC to bank done.

Good people exist. If the guy sounds and seems normal, he probably is.
 

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If the buyer wants it bad enough they'll make payment by your terms. However I wouldn't carry that much cash... I would ask if you would do a wire transfer or meet me at my bank and I'll have a check written there, to you, for the item.
 

DLC

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Accord to the wife she says you can call the Branch the check was drawn on and they will confirm....

good luck getting an inside number to the actual branch people. Don’t have the guy give you a phone number to call ....lol

wire transfer works but a Wire transfer agreement needs to be set before hand
 

Runs2rch

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I agree but I have always done all my transactions in cash. 25k doesnt concern me, but I guess some guys its past their comfort zone? The Craigslist part is what concerns me. Again if it was an RDP'er then I would feel alot better.
Not all CL people are bad either.

Just sold wheels and tires to a nice young couple. Guy gave me his word if I could hold them until last Sunday. He showed up when he said he would. Done deal.
 

gqchris

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If the CC is bad report boat stolen. That is what insurance is for. Sold my boat in July. Took CC to bank done.

Good people exist. If the guy sounds and seems normal, he probably is.
Thought of this Also, but @NicPaus has an incident where a stop payment on a cashiers check was placed on a car he sold and insurance told him its a civil matter if Im not mistaken?
 

Runs2rch

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Accord to the wife she says you can call the Branch the check was drawn on and they will confirm....

good luck getting an inside number to the actual branch people. Don’t have the guy give you a phone number to call ....lol

wire transfer works but a Wire transfer agreement needs to be set before hand
The guy can send you a pic of the check beforehand. Call and confirm it. Then in person verify that it is the same check.
 

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I agree but I have always done all my transactions in cash. 25k doesnt concern me, but I guess some guys its past their comfort zone? The Craigslist part is what concerns me. Again if it was an RDP'er then I would feel alot better.
What concerns me is if any of it's fake. Next is if someone unrelated is "following" the cash and sizing up a robbery. I doubt someone will break into a house for a check but will for $25k.
 

gqchris

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Accord to the wife she says you can call the Branch the check was drawn on and they will confirm....

good luck getting an inside number to the actual branch people. Don’t have the guy give you a phone number to call ....lol

wire transfer works but a Wire transfer agreement needs to be set before hand
Tanks Doug, Fill me in on the wire transfer agreement exactly?
 

gqchris

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Not all CL people are bad either.

Just sold wheels and tires to a nice young couple. Guy gave me his word if I could hold them until last Sunday. He showed up when he said he would. Done deal.
Agree , I have never had a problem on Craigs or OfferUp, but have heard all the horror stories! LOL

If my buyer is on here, Phil...........chime in here so we can vouch for you as an inmate! :D
 

Instigator

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CASH-There is only 2 people that knows he has the CASH-Him and You. I flew to buy a truck in Salt Lake City with 30K cash and didn't think twice about it because nobody knew that I had it. The Dealership was reluctant to take the cash and let me leave with the truck as it was after 6PM when their salesman got me back to the dealership. They said they didn't haver anyplace to store the cash and the banks were closed. I told the finance manager either night drop it at the bank or take it home himself for the night or take me back to the airport as I was leaving in 30 minutes either with the truck or flying with the cash. LOL
I drove home. :D
I also drove to Dallas to buy a 353 Formula with 90K cash and didn't think twice about that trip either. Funny thing was, The boat dealer didn't mind the cash rather he actually preferred it and was obviously used to dealing with large amounts of cash.:D
 

gqchris

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If they are "official" bank checks shouldn't be an issue as they have to verify the funds. A cashier's check, no as they can put a stop payment on those.
Good call. I will see if he will send me pics beforehand. The awkward part is that he still needs to see the boat etc and be happy with it. I hate to be the paranoid party poopers but its alot of clams.
 

Universal Elements

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Fock the Cashier check. He can still put a stop payment on it. Cash (and check every bill) or wire transfer beforehand. $25k on Venmo and other services won’t go through.
 

