Am I being way over suspicious

[Christopher Laurencio]

So the guy I am buying the boat from asked how I intend on paying , I say Bank check, he asked if I could fax a copy so he knows I'm serious. I do that.



He calls me today, the day before leaving and he tells me the bank told him that I could easily void this check after I take possesion of the boat and he would have not to much recourse with getting paid. I tell him that I am a CPA and that's fraud and illegal for me to do, I would also lose my license. He asked that I bring cash?



He was very sorry but really insited on cash?



Could this be some sort of scam? The state the boat is registered in is non-title, once I hand him the cash and get a bill of sale, what proof do I have that I actually pid for that boat?



What do you all think?

 

[JD Johnson]

Well it's his boat to sell how he wishes but I always use a certified cashers check to protect myseld and the seller and most likely would pass unless I really knew the boat to be a good deal as well as the seller to upstanding. Maybe you could require him to go to the bank with you and get the bill of sale notarized providing he can prove it is his to sell since it is a no title state.

 

[Texas Transplant]

Under no circumstances would I bring CASH to anyone for a purchase of a boat, motor or car.



It's probably not a scam, just someone that is very nervous. After all, he is giving his boat to someone that is going out of state with it. Seems that you could work something out between your bank and his that would suit everyones needs.



I usually use my Credit Union, and the check from them is made out to both buyer and seller.



Tex

 

[Rob LaMoy]

TN right? There is a title to the boat, just not the trailer.

 

[Dennis Ciccaglione]

I would not pay cash for a non-titled vehicle / boat. (no title = no cash) If the seller is worried about the bank check then take a trip to the bank with him & while your there I would have the Bill of Sale notarized. The other thing to check on is a Bank to Bank transfer (most banks charge for this). I would definitely have the Bill of Sale notarized no matter what; this will be your only proof of ownership.



Tell the seller that just as he is being cautious (& you understand why) you need to be also. If he is not willing or doesn't understand I would consider backing away.



Dennis

 

[Alex Peterson]

I'm in MN and just bought my boat this spring from a guy in AR. They only require a title for the trailer, NOT the boat. The boat IS registered with the DNR though and the owner must sign that little DNR registration card and give it to you. I didn't realize that when buying my boat, but quickly found that out when I went to get my new title in MN. Luckily he was a great guy and when I called him about it he realized he forgot to give it to me and sent it the same day.

Anyway....I don't see why this guy wouldn't take a certified check.

 

[William H. (Bill) Barham]

Chris, I agree with Tex and Super and jdj. Maybe he is just being careful but it would worry me.



Bill

 

[Bill McElroy]

Certified cashiers check from a bank!!! It's as good as cash.!!



Tell the seller..."Take the cashiers check or no deal!!!...I'm not going to travel with cash!!"

 

[Carlos Hathcock III]

Agree with Mac. No WAY would I do cash.

 

[Scott Hammer TOXIC]

Yeah but look at who you bought that monkeyboat from!!LOL!!:lol::lol:



TOXIC

 

[Jim in VA]

No - you're not being way over suspicious, but I suspect that, like the others have mentioned, you may have a nervous seller. There are a lot of counterfeit cashier's checks, bank checks, and money orders out there - and some really good ones too. But on the other side, you should NOT pay cash. Best bet is to tell the seller you understand his concern, and will go with him to a bank of his choosing with the check to have the bank call your bank and verify the authenticity. Then have a notarized bill of sale drawn up that both he and you will sign before the bank notary. That's all assuming the boat is what you want!



good luck!

 

[Greg Meyer]

Here's a very safe suggestion for both of you...



1) Ask him to identify his bank... Telephone number and an officer that can handle a wire transfer...



2) Go to your bank... Get them to arrange a wire transfer to you at his bank...



3) At his bank, get a cashier's check payable to him and you and both endorse it... He now has his cash, you have a cancelled check



4) have his bank notarize the bill of sale... And, every state has a registration card, etc for the boat... get that signed over from him to you



All of this may cost you a few $$$$ get him to split the cost and everybody wins...

 

[Christopher Laurencio]

Jeez, now you guys got me real nervous, I was ready to go. North Carolina is not exactly a non-tiltled state, it's an optional state, meaning if you have a lien on the boat or buy it from a dealer you have a title, the trailer does have a title, he is giving me his registration and a notorized bill of sale, the transaction will take place on the weekend, banks are closed in NC on the weekend I guess. Without a notarized bill of sale he would not get the money. Let's put it this way, if for any reason he makes me feel like something's not right I will walk, or drive back to NJ Boatless



I called my bank after he requested cash, he actually told me that he went to the same bank name as the check was drawn on to see if the serial number is valid, "I guess this guy seen one to many Sopranos on HBO", "my name is also Christopher" LOL. In any event the bank told him "so what if the check is good right now!" I could always void it 5 minutes after I take possesion of the boat and BYE-BYE, I would be gone into NJ?.



Whatever Right?



I called my local branch and the lady agreed with him and the other bank, people think a "Bank Check" is like cash, it's not, she said it is not any more secure than a personal check, except that at one time funds were available.



Yikes!



The guy offered to take me on a 8 hour tourney with him on the boat, I just don't know.



I will keep you guys posted.



Wish me luck,

 

[Texas Transplant]

Get a cashiers check. Same as cash, but not cash. I'm assuming that there is not a lein on this boat then - or is it you cannot determine that?



More and more banks here in NC are now open on Saturday. But not all.



The other thing is, you are going to his house, correct? That could tell you alot. Both of you are nervous, probably not a bad sign, for the most part.



Tex

 

[TrepMan]

Chris - Don't know if you saw my note on the chat board, but there is a LOT of scams going on with FAKE cashiers checks! The Bank takes them and 3 days after you take it to the bank, the bank finds out its BOGUS! So he may be just being cautious. Can't go wrong with Cash, but i would be a bit worried carrying it and HIM knowing you have it. It can be 1 of 2 things:



1. He's super cautious, read about the cashiers check scam, and is a great guy just wanting to get his $.



2. He's looking to rob, rape and kill you for your $. Hopefuly not ;-)

 

[Larry Harp]

2. He's looking to rob, rape and kill you for your $. Hopefuly not ;-)

Maybe not....but he could have a stolen boat or at the very least a boat with a bank lein against it. If I were Chris, doing business out of state, I would make sure of every detail and do business only through a bank.



Here in Oklahoma (I don't know about other states) we use a device called a "bank draft" which looks like a check printed on an envlope. The issuing bank will only transfer funds when there's a lein free tittle or a tittle with a lein release. Just keeps honest people honest....of course a thief will always find an angle.



Harpo

 

[william Clark]

Be sure to water test the boat.