I'm in MI and the private party seller is in TX - seller is uncomfortable accepting a cashiers check b/c of possibility of forgery or 'stop payment' once it changes hands;
buyer is uncomfortable carrying $$$$$ cash onto an airplane. There are no branch offices of my local bank in TX. so what is the safest way for both the buyer & seller?
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| Reply » need help w/ long distance car transaction |
I'm just brainstorming off the top of my head -- somebody might have a better idea than I.
1. Bring a cashier's check payable to yourself, and convert that to cash at his bank?
2. Find a lawyer local to him that can write you up a quick bill-of-sale and watch you both sign it and have it notarized in his office?
3. Make it a vacation and wait in TX until the check clears?
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| Reply » need help w/ long distance car transaction |
Whatever you do, DO NOT pay with Western Union money transfer or such. That have been the choice method of payments for con artists.
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| Reply » need help w/ long distance car transaction |
Agreed, do not pay anything with Western Union.
Rowag's options sound very good.
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| Reply » need help w/ long distance car transaction |
There is always escrow services. Or you could always meet 1/2 way...
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| Reply » need help w/ long distance car transaction |
1. The buyer can call and verify your bank to make sure that the funds are legit. Cashier's check can not be typically cancelled unless you declared them as lost.
2. You can ask your bank to wire funds to his bank account. Most banks will do that for a small fee. Of course you need to make sure that you have a contract in hand which clearly states the purpose of the wire transfer.
I find it a bit shady that the seller will not accept a cashier's check.
Alternatively you could also find someone local who trusts you to help facilitate the transaction (you give your friend a cashier's check and then get the cash from his bank).
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need help w/ long distance car transaction