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Safest form of payment?

  1. #1
    Expert Agitator GearHd6's Avatar
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    Safest form of payment?


    Once the weather breaks I'm going to be selling a small travel trailer. I figure it'll go on Craigslist and maybe Facebook Marketplace. What is the safest form of payment to take from a potential buyer? Cash I believe is safest but I'm figuring the sale price will be around $10k, not exactly an amount everyone has kicking around. And now it sounds like there's a lot of fake bank checks going around so that no longer sounds safe.

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    Jeff

  2. #2
    Super Moderator TheIglu's Avatar
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    Re: Safest form of payment?

    Cash. Meet at a local PD parking lot for the transaction.

    If they don't have it kickin around, how are they supposed to pay for it?

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  3. #3
    Lifer ZX-12R's Avatar
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    Re: Safest form of payment?

    Any legitimate buyer should be willing to meet you at their bank. Have them withdraw funds in front of you and have it turned into a cashier's check made out to you. That's about the safest way I can think of for a local transaction.

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  4. #4
    Senior Member capitalcrew's Avatar
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    Re: Safest form of payment?

    Yeah, meet at a bank.

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  5. #5
    TWINS! xrocket21's Avatar
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    Re: Safest form of payment?

    Cash. Cash. Cash.

    I always ask for cash. Last big sale I was pressured into accepting a bank check. After the sale I was threatened with them cancelling/recalling the check, which some research says it is possible, some say it isn't, but I will never accept anything but cash again.

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  6. #6
    Expert Agitator GearHd6's Avatar
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    Re: Safest form of payment?

    Quote Originally Posted by TheIglu View Post
    Cash. Meet at a local PD parking lot for the transaction.

    If they don't have it kickin around, how are they supposed to pay for it?
    True. Years back I sold a truck to a young kid that got a loan from a bank and they gave him a check to give me. I guess that's more along the lines of what I meant. I never had trouble with that sale but that was also 6 years ago.

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    Jeff

  7. #7

    Re: Safest form of payment?

    Cash is best

    Second best is a cashiers check and if you really want, upon receiving it you can call the bank to verify at the time of transaction/receiving it.

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  8. #8

    Re: Safest form of payment?

    Quote Originally Posted by xrocket21 View Post
    Cash. Cash. Cash.

    I always ask for cash. Last big sale I was pressured into accepting a bank check. After the sale I was threatened with them cancelling/recalling the check, which some research says it is possible, some say it isn't, but I will never accept anything but cash again.
    While thats true, if you're selling something for like $30,000 and you're expecting cash it's going to be an uphill battle.

    You would also have to meet at a police station because a stranger giving you $30K cash can just demand it back from you right after. You don't know his real name, you don't ask for the ID, easiest robbery if somebody wants to. Once you hand keys/title over he's a stranger that can rob you right then and there. At least cashiers check can be verified on the spot and has the persons real identity on it.

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  9. #9
    Hypertarded
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    Re: Safest form of payment?

    This is the only form of payment I accept for "problem resolutions" or any other "contract" jobs:

    Safest form of payment?-krugerrand-jpg

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  10. #10
    Expert Agitator GearHd6's Avatar
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    Re: Safest form of payment?

    How are you verifying a cashier's check on the spot?

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    Jeff

  11. #11
    Lifer Falko's Avatar
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    Re: Safest form of payment?

    IF the person is getting a load on the item, the bank gives him a cashier's check for the amount made out to him and you. He signs it and turns it over to you. You can either accept the check and hope for the best or meet him at his bank to cash it out. No bank that is providing a loan for something is going to hand the guy a stack of cash, they want to be sure it is actually going to someone for a good.

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  12. #12
    Expert Agitator GearHd6's Avatar
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    Re: Safest form of payment?

    Quote Originally Posted by Falko View Post
    IF the person is getting a load on the item, the bank gives him a cashier's check for the amount made out to him and you. He signs it and turns it over to you. You can either accept the check and hope for the best or meet him at his bank to cash it out. No bank that is providing a loan for something is going to hand the guy a stack of cash, they want to be sure it is actually going to someone for a good.
    Ok, that makes sense. That must have been what happened when I sold my truck. It was so long ago I can't remember exactly how it all went down.

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    Jeff

  13. #13
    Lifer LuvDog's Avatar
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    Re: Safest form of payment?

    Cash or meet at their bank and get a cashiers check directly from them and cash it out there.

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  14. #14
    Lifer Tekime's Avatar
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    Re: Safest form of payment?

    Escrow

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  15. #15

    Re: Safest form of payment?

    Quote Originally Posted by GearHd6 View Post
    How are you verifying a cashier's check on the spot?
    You can call the bank and verify during business hours.

    I had to deal with that when I flew across the country with a cashiers check to buy a car and the seller wanted to have some confirmation before I took the car from him.

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