Selling bike online

[SwiftTone]

I have a prospective buyer for my bike but he's in CA. If he pays me by cashier's bank check or wire transfer, and I wait at least a week before shipping, what are the risks of the funds not being good?

[OneCheekRider]

wait until the funds show up in your bank account. Most wire transfers are instant. Same with a cashiers check (maybe a day or two to clear). If it's not securely in your account, something is up. Don't send anything until you're paid in full.

Is this guy on eBay or another forum? Or is he a Nigerian prince on vacation in CA? If the latter, pass on the deal. I'd assume if he's on eBay or a forum you would be able to gauge his rep to see if it's worth any risk.

[e30addict]

Escrow service instead?

[jasnmar]

Wire transfers are safer than cashiers checks. We've had the bank fund a cashiers check before only to come back and "correct" it later (we knew it was scammy so we were waiting).
Escrow, as mentioned, is the safest, for both parties, but does cost some monies.

Good luck with sale.

[butcher bergs]

Wire.

I've had a few long distance dealings and bank to bank wiring has been the most drama free.

[tsorfas]

Escrow service instead?

That. Escrow rocks and is super safe for buyer and seller

[DucDave]

I've never used an escort service, but it sounds interesting...

Oh, wait...you said 'escrow'....fak

[Rambunctous]

Escrow service instead?

You can find many reputable escort services in Craigslist.

[breakdirt916]

The other board has good reviews on escorts...that was you don't get scammed

[Stromper]

Just dont loose track that it can take up to 3 weeks for financial places to sort out checks etc.
They can reverse a transaction

I believe BANK checks are backed by the bank

[whynot]

I used escrow.com a couple of times, once selling, once buying -- well worth the modest fee.

[SwiftTone]

All set guys. Thanks.

Ended up getting a wire and not shipping the bike until 7/15.