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Cashiers Check for Boat Purchase Opinion

Brooks D'Antonio

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Cash is piece of mind IMO... When I bought my Schiada from Paul I called the bank earlier in the week to make sure they had money enough on hand (someone earlier stated that might be an issue). I was nervous transporting the sum of cash I had but the seller preferred cash, and I wanted the boat. Just my .02.... hope the deal goes well! Loved your boat


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Sherpa

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Cash or nothing. I’ve carried quite a bit. And like mentioned before, basically 2 people know about it. You and him. Safe meeting spot, daylight, everything’s good..

Sherpa
 

Rondog4405

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Just sold mine last week.. told the buyer I wanted cash... he drove all the way from modesto to parker with a big envelope full of 100's. Boom..done deal!. not that big of a deal.. demand cash and that's it. If he wants it bad enough he will make it happen
 
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ChiliPepperGarage

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I've done multiple transactions via wire transfer. I go to my bank and tell them what I'm doing (selling a car) and open a new account.

Give the info to the buyer and they do a wire transfer from their bank to my new account. It only takes minutes.

Once the wire transfer is done I have my bank move the money from my new account to an existing account and then close the new account.
 

rrrr

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Checks from 3 different banks seems kinda red flagish to me.
No kidding. That's a deal killer for sure.

If the seller is concerned about the buyer having his routing and account numbers, all he has to do is open a new account at his bank for the transaction and then close it afterwards.
 

FROGMAN524

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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.
My CC was good too remember? Cash would have been more fun though.
 

Jay Dub

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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.
I also would be concerned. If he wants the boat he will have to figure this out. He could deposit all of "his" checks into one account then wire transfer in-person at your branch. Otherwise pay cash.
 

Bigbore500r

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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?
The issue with wire transfers between banks is that there is usually a cutoff time, my bank in particular says 11am but it's really noon. Check yours, and his if your going this route so you dont end up dead in the water at 2pm trying to make a deal
 

dspracing

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Meet at storage, if he is happy, take a nonrefundable cash deposit..... enough to cover your time and expenses should the deal fall apart.

Both parties travel back to so cal, you with the boat in tow, stop by the two banks for the remainder of the cash.

Once the funds are exchanged, swap the boat and he continues on to Bakersfield.

A little more time on your end but you get the free and clear cash deal and he doesn't have to carry the cash he is so worried about.
 

Runs2rch

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My CC was good too remember? Cash would have been more fun though.
Hahaha right? Maybe all in 5's, 10's, and 20's. You sent me the pic right away. I just verified it and that was it. Didn't even deposit it for a few days.

Being long time members here helps as well as we talked multiple times. Easy to get a sense of someone.
 

COCA COLA COWBOY

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I demanded cash on my last boat sale. Buyer showed up with cash.

Having spent the last few days dealing with taxes, do you really want your play money to go into an account?
 

Singleton

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Purchased my ToyHauler with 3 Cashier Checks. All from the same bank, but each one written under 10k to reduce any risk of holds being placed on them. Had to do that, since I forgot to call the bank and order cash, since I was traveling. You just can’t walk into a bank and ask for 26k in cash these days, it must be ordered in advance.
Gave buyer the option to hold onto trailer under checks cleared. He let me tow it home that day.
 

PlanB

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Wire transfer or cash. We have done both on six figure sales.
 

J&k x-flight

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Ask for cash that simple.
You call bank in the morning and usally have cash buy lunch time..
Just did this for a large purchase..
The bank will try and tell you other wise.
Plus the bank will have you fill out tax forms to pull or deposit anything over 9999.00.
Yes your money and they want to know Info..
 
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Duramax

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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.
I drove 19hrs with 35k hidden in my truck. No way on cashier check.
 

boatnam2

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I took a 100k cashiers check from a guy who drove from New Mexico, I called his credit union before walking into chase in havasu and CU said check was good so I deposited it and he drove away with boat.
 

