How to take payment for a big sale?

[gh1950]

Bank cashier check. Call and verify

This is the answer.

Make the closing during banking hours (be aware of the time zones), and call the bank to confirm that the check is legit.

MAKE SURE you obtain the bank ph. number, not some number from the buyer. In fact, I have called the issuing bank twice at different numbers to see to double check.

Personally, though, I would do a wire transfer.

 

[gh1950]

I got burned once a while ago I had a car for 3k guy gave me a CERTIFIED Check deposited it in my bank , 2 days later my bank called me and said he had stopped payment on the check , When I got back to him ( he lived in the neighboring state ) he said he felt he paid too much for it and said he would only pay now 2K , and since he had registered it in his state it was a mess. Never again Cash at a bank on anything over 1K

You either didn't have a certified check, or he flied a false affidavit with the bank, which is a crime.

A certified check is drawn on the bank, and the purchaser can't stop payment on it. if it was truly a certified check, you would have a direct claim against the bank.