Selling used, acceptable payment form? More info added

[HoosierDaddy]

More info added,, I have more time now at lunch..
Edit:

I talked to my bank, they said they literally google the other bank, call them, read off the check info and the other bank verifies it is golden.

Buyer is flying from 7 hours away to me, is arranging local mechanic inspection here on his dime but my time (I'll need to take it to mechanic).
Is coming with his Mom because he is 17, I will only sell to her. Minors cannot enter in contracts, such as buying a car.

Intends to get Cashiers check Sat morning.
Send me a picture of it.
I can call, or my bank can call and verify.
He can fly down Sunday and make the deal.

It's a rare car, so folks who know what they're looking at will have to fly to find one.

Original post:
Seems like over 10k is a bit much to carry around in cash.
What's everyone's comfort level with Cashiers checks, verified thru a phone call to the issuing bank?
Buyer uses US Bank, which does not have a branch near me.
Thoughts , options?

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[BEM-S4]

If you want to make your life very easy, assuming you have a dealer friend you can do a "pass through" deal for about $100. I've done it in the context of getting a new car then selling my old one privately, but maybe your Ford dealer would help you out as part of getting the new Bronco. They handle all the paperwork and $ side of it, you just pay for an hour of shop time for what amounts to a state inspection. They technically own the car for a brief moment before your buyer takes possession - so if the brakes are shot or something he can go after them (not you).

For me that's always been the lowest risk (and headache) way to transact a used vehicle... but I have no idea of that's a typical service or if I am just lucky or spoiled.

 

[Joker]

Meet him at your bank and deposit the cashiers check and then sign the title over to him.

 

[Mustard]

As long as the cashier's check is made out to you, then everything is good. In order to get a cashier's check, the buyer has to provide that money to the bank; the bank then issues the cashier's check (basically, the buyer has purchased the cashier's check, the bank holds the money and the issuing bank pays you when you cash/deposit the check). It has been quite a few years since I used a cashier's check, so I would call your bank and ask them to make sure nothing has changed.

 

[Drunken Wisdom (END)]

Meet him at your bank and deposit the cashiers check and then sign the title over to him.

I would go for.... meet the other person @ their bank and get a cashier's check. Do it at your own bank and it could still be fake.

Luckily for me, any vehicle I've sold private party was always old, never over $2k, so cash it must be!

 

[Rayder]

A verified cashiers check is generally pretty golden. I always prefer cash or a wire transfer, but not everyone is comfortable with that, so a cashiers check is the next best thing.

 

[Joker]

I just used a cashiers check the other day to pay a draw on our remodel and it works fine as long as it's real. To be safe I would make sure it goes through at your bank before you sign over the title. Better safe than sorry

 

[Joker]

I would go for.... meet the other person @ their bank and get a cashier's check. Do it at your own bank and it could still be fake.

Luckily for me, any vehicle I've sold private party was always old, never over $2k, so cash it must be!

But OP stated the buyers bank was not an option due to location.

 

[Tricky Dick]

I've accepted an out of state cashier's check for 10k. I was a little apprehensive but it went fine.

 

[Drunken Wisdom (END)]

But OP stated the buyers bank was not an option due to location.

That's what I get for not reading anything. My bad.

Then I go back to CASH!!

Did OP get an email about a rich prince who passed away, need to send millions of dollars to him? Those are always fun.

 

[UNBROKN]

If you go to your bank, someone there can call the other bank and VERIFY the cashiers check to make sure it is real.

 

[Monster79]

That's what I get for not reading anything. My bad.

Then I go back to CASH!!

Did OP get an email about a rich prince who passed away, need to send millions of dollars to him? Those are always fun.

Wait.. Yall haven't sent your money to the Nigerian Prince?....

 

[1975U15]

Just have him give you 1/6th of a bit coin. Whatever the hell that is

 

[R11]

Cashier’s checks are strong, but I think I’d prefer a wire.

 

[Razorback]

As long his name isn't Frank Abagnale Jr...you should be ok...

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