Motor Boater

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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.
Thats not how it works. If you give the boat, trailer and signed notarized titles to someone you can’t report it stolen. Insurance isn’t going to cover if you willingly give up the boat. That’s why all the guys got screwed by that Tim McDonald guy. If all those people could have got their money back from insurance it wouldn’t have been a big deal.
 

PaPaG

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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.
F NO F NO F NO.....so many and I mean so many fake cashiers checks out there...no way in hell I would do the deal without being able to go to the bank personally especially with the 3 check deal....if he wants you to trust him then have him trust you...have him send you the $$ in a wire then take the boat...lets see how that fly's with him....
 

PaPaG

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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!
If he is allowing you to keep the boat til they clear have him wire transfer prior to the picking up the boat and problem solved....
 

SBMech

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Cash or wire transfer. Too many other scams/fake cashiers check scams to trust anything else if they are not a longtime member or someone I know....

Probably cash only if I know them rofl! 😝
 

Marine Industries West

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If you plan on cashing a cashiers check, think twice about accepting one for that kind of money. Banks are a pain in the ass with cash right now. I accepted a 15K cashiers check issued by schools first credit union and schools first would not cash their own cashiers check. Wanted to break it up into $2500.00 releases and re-issue another cashiers check to come back the next day and do the same thing until it was fully paid out. Six trips to wait in line, no way. My bank would not cash it.

Had to call the buyer back, asked him to go with me to Schools first, he agreed, I signed the check back over to him, he deposited back into his account, then withdrew the cash. And surprisingly the bank had the cash for that. Total bullsh-t deal. Very frustrating.
 

Enen

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www.escrow.com

If he needs to transfer from several accounts, you can set up an escrow here. He can move his $. Wait until the escrow company tells you funds are clear, and then release the boat/title, when he signs the escrow instructions releasing the funds to you. Buy pays any additional escrow fees.


 

gqchris

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Thanks Guys. More news. I called Bank of the Sierras where two of the checks are from. They told me rudely to pound sand and they dont confirm cashiers checks over the phone. So I just told the guy a wire or cash. Im over it. Maybe its a sign for me to keep my boat. Just got to Havasu. Im cracking open a boat soda.
 

renodaytona

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I drove from Reno to So Cal. with $30K cash to buy my Daytona. Of course there are nerves driving around with that kind of dough. I got to the sellers house offered him less and got a smoking deal on the boat. He signed the titles over, we went to his bank as he didn't want to count the cash himself.
 

MeCasa16

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If he says you can hold the boat until the checks clear, I'd be fine with it.
 

J DUNN

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Well, I didn't read ALL posts above but this might be a new idea no shared yet.

Car guys often use escrow companies to hold funds until vehicle changes possession, sometimes many states and weeks apart. I used one for a truck I sold to a guy in NY. He didn't want to come out and bought off my ad. $23k. Escrow does charge a fee. You can find a reputable escrow company through Hemmings website.

Easier way is just 3 bank transfers.

Good Luck!
 

badgas

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You have options as it is your boat.

You can hold the title until everything has cleared, Just make sure you have a good detailed contract that says so.
If you do take cash I would have the bank count it and make sure it is legit.

Many years ago I met a guy at a bank once for an RV sale he showed up with 40K in a backpack with a loaded 9MM. I had to remind him that the gun didn't go into the bank ( true story) and he was pretty shady . I had only planned on depositing 9999 but having him know I was leaving with 30K I elected to deposit all of it just filled out the IRS paperwork. No big deal I didn't get taxed on it they just wanted the source of the inflow.

When I sold my RV a few weeks ago I met a guy at my bank and they verified that the CC was good so we did the deal. I had no idea you could hold up a CC I thought that was the whole point to "Cash " the cashiers check.

NowI always like to have someone with me when doing big cash deals. I have my CCW as do a few friends so having extra security when dealing with people you really don't know is nice. I would never under estimate the lengths that someone would go to get 30K tax free in their hands.

Just be wise, good luck.
 
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jetur3

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Cash or no deal. Scetchy as hell that he has three CCs. Wire transfer sucks. Sold a boat to a guy that drove in from out of state. We went to a local Wells Fargo and I watched him do the wire transfer. Transfer never hit and I finally let him go with 40k boat about 5pm that day. I let him take it with no receipt and under the agreement that if it didn't hit I would report it stolen. Money hit on day two.
 