DLC

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Tanks Doug, Fill me in on the wire transfer agreement exactly?
all banks are different you need to call wells and see what they require for a transfer, same with bank of the west
it’s fairly easy to do and it’s like spot on boom.... done!
 

buck35

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When I purchased my boat it was a combination of the two. The guy was apprehensive at first but some of us are honest and he was happy in the end, as was I.
 

Done-it-again

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I paid for mine with a CC. Gave him 5k cash deposit when viewed then the remainder the next day after getting it from the bank. I didn’t want to show up with all the money.

also banks are not carrying lots of cash in the branches. Pretty sure you won’t be able to pull 25-30k from the bank same day.
 

lakemadness

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Won’t travel with that much cash? A month ago a flew to Florida with a sack of cash to buy a car. No issue.

Sell on your terms in this market.
 

DC-88

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Be cautious with the wire transfer depending on how much is in the acct it's going into. I bought a RZR last year at Az west thinking I could pay for it with one but they said they don't do them anymore because a guy sucked the money out of their acct when they gave him the # and routing # . Get cash or meet him at his bank the check is from and watch it go in or wait for checks to clear before releasing boat -my .02
 

lakemadness

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I paid for mine with a CC. Gave him 5k cash deposit when viewed then the remainder the next day after getting it from the bank. I didn’t want to show up with all the money.

also banks are not carrying lots of cash in the branches. Pretty sure you won’t be able to pull 25-30k from the bank same day.

Sure you can. No issue with pulling that much. They might ask standardized questions which is normal. Nothing out of the ordinary.
 

rmarion

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Bank wire transfer....

Ps, I still have on hand a $25k CC check which was mailed to my Son for a $14k Scion he was selling.... I called the bank on Monday for verification.....
which is why I still have this check on hand...
 

Done-it-again

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Sure you can. No issue with pulling that much. They might ask standardized questions which is normal. Nothing out of the ordinary.
Wouldn’t say it if it didn’t happen. Couldn’t pull 35k cash from a BofA branch due to not enough cash on hand. Had to pull from 2.
Perhaps your bank is better.
 

Universal Elements

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I paid for mine with a CC. Gave him 5k cash deposit when viewed then the remainder the next day after getting it from the bank. I didn’t want to show up with all the money.

also banks are not carrying lots of cash in the branches. Pretty sure you won’t be able to pull 25-30k from the bank same day.
it depends on the bank. I’ve pulled out $30,000 out of two ATMs through UBS to purchase a car on Sunday in Las Vegas. But you are correct most banks don’t carry that much anymore and you need to order that amount.
 

Justsomeguy

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I would be worried too. But I get him not wanting to travel with that much cash. He might be worried your going to jack him also.

Why not do wire transfers or use Zelle?
Just a heads up, I used my chase app(zelle) to wire transfer when I bought my boat. It took a few hours. Because the person on the other end was unknown and it was a decent amount being transfered. I had to wait for a call to verify everything.

I felt bad for the person I was buying from. They probably thought It was shady, but I had wired transfered plenty of times that way no problem. I didnt even think twice. Figured wire transfer would be the second best to carrying a bunch of cash on me. But the amount, the location, etc triggered safe guards. Just my experience in this process.
 
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gqchris

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Just spoke with him, its only two different banks. He sent me pics of the checks to confirm if I wanted to verify before.

He said keep the boat until they clear in my storage also. Which was a little more comforting. So how long can these cashier checks be stopped on?

Months down the road?

We discussed LOTO, Park Moabi, Havasu, Desert Storm. Seems like alot of back story to spin up a scam but I have heard worse!
 

EBT531

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I say cash or wire transfer with a big preference for cash. I bought a boat once that the guy didn't even want cash unless the bank verified the bills. I called the local branch a few days ahead of time to ensure they had enough cash on hand (believe it or not that's a thing), met him there and made the withdrawl in front of him before handing it over. If he wants the boat, he will arrange your method of payment.
 

Universal Elements

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Just spoke with him, its only two different banks. He sent me pics of the checks to confirm if I wanted to verify before.

