so some guy out of state offers to buy an item I have for sale. Wants to pay via cashiers check and is willing for the check to clear before receipt of my item. item will pass to him via a third party. I know, its convoluted and having recently been burned I'm twice leery. your thoughts?
As long as you the check clears, IE you have the cash in hand, and if there some kind of registration it's out of your name, what's the worry? I've bought stuff via Craigslist that way with no problems.
I've heard, though, that it can take a long time to be sure a cashiers check clears. A money order might be a lot faster if the value isn't over their limit. Others here will know more about that than me.
I would be leery also. It sounds like the scam that relies on you believing that just because the bank put the cash in your account the check must have cleared. It can take a while for the bank to find out that the check you deposited is no good but by then you have already sent the item.
The item will pass to him by third party? I think that means he is going to have some guy come pick it up so there is no address the cops can go to looking for the guy who gave you the bad check.
Tell him he can send the check to his friend who can then cash it and then pay you in cash. See how that goes over, bet you never hear from him again.
Paul, sounds like a good plan and pretty much how I responded to his last message.
Coming from the other side: Several years ago I bought a boat from a guy out of state. He was pretty worried about a scam and I can't blame him. It would be several weeks before I could get over there and I needed him to hold it. Luckily I have a sister very close to him. I sent her the money and she went over and handed him green cash. Once he had the money, he was very nice about it. He even delivered it to my sister's house for me.
Sounds like a scam. The "bring cash from a friend" is the best solution. This guy isn't out on a boat somewhere and all tied up and his cell phone doesn't work and he cannot take calls over the ship to shore is he?
As long as you the check clears, IE you have the cash in hand
One can have cash in hand and there may still be issues with actual clearance.
Go the money order route and get cash in hand.
so some guy out of state offers to buy an item I have for sale. Wants to pay via cashiers check and is willing for the check to clear before receipt of my item. item will pass to him via a third party. I know, its convoluted and having recently been burned I'm twice leery. your thoughts?
IF you agree - get the check and make a phone call
to the issuing bank and get them to verify it's legit..BTDT, in the car biz....
Bank of Nigeria? I have heard of forged checks that even banks have a hard time detecting for a long time. The cash in hand is often a cortesy from your bank as they already have other funds of yours. Have his friend bring green money, and look it over carefully, like getting one of those special pens, and look up how to detect counterfeit.
Has every hallmark of a SCAM.
-out of town purchaser who will never be seen
-Cashiers checks (are counterfeited daily)
-third party to pick up item
Google these and see how many good folks have seperated from their money AND THEIR ITEM.
Take the check to his bank and cash it.
Geeshh what would you guys do without me??
And whatever you do, DO NOT forward any portion of that check to the third party or to the buyer for any reason. If somethimg like that comes up in conversation, that is a very well known scam, and the check will subsequently bounce even after clearing through the bank via Reg E. I'd also suggest doing your best to check out the buyer to see if there are any obvious inconsistencies. Most scammers will not take the time to cover their tracks very well. If you have any doubts, cash in hand.
Good luck,
Craig
This is a well known scam that defrauds folks of hundreds of millions of dollars every year.
Only use a po money order and cash it at the post office...they counterfeit those too.
Take the check to his bank and cash it.
Geeshh what would you guys do without me??
Exactly. No one will give you a straight answer as to when a check has "cleared".
For $10,000, you can set up a bank in some African countries. So all the codes on the cashier's check jibe with the system. Your bank will cash the check, you hand off the property, and later your bank comes back on you to get their money back.
My son had a mortgage brokerage and a scammer nearly took him with a similar scam.
100% sure it is a scam. Run, do not walk away.
Scam.
A very common one too.
Walk away.
Dave
Tell him you will hold it for your bank to send it for collection. In other words it's held until your bank confirms receipt of the funds. I wouldnt do a gun that way w/o the 3rd party being a ffl or do a item that must b e titled such as a vehicle or boat but general merchandise you should be ok.
confirms my suspicions.thanks all.
His friend is coming to pick it up, tell him to give friend cash! That way you won't have to deal with him anymore! Scam
Cash or no deal. Shouldn't be that complicated or difficult.