ChumpChange

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Thanks Guys. More news. I called Bank of the Sierras where two of the checks are from. They told me rudely to pound sand and they dont confirm cashiers checks over the phone. So I just told the guy a wire or cash. Im over it. Maybe its a sign for me to keep my boat. Just got to Havasu. Im cracking open a boat soda.
If you'd like me to call on your behalf tomorrow, let me know. Looks like I know a couple people there from banking school.
 

Cole Canadian

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When we buy toys in the States we generally ask the person that we are buying from to ask their bank to set up a separate account.
We then wire down a preset non-refundable deposit to show we are serious about buying.
When we show up to finish the purchase and if all is good, we then wire the rest of the funds.
Works well for both parties, seller dos not give out his account info and I don't look like a drug dealer crossing the border.
Way better than any other form of payment. Just be sure and notify the banks as to what is going on.
 

gqchris

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Well, that was a giant waste of time. I think I know the plan all along now. Finally convinced the guy to cash only yesterday. He insists on a quick water test. OK, no problem. I tell him Ill drag the boat from Needles since he is at Park Mojave and meet him there.

I wake up at 5am, drag the boat there. Pay the launch fee. He tells me to bring it by his buddies house to check out. There is like 6 guys there ready to tear the boat apart from the ground up. They start at it. get under, and see some beach marks from beaching from 33 years of its life. I tell them the boats not perfect, and Saleen would touch those up for $500 if it really bugged him. . The guy says "Oh that's structural damage patched up!". I'm like "the hell it is", and at this point I know what's coming next. The 15k offer, which I said was firm at 25k. And even though he had cash, the 15k offer would have matched two of his checks so was probably his plan all along. Its all making sense now. He also told me that he lied to his wife at how much the boat is, guess the number? 15k! Ugh, I wasted a trip out there and feel like an idiot. Lesson learned. I am not selling to anyone unless they are an RDP Inmate or Vetted by one. Craigslist is horse shit.

I did enjoy a bitching day on the lake yesterday, except for the shitty wind. Oh well, back to the drawing board. Thanks everyone for the help and advice here. Its badass that we all watch our backs here and offer tips.
 

Groper

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LOL your too nice "gqchris" CL sucks balls. I have someone flying in tomorrow from out of state to pickup the Stoker. They tried to push for a Check or Cashiers Check in their PM's, I kept replying "No OUT of State Checks" and told them "CASH Only" each time. They'll be showing up with cash tomorrow. :cool:
 

Duramax

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Well, that was a giant waste of time. I think I know the plan all along now. Finally convinced the guy to cash only yesterday. He insists on a quick water test. OK, no problem. I tell him Ill drag the boat from Needles since he is at Park Mojave and meet him there.

I wake up at 5am, drag the boat there. Pay the launch fee. He tells me to bring it by his buddies house to check out. There is like 6 guys there ready to tear the boat apart from the ground up. They start at it. get under, and see some beach marks from beaching from 33 years of its life. I tell them the boats not perfect, and Saleen would touch those up for $500 if it really bugged him. . The guy says "Oh that's structural damage patched up!". I'm like "the hell it is", and at this point I know what's coming next. The 15k offer, which I said was firm at 25k. And even though he had cash, the 15k offer would have matched two of his checks so was probably his plan all along. Its all making sense now. He also told me that he lied to his wife at how much the boat is, guess the number? 15k! Ugh, I wasted a trip out there and feel like an idiot. Lesson learned. I am not selling to anyone unless they are an RDP Inmate or Vetted by one. Craigslist is horse shit.

I did enjoy a bitching day on the lake yesterday, except for the shitty wind. Oh well, back to the drawing board. Thanks everyone for the help and advice here. Its badass that we all watch our backs here and offer tips.
FUCK THAT GUY.........

