Cashier's Checks

[JuryRigger]

When I bought my current vehicle, I paid 6K in cash-for both of our safety, after I had inspected the truck at his place-we met at the bank; and I cashed my check right in front of him, handing him the money then-I didn't have to carry this huuuge wad of bills around, and he didn't have to trust my check, or worry about the authenticity of the bills...
Title needed notarized anyway, so making the actual deal at the bank was perfect... The other two vehicles that I have bought were significantly cheaper, and were paid cash-in-hand...

Coming back at YOU if his check bounces is utter BS, a few clicks on a computer will show if the funds are there; this IS is 21st century after all... AND; once the check is cashed, it SHOULD be shown IMMEDIATELY as a preauthorization/pending transaction in his account, which locks that money up to be transferred-and if our recent multiple experiences with card fraud are to be any example, once it's pending/in preauth, that money is the PAYEES-PERIOD!!!...
And only after it's been paid, will they investigate the fraud-to the delight of whomever flew on United Airlines, among other things... 
At least, that's how our bank does it... 
Jesse

[customcutter]

 

I wouldn't have a clue.  It's about 3 or 3.5 years of insulin for my wife with insurance.

[customcutter]

The branch manager finally called me.  He can withdraw funds from his account.  Then I somehow deposit them in my account.  No money changes hands and assets are immediately withdrawn and deposited.  Zero chance of fraud and both parties are protected not carrying 30K around.

But according to the young lady I spoke to earlier they no longer do in bank transfers of funds.

Branch manager said it's something to do with "tracing" funds by the Feds , and apologized that the person I spoke with earlier didn't know how to complete the procedure.

BTW, tractors don't have titles or registrations.  At least not in the state of Fl.  He'll get a "Bill of Sale" instead.

[SILENT SQUIRREL]

IMO the way to deal with that amount of money in check form is a Certified Check.
With one the issuing bank guarantees the money will be available
The bank will also have put your name on it as the payee; and it cannot be cancelled by the payer.
Of course, there is a fee for issuing a Certified Check, but that is minimal when the value is considered.
Nothing fishy about it
Just my 2 scents

[customcutter]

Tractor is sold.  A LOCAL buyer contacted me this AM.  (Someone not wanting to hand me a check, and transport the tractor.)  He looked at the tractor drove it.  He owns a sawmill company about 20 miles away.  I followed him to his business wrote me a check, and said call me when the check clears and I will come pick up the tractor.  He didn't care if it took 2 weeks to clear. 

My bank said they would put a 9 day hold on the funds, until the check clears.  If he wanted the tractor sooner, he could bring a copy of the cleared check from his bank, and they would release the funds.

Glad this over, too much stress.....

[avator]

Glad it worked out Ken.

[customcutter]

Glad it worked out Ken.

Thanks Bill.  Now to sell the Cooks AC-36 portable bandsaw mill and the 25' gooseneck.