Before anyone get too hard on Tim: Have you ever accepted a cashiers check, bank check, money order, etc when selling a car or boat?
I've been seeing some news stories around here about people buying cars with bad cashiers checks. Then they resell them, fast.
Sometimes they get the car back, sometimes not. Only difference is that the thieves are more likely to get caught around here.
Gary

Ditto,

I am sure you feel like an idiot for falling for this, but don't sweat it, it could have happened to alot of us. I am extrememly cautious in financial dealings, but I can see how it may have happened for you, we all have a 1,000,000 things on our mind, and selling props is usually at the bottom of that list. Gary is right, we all have taken lots of checks from parts unknown. It is not a matter of who woulda done what, but it happened.

Thanks for passing in the warning and GOOD LUCK!

Your right, it's easy to read this and say that was kind of foolish, but he did go to his bank and ask if it was a good check and they said yes, so up to that point it looked ok. Personally i would never use western union but that's my preference and now with all of the scams you can't trust cashiers checks either. I'm asuming if it wasn't for the bank saying the check was ok you probably would not have been scammed, that would piss me off more than anything.

If you are selling an item and don't want to get ripped off with a bad cashier's check, what is the best solution? Wire transfer?

I should have added because you made a KEY statement. If anyone asks for return funds by Western Union, do not walk, RUN away from the transaction.

My only consolation to you is your one of hundreds of thousands of people taken by this. And you got off cheap. Locally we have seen individuals lose over $30,000 of their life savings to scams like this and fake over seas lottery winnings. I think the national record was set a few months ago in Florida where a guy lost $250,000. Many people never report it was they are so embarrased that they were taken.

Also the idea of going over is at your own peril to deliver the $$. Some people are not coming back from those trips.

Please read a receint article:

Yes, there's a new twist in Nigeria's thriving Internet-based scam operations. This time, the scammers pose as potential buyers for big-ticket items, like cars, listed for sale online.

The buyer explains that a business associate in the United States will mail the seller a cashier's check for the amount of the item plus the cost to transport it overseas. The seller is asked to wire the transportation fees to the buyer once the check has cleared so the buyer can arrange for shipment.

But a week or so after the check clears and the money has been wired, victims are notified by their banks that the check was counterfeited.

The scam has become so widespread that victims formed their own online support group last month. The group now has close to a hundred members.

Scam victims admit they initially were skeptical when the deal was brokered, but after receiving and depositing a cashier's check that cleared, they assumed all was well.

The scam takes advantage of a little-known loophole in the U.S. banking system. Many people don't realize that when a bank says funds have cleared, it doesn't mean the check is good, according to Carol McKay, director of communications for the National Consumers League.

"Under federal law, depending on the type of checks deposited, banks must give consumers access to the money within one to five days. Longer holds can be placed on deposits over $5,000, but banks are reluctant to inconvenience their customers," McKay explained.

"Unfortunately, it can take weeks for fake checks to be detected in the banking system. And consumers are then left holding the bag for the money they've withdrawn. That's because it's the depositor, not the bank, who is responsible if a check turns out to be bad."

Jeff and Shawn Mosch were victims of the scam, and they figure their bank is just as much at fault as the con artist who ripped them off for $7,200.

Shawn Mosch said she went to the bank with the cashier's check and told the teller, "I need to know when this is going to be a good, clear check -- when this is going to be actual money I can spend and it's never going to come back and bite me in the butt."

She was told her butt would be out of harm's way in 24 hours.

Mosch said she waited an extra day just to make sure, and then wired the money to the buyer. Five days later, the bank informed Mosch the check was counterfeit and her checking account was now $5,000 overdrawn.

McKay said the scam isn't limited to Internet sellers. The Consumers League is starting to hear from people who have also received counterfeit checks in connection with work-at-home offers.

"Banks would serve their customers better by explaining that they can't immediately tell if the checks are good and that the depositors will be stuck if they're not," McKay said. "In general, it's probably a good idea to wait several weeks before drawing on checks from unfamiliar sources.

"But the bottom line is this: No legitimate company will offer to pay you by arranging to send you a check and asking you to wire some of the money back. If that's the pitch, it's a scam."

That's a very easy answer. Wait for the check to clear before sending the merchandise.

Steamin' Rice
Cashiers check, recieved at the buyers bank and cashed there. Dont even let the seller touch the money. I still dont trust wire transfers. I'm probably paranoid, but if they can wire money in, I'm afraid they can wire it out too.
Gary

Damn dude... Sorry to hear that..

That's would be ideal but it's not always practical especially with the Internet and people buying items from around the world. Like von bongo said if they have to send you a check wait for it to clear that's really all you have. If it's a large item like a car or boat keep it insured a few weeks extra just in case something happens. I just sold my snowmobile, they paid with a cashiers check from some credit union that meant nothing to me. Since i'm always skeptical :) i kept his phone number in caller id that he called from several times and when they were leaving i wrote down his license plate number just in case and it was still insured. A little overkill? yeah, but i didn't get screwed.