He said keep the boat until they clear in my storage also. Which was a little more comforting. So how long can these cashier checks be stopped on?

Months down the road?

We discussed LOTO, Park Moabi, Havasu, Desert Storm. Seems like alot of back story to spin up a scam but I have heard worse!
Damn... I wonder how Tim is operating from his jail cell? 😂
Just kidding, but be very careful we almost lost a Porsche and people were very very intricate and complex.
 

Universal Elements

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I say cash or wire transfer with a big preference for cash. I bought a boat once that the guy didn't even want cash unless the bank verified the bills. I called the local branch a few days ahead of time to ensure they had enough cash on hand (believe it or not that's a thing), met him there and made the withdrawl in front of him before handing it over. If he wants the boat, he will arrange your method of payment.
Be careful with that too. The only two $20 fake bills I got were from a bank teller at merchant bank. Once you walk out that door they’re yours.
 

EBT531

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Be careful with that too. The only two $20 fake bills I got were from a bank teller at merchant bank. Once you walk out that door they’re yours.
True. We did the transaction inside the bank so if they were fake, they were his at that point.
 

bonesfab

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Sold a car. Dude shows up with a cashiers check after I told him cash. We went to his bank and I had them take that check and issue me a check right in front of me. If his own bank wouldn't take the check, I sure as hell wasn't going to. Cash is still king though.
 

throttle

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Pretty sure Wells Fargo gonna put a hold on checks/funds. He might have to wait “two weeks” to get the boat or pay cash.


Sent from my iPhone using Tapatalk
 

JJK94

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There is a chase bank just up from spirit mountain. Tell him to open an account .. You open one if you don't have. He can transfer from his account to yours. Not your problem if he is hiding the money.
 

bowtiejunkie

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Wire transfer. Companies wire millions per a transaction all day everyday. Plaster theOr bank routing and account number all over their A/R invoices. Yet, people freak out over wiring a few thousand bucks. Setup a specific account to receive the wire if needed. People make things to complicated. Cash, wire or no deal.
 

CJ_Donahue

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I am happy to go to your bank and have them cash it in $100 bills and you can take the boat today. I am also happy to take cashier checks but nothing leaves my possession until the cashier checks 100% clear which might be as much as two weeks.
 

MissHavasuCig

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I would temporarily move money out of a savings account. Have the funds wired there. When funds are confirmed ... promptly move to another account to make sure no funny business happens. When you’ve got your money, good to go... 👍 Eventually you can move back into that savings account when you feel the deal is solid...

Although, cash always works too 🤣
 

PRORACER7474

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bring the boat home with you and after the checks clear meet 1/2 way between OC and Bakersfield, it should not take more than 1 or 2 days for a CC to clear, I just sold a motorhome and the guy brought me a 105k CC and i deposited it Thurs and the money was good friday
 

DLC

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Just spoke with him, its only two different banks. He sent me pics of the checks to confirm if I wanted to verify before.

He said keep the boat until they clear in my storage also. Which was a little more comforting. So how long can these cashier checks be stopped on?

Months down the road?

We discussed LOTO, Park Moabi, Havasu, Desert Storm. Seems like alot of back story to spin up a scam but I have heard worse!

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PRORACER7474

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I would temporarily move money out of a savings account. Have the funds wired there. When funds are confirmed ... promptly move to another account to make sure no funny business happens. When you’ve got your money, good to go... 👍 Eventually you can move back into that savings account when you feel the deal is solid...

Although, cash always works too 🤣
there is no way to take money out of a account by giving someone your routing number, I deal with wire transfers all the time it is realy safe
 

DLC

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Number 3 is the most important.

as long as the check is not fraudulent And it’s issued to the person cashing it there is no stop payment it can be cashed, after say 90 or 180 days a stop can be placed if not cashed the time is determined by your bank. You take the cash out if your account and it goes into a cashiers check account by your bank. It’s guaranteed cash.

if you change your mind and have not given the check out that is a different situation
 
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