When selling high dollar items

[SHRED]

I plan on selling a boat for hopefully $6900.

Never have sold anything for that much.
Do I take cash only?
Check or cashier's check, wait until the bank clears, then call them to pick it up?

What to do?

[Scuba]

1. Cash or cashiers check. n/t

[SHRED]

3. Can't cashiers checks be forged?

Am I being paranoid?

[Scuba]

5. Cash can be counterfeited too, just a a cashiers check....

... but a real one is going to have watermarks and other "proofs" that should make you pretty confident. I've never had a problem, but my data sample is very small.

[pitohui]

7. counterfeit cash is rare, counterfeit cashier's checks common

at the end of the day if the cashier's check was real, that individual could have just as well gone to the bank themselves to get the cash to pay you for the boat

i and many others sell large items frequently thru craigslist and this is a known problem there (fraudulent/fake cashier's checks)

[SHRED]

9. thanks...

...do you use one of those anti-counterfeit pens to check the 100 dollar bills?


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[Scuba]

10. Thanks. I learned something today!

[bluesbassman]

2. Cash is preferred.

A cashier's check would be second, only if you know the bank, AND the check was made out by the bank to you personally.

I would only take a personal check if it was a neighbor or other person I was connected to. A stranger, no way.

[HopeHoops]

4. You can take a check on condition that it has to clear first.

Chain lock the boat (and/or trailer) to something solid like a tree or fence. Make sure the check is from a local bank and that it clears. Then take off the lock and call the buyer. If they aren't willing to go with those terms, demand cash.

[pitohui]

6. cash only, checks "clear" when they are not really cleared

with hi dollar items there has been HUGE cashier's check fraud, keep in mind, the bank may tell you a check has cleared after 2-3 days but they can still come back later (3 weeks or more) and inform you that the check is counterfeit and they CAN and DO take the money for counterfeit checks out of your account PLUS an additional fee to you for having accepted the counterfeit check

if the individual is willing to wait a full month to pick up the item i guess you could take a check

me, if a person is buying a car or boat, they can pay cash, there are plenty of other people (dealers) who do have cash and understand that vehicle purchase is a CASH transaction so i don't waste my time w. those who want to make payments or use checks, if their check is so good, why don't THEY go to THEIR OWN BANK and cash it right now?

[MrsBrady]

8. cash n/t

[Bucky]

11. take it in trade - barter economy has no sales tax

and hookers would benefit from learning how to sail

[Curmudgeoness]

12. You can't get out of sales taxes on a boat sale

since you have to have a registration on it. They will catch it when that is done. And you do not want to NOT change the registration and have someone else with the boat.