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Bogus cashiers checks and selling a LD
Yahoo Message Number: 111698
When selling an Rv to a private party, how do you avoid the counterfeit cashiers checks you read about?

Michael
2013 31' IB
Bogus cashiers checks and selling a LD
Reply #1 –
Yahoo Message Number: 111699
Have the buyer set up a wire transfer to your account; then activate it by phone once he approves of your rig and agrees to buy it.  This is what I did back in 2006 and it worked great.  The alternative would be for him to bring you the cash!  And yes, I have experienced the 'bogus cashiers check' deal.
State Farm got to pay me for a 'stolen' motorhome:-(

Glen

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Re: Bogus cashiers checks and selling a LD
Reply #2 –
Yahoo Message Number: 111700
Develop trust via email. Get it in writing. I prefer not to use the phone.
 This is what happened when we sold our second LD recently. Then when the buyer inspected our LD they brought earnest money - cash. A few days later the buyer came with their parents and a check.

When we sold our first LD we both went to the buyer's bank and I watched the check made by the bank.
 When we bought our second Foretravel recently, the owners gave us the keys and the FT and told us we'd receive a fax on which bank to send the money (as soon as their bank told them)! (They said our many emails convinced them to trust us.) The next day we started driving from Florida to California.

best, paul ___ 'Thriving not Surviving' See our websites at www. LazyDazers.com    www. Bike70th.net
www. SMARTERyellowpages.com & www. ReformUSCongress.org
Re: Bogus cashiers checks and selling a LD
Reply #3 –
Yahoo Message Number: 111704
Buying and selling items online I learned to use U.S. Postal Service checks. They're backed with cash, and I haven't heard of anyone circumventing those yet.
Bogus cashiers checks and selling a LD
Reply #4 –
Yahoo Message Number: 111705
When we bought ours I asked Bank of America if there was a way that the buyer could confirm that the check was legitimate. They gave me an 800# to give to the buyer.

Worked out fine for us both.

Jim C
Re: Bogus cashiers checks and selling a LD
Reply #5 –
Yahoo Message Number: 111706
At 07:16 AM 4/10/2010, you wrote:

Quote
Buying and selling items online I learned to use U.S. Postal Service checks. They're backed with cash, and I haven't heard of anyone circumventing those yet.
I'm an old hand at eBay, and that was one of the first lessons I learned. My concern would be getting, say, $20,000 in cash to the post office safely, to buy the check. We're not talking about a pair of shoes  or a golf club here! Secondly, does the P.O. even issue money orders of that size?

When we bought our new-to-us LD a few years ago, we simply got a cashier's check and took it with us to pick up the vehicle. I guess those were more innocent days!
 I like that Bank of America will give you a number to call and check on authenticity. That makes a lot of sense to me.

Sonsie
Re: Bogus cashiers checks and selling a LD
Reply #6 –
Yahoo Message Number: 111714
Quote
When selling an Rv to a private party, how do you avoid the counterfeit cashiers checks you read about?

Michael
Michael, one thing you can do is ask what the issuing bank is and call them.  They should be able to tell you what to look for.  They might even be able to send you a picture of their check and/or what watermarks to look for.  Not fool proof but it can help.

Ramon
Re: Bogus cashiers checks and selling a LD
Reply #7 –
Yahoo Message Number: 111723
It would be safest to take the buyer directly to the bank and get the banks "In Person" verification of their acceptance of the check.
 In talking with a manager at Bank of America he said they receive numerous bogus cashiers & bank checks every month, and that was just his branch. He said it is really getting bad and the bogus checks are really really authentic! They're getting real good at duplicating anything that can be printed
 I personally won't accept cash in bills of $50 or higher for fear of the possibility of them being counterfeit.
 Many local merchants (Burger King comes to mind) will no longer accept anything bigger than a twenty! Even from a bank! Can you imagine trying to convince a bank after you've left their branch that a counterfeit bill was given to you by them?
 Calling a number to see if a check was good wouldn't satisfy me... Those involved scamming  people with bad checks could simply duplicate the real check and give you the bogus one.
 The phone call would verify the number but when you finally get to the bank, another working within the scam could have cashed the real check leaving you without anything other than a bogus check!
 Those kind of people are very creative in working out ways to scam you out of money!
 Both parties (Seller and Buyer) in the Sellers bank with verification received directly from the bank works the best. A scammed would come up with every excuse imaginable to avoid being caught inside the bank in that senario!

Ed 94' LD 26.5' MidBath Port Richey, FL
Re: Bogus cashiers checks and selling a LD
Reply #8 –
Yahoo Message Number: 111729
There is Paypal. Of course, both parties have to have a Paypal accounts.
I find Paypal most convenient to pay for online transactions.
 I would not sell to or buy from anyone where there was not mutual trust.
 
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Don & Dorothy
Sold our LD in June of 2023

Our boring always non-PC travel blog
Traveling Dorothy
Re: Bogus cashiers checks and selling a LD
Reply #9 –
Yahoo Message Number: 111732
At 10:34 AM 4/11/2010, you wrote:

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There is Paypal. Of course, both parties have to have a Paypal accounts.
I find Paypal most convenient to pay for online transactions.
So do I. But again, I doubt that PayPal is set up for the size of transaction created when you sell a Lazy Daze--anywhere from $7,000 to $50,000 or more. I've never received (or spent) anywhere near that much via PayPal, and I've done a lot of online selling and buying!

Sonsie
Re: Bogus cashiers checks and selling a LD
Reply #10 –
Yahoo Message Number: 111781
On Apr 11, 2010, at 6:01 PM, Sonsie Conroy wrote:

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I doubt that PayPal is set up for the size of transaction created when you sell a Lazy Daze--anywhere from $7,000 to $50,000 or more.
Paypal is pleased to hold amounts of any size, enough to purchase a Lazy Daze or a Prevost. Otherwise I would not have mentioned it.
Perhaps it is not worth the effort if both parties do not already have Paypal accounts connected to one or more of their bank accounts, since it takes over a week for them to verify a banking account.
It's convient to transfer funds from your bank account to and from a Paypal account.
Since we are on the road more than we are at home, I find electronic transfer of funds to be most useful.
I have all of our banking and brokerage accounts accounts set up so we can make transfers as needed.

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Don & Dorothy
Sold our LD in June of 2023

Our boring always non-PC travel blog
Traveling Dorothy
Re: Bogus cashiers checks and selling a LD
Reply #11 –
Yahoo Message Number: 112163
Quote
It would be safest to take the buyer directly to the bank and get the banks "In Person" verification of their acceptance of the check.

 That's great if you're selling to a local buyer.  We've sold several RVs and autos...never once was the sale made to a local buyer.

Linda Hylton http://map.datastormusers.com/user1.cfm?user=1167 http://earl-linda.blogspot.com/
Linda Hylton