Would You accept a Personal Check

Selling my boat would you guys accept a personal check from an out of towner?

Absolutely if he met me at my bank and stood next to me while I cashed it. Once I have the CASH (not check) he can have the keys

If I was crazy I would but i’m for the most part not crazy.

Even if he meets you at your bank and you cash it doesn’t mean that the check is good. It normally takes a few days for a check to clear, if it doesn’t have sufficient funds the money comes out of your account.

Don’t take a personal check, some people don’t even trust cashiers checks anymore. i’ve never had an issue with a cashiers check.

No.

There is no way you can be sure it’s good. As has already been said, the banks have stacked the rules on thier favor on this. Even if it clears, they can yank the funds from your account if it later turns out to be no good.

Cash or cahsier’s check. For most major banks, there’s a number you can call to verify a cashier’s check is good and confirm the amount.

Grouse

Cashiers check or cash.

Meet at the bank and have them call to verify the funds or hold the item till you see the $ in your account. Or simply request a cashiers check and take it to your bank to verify its not forged. If the buyer wants it they will wait for you to get your piece of mind that the funds are legit!

If he wants to pay with check hold the boat until the check clears. Cash is much quicker.

never.

CALL HIS BANK AND THEY WILL TELL YOU IF HE CAN COVER THE AMOUNT HE HAS WRITTEN IT FOR.THEY CANT TELL YOU HIS BALANCE BUT THEY CAN SAY SUFFICIENT FUNDS ARE AVAILABLE TODAY.

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If I was crazy I would but i’m for the most part not crazy.

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Minus the occasional white bass and PBR dining experience

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If he wants to pay with check hold the boat until the check clears. Cash is much quicker.

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This is good advice. Some of you guys act like you are selling the guy drugs… Better meet him in a busy park, if he really is a crook, after he hands you the CA$H, he might hit you over the head with a leadpipe, take his cash back and your boat…

Older people (like my baby boomer generation) do not do PayPal or Credit cards like most younger folks do. I have a bow shop and a guide service, and sold quite a bit of gear over the years accepting checks.
The 3 day checking clearing thing is gone…my credit union clears cancelled checks that day because of computerized banking.
Simple…as said before, if it is for a large sum, your bank or CU will be glad to verify the transaction.

Not a lot of banks will verbally verify funds on a personal check over the phone any more. Also a word of caution, a person could always transfer funds out of the account before the check clears even if the bank says the check is good.

Cashiers check/cash all the way.

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Meet at the bank and have them call to verify the funds…

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They don’t do that anymore, at least not most banks. I’ve stood there while bankers tried to make the call for me and 99% of banks refuse to verify funds anymore. I don’t know why. Just sayin…

You can’t count on this.

I’d ask for cashier’s check or (if it’s less than $1500) money order. I knew a guy who sold a boat to someone and when he went to deposit the $100 bills the bank informed him that sadly they were fakes.

At least with a cashier’s check or a money order you have a paper trail.

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Not a lot of banks will verbally verify funds on a personal check over the phone any more. Also a word of caution, a person could always transfer funds out of the account before the check clears even if the bank says the check is good.

Cashiers check/cash all the way.

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yup. used to work at a bank and have seen people get burned. if it was for a smaller amount and you would be fine with the loss then o.k., but i guess i’m making the assumption a boat would be for a larger amount.

sure, your boat, motor and trailer will have id numbers, and you’ll have his address to get your boat back but it may be a headache.

you’ll most likely be ok but there are smarter ways to conduct the transaction; cashier’s check or cash is what i’d recommend.

Accept a cashiers check during normal banking hours…

Have your bank call their bank to verify..

Done Deal !!!

My wife is a banker

I am a Banker. Verifying a check if the check issuing bank will does not mean anything. The person can leave your Bank and call in a stop payment. You would be out the cash. Cash or Cashiers check only. Privacy laws make verifying a check a thing of the past. Good luck.

Mwal

I would not transfer keys or titles until i confirmed collected funds. In my business they are waiting 4-6 mnths so it’s not that big a deal.
If they want to drive away with it, i’d go with cash. Too easy to fake a cashiers check these days.

You know, even a cashier check is not 100%. It can be doctored, home made, have a stop pay on it (lost or stolen), etc.

I recommend keeping one of there children for two years. It is the only way to be sure.

Never accept his wife, i made that mistake once…..once.

Are you selling anything, I mean ANYTHING, I have a 12 year old daughter you can have for collateral

Ron

Ok looks like cash,cash or cash.

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If he wants to pay with check hold the boat until the check clears. Cash is much quicker.

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As I see it this is the only safe way it can be done. He can stop payment once he gets back home or a number of other things. Once it clears you are good and he can have the keys

Have the money wired, buyer pays the fee. Then have a cup of coffee with the buyer until your bank calls you to say money is in your account. Done this on previous boats.

Cashier check or cash only on those types of sales.

Not a chance. Most people aren’t out to pull a fast one on you, but still not worth the risk.