tfm

Gentleman,
I'm selling one of my cars. An anonymous buyer contacted me via Autotrader.com, texted that he wanted to buy the car and sent me a bank check for $7000 more than my asking price; he texted up front that "his wife" had made a mistake in the amount. He asked me to return the difference ...but only after his check cleared my checking account. My bank branch says the check "looks good" and that it would take at least two banking days to clear intro my account. If this check does clear and I then transfer overnight the funds into my brokerage account can these funds be recovered or taken back at any future point? The name he finally gave me doesn't show up in a Been Verified check, not the phone number either. Your thoughts?
Thanks

Dragonbaby2k

I wouldn't. Don't over complicate the matter. Send the check back and ask for a brand new check. If no reply or no new check then move on. Make sure routing numbers are legit, the bank is legit, etc. GOOD LUCK.

wdb

Smells funny. Very funny.

Scb1712

Definitely sounds like a scam to me.

othertbone

Of course this. Come on brother?

porsche.earth

This is a type of overpayment scam, where the scammer sends a victim a check or money order for more than the agreed-upon amount. They then ask the victim to cash the check and send them the extra money. The check is usually fake, and the victim will be out the money they sent to the scammer. Don't walk away, run away from this buyer.

Here's how the scam usually works:

• The scammer contacts the victim, usually through an online classified ad or auction site.
• The scammer expresses interest in buying the item the victim is selling.
• The scammer sends a check or money order for more than the agreed-upon amount.
• The scammer asks the victim to cash the check and send them the extra money.
• The victim cashes the check and sends the extra money to the scammer.
• The check eventually bounces, and the victim is out the money they sent to the scammer.

Here are some tips to avoid overpayment scams:

• Only accept payment from trusted sources.
• Never cash a check or money order from someone you don't know.
• If you do cash a check or money order from someone you don't know, wait a few days to make sure the check clears before sending any money back.
• Be wary of any requests to send money to a third party.
• If you think you've been the victim of an overpayment scam, report it to your bank and the police.

It's crucial to remain vigilant when conducting online transactions, as scammers are constantly finding new ways to exploit unsuspecting victims. When selling items online, be cautious of buyers who insist on using unusual or unconventional payment methods. Additionally, trust your instincts; if something seems too good to be true or raises red flags, it's better to walk away from the transaction. Educating yourself about common scams and staying up-to-date with the latest fraud schemes can help you spot warning signs and protect yourself from potential scammers.

jason95R

Also, just because the check "clears your account" doesn't mean the check is good. Usually a check drawn on an out of state bank becomes "available" to you to withdraw or transfer or do what you please with in 2 business days. (in state banks are usually overnight availabity) But the money is basically fronted by your bank until the check actually clears the issuing bank and is received by yours. This can take 10 days or more. In that time the person who sent you the check can cancel it or it was fake all together and it bounces. You are now on the hook for that money you sent back to the buyer. That's how the scam works and that's what this is. Run away and stop communitcating with that buyer.

Discolure: I work for a bank

JC Lacayo

Anybody who you would do business with isn't going to make a mistake with the money they send. Pretty sure all of us here, check, double check, triple check when we deal with money, especially in the thousands.

tfm

Thanks for your input gentlemen. Turns out the check was bogus. Please, just be aware of those here on Rennlist that seek to steal your money.

leftlane

Of course it was - that’s a super common scam.

thomaslane.ny

<!--td {border: 1px solid #cccccc;}br {mso-data-placement:same-cell;}-->Washington State Auto Restorer (Defenders Northwest LLC. and its owners Brian Hall & Michele Hall) Sued For Fraud.
https://pledgetimes.com/washington-s...ued-for-fraud/

Snipe10

Make sure to alert the authorities as well

h!4tg3)9FG

It's essential to prioritize your safety and financial security in any transaction. Always exercise caution and skepticism when dealing with unfamiliar buyers and large checks.

h!4tg3)9FG

These are good tips, and each of us needs to know them.

Atheist

Yes this is a very well known scam. I was selling a BMW on Craig's List and a guy offered to buy the car and said he would send a cashiers check. He sent a check for 2000 over the price of the car. He told me he arranged the over payment as he was having a delivery service pick up the car to transport it to him across the country. He asked that I cash the check and then pay the transportation driver the $2000 directly in cash to cover the transport. The check was bogus of course and I just tore it up. The back would gladly cash it as I had plenty to cover it in my accounts but these scammers thought they could pick up the car and the extra $2K in cash for transportation. Not only trying to steal the car but also get some cash while they are at it. Eventually the check would bounce (it was actually part of some blank checks stolen from a Christian University) and my accounts would have been debited. Sellers BEWARE.