1pcarnut

This question involves my Mercedes but I figure it applies to pcars too. I listed the car for sale on craigslist and got a response from an interested buyer. He wants to come see the car this Saturday and something about his language and interest seems just a little off. Maybe he's just a little too eager, not sure but am suspicious. He supposedly uses the same bank as I do, so my question is: is there some way he can scam me using a fake cashier's check if we both use the same bank? I have heard it can take several weeks to find out a cashier's check its fake. Anybody on the board here in banking know how this works?

Here is his first email:

Dear Seller,

I am writing (since it is after 9pm, I want to respect your evening time) in regards to your E350 for sale. I am very interested in your vehicle. I am in the San Jose area and so arranging a test drive and purchase will be a bit tricky. When would be the best time to see the vehicle? If I am satisfied with a test drive, I would want to purchase then. I believe you would want a cashier's check for the 22500 at that time. Can you send the VIN so I can verify the carfax info? I just want to be sure. Please let me know the best time to call you or email back the VIN and the best way to arrange the test drive and your purchase requirements.

Thank you,

Detlef Herbst

2Many Cars

That one smells a bit funny to me too; he's a bit too quick to agree to your price. I could see a scam where he arrives Saturday too late to go with you to the bank and tries to get you to take the check anyway. A possible way to smoke him out is to agree to have him look at the car but state up front that you'll need to get the bank OK otherwise you'll keep the car and deliver it to him. If he starts to lose interest you probably have a scammer.

goofballdeluxe

You cannot get scammed if you insist on a wire transfer of the funds to your bank. Cashier's checks can be fake.

Good luck.

Texas993

Roger,

I am a banker. If you both bank at the same place, you can transact at the branch. Ask to work with the branch manager. At that point the banker can transfer the funds from his account to yours. Instant and no way to reverse it. Plus, you are in a public place with a witness to the sale.

In fact, I would meet him for a test drive at a similar public place.

You never know, it could be totally legit.

Post back your results.

Texas993

Oh, and Cashiers Checks from major banks are hard to stop payment on. If you don't bank a the same place, go to his bank with him to get the cashier's check and witness the check's production.

Deposit it immediately in your bank.

(counterfeit cashiers checks are likely easy to print.)

AOW162435

Smells like rotten carp.


Andreas

1pcarnut

PJ and guys, thank you, that makes me feel better. Could this guy open a new account with a fake check and scam both me and the bank by writing checks before the bank learns of it?

Slow Guy

I doubt they would let him do that, they would put a hold on those funds before issuing a Bank Draft on the account.

Get the Bank Check info from the draft he is planning on using (fax a copy of it to you), he would also need to include the teller's name at the branch and verify by calling the branch during regular bank hours, (I've done this before on both the buy and sell side).

Warpig

I'm no banker but my guess is a bank will not cut him a cashiers check against his account until any money he deposit's to cover it (in any manner of deposit) clears.
Total account balance vs available account balance.

Like they said above... best bet is a wire transfer, or go to the bank with him and do the transaction.

I was working with a PO on buying a 964 (deal fell through & I ended up with the 993 ) because he was a private seller we had agreed to go to my bank branch in his town in the 964 & I would withdraw the funds and either give him cash at the bank or have a cashiers check cut at that time with him present and at that time he would sign over the title before we left the bank lobby. Then I would drive him home in my new 964. We had a good rapport with each other and I even trusted him and he seemed to trust me. We came up with this idea together because it was comfortable for both and made sense. The car was beautiful and I almost bough it. Deal fell through because the car had an AC problem and the PO wanted to sell it without diagnosing the specific problem with the AC. I told him I wanted a $1500-$1800 discount on the car with an "unknown" AC problem and he said "no" He just wants to sell it at his price with the AC broken and not invest the funds to have it diagnosed. I walked.

Nick

mada1

just google cashiers check fraud and read away.
do a wire transfer.

1pcarnut

If this goes through, the plan is to do as Nick (Warpig) had detailed. We will go to the bank, transfer funds between our two accounts and I will then sign over the title. I'll let you guys know how it worked out. Since we both have the same bank, I'm thinking I should be pretty safe. Just worried the bank can come back and take the funds for some reason I've not considered. Guess we'll see.

Warpig

If he's willing to go to the bank with you and be recorded on bank CCTV during the transaction he's most likely on the up and up. There is nothing about doing the transaction (if it's legit) at the bank branch of which you are both customers should alarm either of you. It just should seem like a common ground for you both to gain some comfort. IMO

Nick

polaris 993 sport

Wire transfer only-and have your bank verify his account is real-then wire transfer anyway-if he has nothing to hide he won't mind-it's as simple as that---

95 NC 993

Retired law enforcement here. Yes there are fake cashiers checks. I always remember one poor couple that lost their Corvette. I never did find it and it probably left the country. It was a fairly decent fake check even back in the early 90's when I worked that particular case. Today the fakes must be really good. In the past you could look under a magnifier at the bank check signature line. It has 'micro printing' which was extremely difficult to copy. Today? I'm not so sure with such fine technology improvements. Never accept anything on a weekend, or if you must, do NOT release the title or vehicle. Lots of good advice posted here. Bank transactions in person or legitimate wire transfers are always the best. Be careful. By the way, I also don't like the tone of that e/mail at face value.

red89

Go to your bank with him to get the check.