a certified check is a check issued by the bank only with available funds. when he gives it to you call the bank right then and there to verify the check. or go straight to the bank with him and depsot it. i wouldnt want to carry that kinda money with me either to easy to get robbed and for an 08 im sure ur asking a nice price for it. as for ur plates dont do it always keep ur plates he can go to the dmv and buy a daily temporary sticker its real cheap. i sold a frined my car and gave him my plates he got $3000 dollars worth of tickets and my license got suspended because of that. ur plates r like ur id.
Should I accept this when selling my busa?
- Thread starter busa clubslinger
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Ludicrous Speed
Registered
The only way I would take a cashiers check is for me to go to his bank and have them issue it while I am there.
There is an old member of this board, he sold his bike off of CL. Dude gave him a cashiers check, and he deposited it. The check was legit, the numbers were legit, but it was not the guys account. A month later, he has no bike, no title, and they took the funds back from his account!
There is an old member of this board, he sold his bike off of CL. Dude gave him a cashiers check, and he deposited it. The check was legit, the numbers were legit, but it was not the guys account. A month later, he has no bike, no title, and they took the funds back from his account!
KvHotDog4
Registered
A cashiers check is just like cash, the money is already out of his account once the check is written and it is not able to be deposited into any account unless it is in your name. I know because I just did this same thing. I had to get on a plane to go pick up a 2011, I did not want to fly with that much cash, the guy I was meeting was uneasy about it so we met at a Bank of America where he could cash the check then and there.
I don't know what the other guy is thinking when he says he would rather have a personal check, but that is crazy. The money is not verified when he writes a personal check, and he could be long gone before you ever know the check is no good.
Cashiers check is safer than cash, I don't know how easy it is to counterfeit one. If you are uneasy with the idea (which is expected) then do the transaction during banking hours at a bank and have them approve it.
I don't know what the other guy is thinking when he says he would rather have a personal check, but that is crazy. The money is not verified when he writes a personal check, and he could be long gone before you ever know the check is no good.
Cashiers check is safer than cash, I don't know how easy it is to counterfeit one. If you are uneasy with the idea (which is expected) then do the transaction during banking hours at a bank and have them approve it.
superchargedv8
Registered
i dealt with a cashiers check once and i was told to wait at least 2 weeks after check cleared. The way it was expalined to me was that yes the money is available when the cashiers check is made but can always be taken back within a certain amount of days if i remember correctly.
The ONLY things you can count on these days are: CASH (if not counterfeit), and a WIRE TRANSFER - those can't be taken back. Everything else can.
Now, since you want to sell you bike, you've got to figure out a way to do this while keeping your buyer interested. I don't mind a cashier's check, as long as I can verify it's legitimacy. Normally that's done by going to a branch of the issuing bank, or in most cases, during business hours you can call them and verify it by number. In fact, a bank is a great place to conduct the transaction because you're not likely to get robbed and usually you can find a notary for your bill of sale (and I HOPE you have a good bill of sale AND VERIFY the buyer - in other words, I want to see his driver's license and verify the name/address and license # (so you can get the police involved if there are any issues).
The main point is to help the buyer understand you are trying to protect BOTH of them, and these days you just can't be too careful.
When I bought my Busa (used off Ebay) in 08, I drove to Lexington; I had a bill of sale and a cashier's check. I met the seller at the bank; we notarized and he verified the check. I had a bill of sale and insisted we both see each other's ID. Remember, I was the BUYER. I wanted to make sure he a) really owned the bike and b) didn't try to rob me. Went fine.
Now, since you want to sell you bike, you've got to figure out a way to do this while keeping your buyer interested. I don't mind a cashier's check, as long as I can verify it's legitimacy. Normally that's done by going to a branch of the issuing bank, or in most cases, during business hours you can call them and verify it by number. In fact, a bank is a great place to conduct the transaction because you're not likely to get robbed and usually you can find a notary for your bill of sale (and I HOPE you have a good bill of sale AND VERIFY the buyer - in other words, I want to see his driver's license and verify the name/address and license # (so you can get the police involved if there are any issues).
The main point is to help the buyer understand you are trying to protect BOTH of them, and these days you just can't be too careful.
When I bought my Busa (used off Ebay) in 08, I drove to Lexington; I had a bill of sale and a cashier's check. I met the seller at the bank; we notarized and he verified the check. I had a bill of sale and insisted we both see each other's ID. Remember, I was the BUYER. I wanted to make sure he a) really owned the bike and b) didn't try to rob me. Went fine.
A certified check may still be bad and cash at you bank. Within 7-10 business days is when you will find out its a forgery and then the account holder will be liable for cash already given to him.
Think about it. If he's at the bank getting the certified check why can't he just come with the cash?
That right there smells fishy. Can go to bank for check but not cash.
TAKE ONLY CASH, and get yourself a bill checker pen at office depo to make sure bills are real.
If not you are taking a BIG risk accepting a piece of paper for your bike.
Only after I had deposited his cert check and 7-10 business days passed would I entertain giving him the bike. If it's not that than NO I want cash in my hand.
Like others have said, GO TO HIS BANK and DO THE DEAL ON THE SPOT IN THE BANK!! Make sure you get cash, and everything is done....then sign the title over on the spot so both parties are covered.
Also, NEVER give him your plates. You are asking for serious issues with that. Make him go to the DMV and buy a 30-day paper tag to ride the thing home. Otherwise, tell him to take a chance riding it home with nothing but you are NOT giving him your plates...
Also, NEVER give him your plates. You are asking for serious issues with that. Make him go to the DMV and buy a 30-day paper tag to ride the thing home. Otherwise, tell him to take a chance riding it home with nothing but you are NOT giving him your plates...
Cash or bank check only from a friend. No question about it.
As for the plate, in most states you have 30 days to register/plate the vehicle as long as you can show an inquiring LEO a current bill of sale. That is another good thing, do up a bill of sale (you can download one off the internet easily) and take a picture of his drivers license. If they are not OK with this procedure, stress to them that there is a lot of fraud out there today and you expect to provide him with the same information he is providing you.
If he is still not up for the deal because of these stipulations, walk away from the deal.
As for the plate, in most states you have 30 days to register/plate the vehicle as long as you can show an inquiring LEO a current bill of sale. That is another good thing, do up a bill of sale (you can download one off the internet easily) and take a picture of his drivers license. If they are not OK with this procedure, stress to them that there is a lot of fraud out there today and you expect to provide him with the same information he is providing you.
If he is still not up for the deal because of these stipulations, walk away from the deal.
I just bought my 08 on a bank certified check. I would never travel with that type of cash on me. I met the seller at his house road the bike and loaded it on my trailer. we then headed to his bank and he cashed the check. Done deal easy as heck.
You must realize that until the actual transfer of registration is done at the registrars office the previous owner is liable for ALL that may occur until that point. You keep you're plate fine but he's still riding on your name. Signing the title means nothing, having a bill of sale means nothing. If six weeks later he's riding around and still hasn't effected proper transfer then gets into an accident and cause major damage or death guess who they are coming after? I run into this everyday with clients not wanting to trade their cars but instead sell it themselves to try to get a little more. This is only Florida as I know but until their name is legally assigned and registered to it seller is liable.
Actually Im not crazy at all! Didn't say I would release the bike before it cleared! I myself like personal checks because they normally come with the persons name and address on them. And its pretty easy to look up people imo.I have gotten fake cashier checks in the past. I just took a personal check from a guy who bought my bike. Didn't release the bike to the shipper until after it cleared. Sorry if that was misunderstood. No question no one gets my motorcycle until I have cash or its confirmed.
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