But, I'm happy we can still go boating!!!! What a complete asshole
 

namba860

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That’s a bunch of BS I’m sorry you had to go through all that and I especially hate third basemen. If I ever sell something and a third basemen shows up and I here one negative thing from him that’s not relivent I unwind the deal right then and there. Most of the time the the buyer pulls me aside apologizes and seals the deal.
 

ChumpChange

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Well, that was a giant waste of time. I think I know the plan all along now. Finally convinced the guy to cash only yesterday. He insists on a quick water test. OK, no problem. I tell him Ill drag the boat from Needles since he is at Park Mojave and meet him there.

I wake up at 5am, drag the boat there. Pay the launch fee. He tells me to bring it by his buddies house to check out. There is like 6 guys there ready to tear the boat apart from the ground up. They start at it. get under, and see some beach marks from beaching from 33 years of its life. I tell them the boats not perfect, and Saleen would touch those up for $500 if it really bugged him. . The guy says "Oh that's structural damage patched up!". I'm like "the hell it is", and at this point I know what's coming next. The 15k offer, which I said was firm at 25k. And even though he had cash, the 15k offer would have matched two of his checks so was probably his plan all along. Its all making sense now. He also told me that he lied to his wife at how much the boat is, guess the number? 15k! Ugh, I wasted a trip out there and feel like an idiot. Lesson learned. I am not selling to anyone unless they are an RDP Inmate or Vetted by one. Craigslist is horse shit.

I did enjoy a bitching day on the lake yesterday, except for the shitty wind. Oh well, back to the drawing board. Thanks everyone for the help and advice here. Its badass that we all watch our backs here and offer tips.
Interesting synopsis and definitely an interesting way of negotiating. Didn’t see that coming.

I remember back in the day when I was a bank teller, some of my large investors would come in the bank in the morning and get seven or so cashiers checks in various amounts as they were going to the court steps to buy properties. They needed all sorts of checks to add up to certain amounts. If they didn’t get the property, they be back later that day putting them back in their accounts.
 

Joe mama

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Post the guys info on here so nobody else gets screwed..

Outdrive one and done!
 

LuauLounge

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FYI, I went to my credit union looking to wire funds to someone. They said they would have to have wire instructions from his bank, along with his account info. There was also a $25 fee. No charge for Cashiers Checks.
Ended up getting Cashiers Check, deposited into his bank account. His bank does 2 day holds.
 

Mikes56

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Be careful of cash!!!! Before I retired I went to a guys house for a report of some counterfeit money. The guy had just sold his boat for $17,000 cash and when his wife that works in a bank came home, all the cash was counterfeit. The buyer was already long gone with the boat.

I felt bad, but had to take all the counterfeit bills for evidence. I don't know what happened after that, but I'm pretty sure the guy lost out because he only had the buyers name, and no license plate number, etc.

The safest way is to meet a buyer at your bank or his, and do the transaction there.
 

REVENGE 97

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I didn't read all of the posts but I had a guy that owed me about $3500 and I had already relocated to AZ after closing my shop in Nor Cal, I left His boat at a friends business until the owner could come up with the money He owed me, He wanted me to give Him His boat without payment and said it was for sale and as soon as it sold He would pay me....LOL NO WAY! It was a late Friday afternoon and my friend said the guy was there at His shop with a Cashiers Check and wanted to pick the boat up, my friend sent me a pic of the check so I said sure take the check, have Him sign a release I made up and let Him have his boat. That all done my friend sent me the check in next day mail, I got it the next Tuesday and deposited it, my bank called me at the end of the week and said the funds were declined, I went Apeshit! Tried calling Him with no response. I called His bank Chase and they said He had come in first thing last Monday and stopped payment on the Cashiers Check because He said He lost it. I told them that was crazy because I had it and deposited it in my bank on last Tuesday, they took my info and said they would get back to me. The following week I got a call from someone hi up at Chase and She said they would make the check good and go to any Chase and they will had me the cash, I did and I got the cash, she said that what He did is illegal and they would take it from there..........So lesson learned.....CASH ONLY or no deal for me from now on no matter what not even from a friend. You made the right choice, good luck with your sale.
 
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