Selling boat

[Mike1969flh]

I don’t even trust Cash anymore

My wife just transferred $5,000 from her dad's account into hers. Took cash from his bank directly to hers still banded together. Her bank identified one of the 100 dollar bills as counterfeit. Of course the original bank denied it.

[Judson1]

Certified check from bank or cash

Thats how I bought mine. Cashiers check.

[WISHBONE999]

Wire transfer only….I almost got a bad/fake cashiers check on a gun that I was selling

[Chipnalong]

I sold mine last year , guy paid in two cashiers checks . One from a loan he had taken out and the other from his personal account . Everything seemed great until he called me a week later and the loan company stopped payment on their cashiers check ( they thought I still owed money on my boat ) . I was lost , my boat was in NC the loan company was in Texas , and I was sitting in Alabama . I never knew they could stop payment on a cashiers check . If you accept one please call the bank it’s from and confirm everything is ok . Even when I purchased my new boat the dealer called my bank to confirm payment .

[CDN Bass]

I was interested in selling my boat but was wondering how to handle the transaction so I don’t get ripped off. Like getting a bad check or something. Is there any way to make sure the funds are good prior to handing over the keys?

You can't be serious.

If you are, I have some Saskatchewan ocean front property for sale.

[RichW]

twice

[RichW]

I've done this twice. I asked what bank the buyer uses, in one case it was the same one that I use. In the other it was different, so I went to that bank & opened an account (savings, so no check fees). On the day of sale watched as buyer transferred the cash to my account, then verified it was there & then I signed the title. Went pretty smooth.

[csurp]

Never buy from the representative of someone who is on top of a mountain and cant get down, about to be deployed to some ...istan or another or living in a deep sea habitat and cant get out...I have heard all of these.

[bnt55]

Cashiers checks can be forged, best solution is to do the transaction at a bank and have his bank make out the cashiers check right there in front of you, then sign over title and bank notary signs. This has always been my method and so far so good, other than just straight up cash, that works too. Definitely get the fake money pen for bills tho. Good luck

[Redngoo]

I purchased my boat out of state back in 2014. For me even though I had been dealing with seller and talked with him several times. I did not know him and he did nor
T know me. Trust is hard on both sides is hard. His part: is my money good. Mine: is the boat what he says it is. For us the simplest and easiest way was to let our bankers handle the situation. His bank verified the check I was bringing from my bank. If I didn't like what I seen I woulda simply brought the check back to my banker. Transaction went very smooth.

[AKRISONER]

My number one recommendation, lay down how you want the money, in my last instance the seller wanted 5k cash and the rest as a bank cheque. However you want your money, the buyer should oblige without hesitation.

[Bullet[BS]]

Easiest way is to meet at a branch of the buyers bank and cash the check there. If the funds aren't there you will know right away.

[BigFishSteve]

Ask you bank.

[Gsmith223]

Bank wire is by far the best and safest.

[billproxs]

wire always works easiest for me.

[BMCD]

Bank wire is by far the best and safest.

100% agree. although this last time there bank took forever to transfer the money. we were waiting for 5 hours for it to show up.

Means u have to do the transaction during the week typically though.

[AustinV]

Cashiers check with prior confirmation if possible. I bought my boat out of state and everything worked out really well. I got a cashiers check for the price I was going to pay. Went over the boat, test drove it, then went to his bank. His bank called my bank to verify the cashiers check and went through the whole shebang to verify myself. He walked away with a big check and I walked away with a boat. A little bit of planning prior to the sale will save a lot of headache and keep things moving.

[1BADAIR]

Rec lending . They do like an escrow account or something. Forgot what it was called. They held title until the funds cleared.

[MarKimBassTeam2021]

I agree that $70,000 is definitely to much cash to carry around. And remember, if you get stopped for speeding or any reason and the police officer wants to search your vehicle or you and find that cash and you don't have the bank receipt or can prove where the money came from, the police can confiscate all of your cash and you can't do nothing about it. Ridiculous! That's why the certified bank check is needed. Now if you are buying a boat under $10,000 than cash is King. They can't confiscate cash under $10,000.

[mactlman]

I sold mine last year , guy paid in two cashiers checks . One from a loan he had taken out and the other from his personal account . Everything seemed great until he called me a week later and the loan company stopped payment on their cashiers check ( they thought I still owed money on my boat ) . I was lost , my boat was in NC the loan company was in Texas , and I was sitting in Alabama . I never knew they could stop payment on a cashiers check . If you accept one please call the bank it’s from and confirm everything is ok . Even when I purchased my new boat the dealer called my bank to confirm payment .

so what happened then?? leaving us hanging?