Selling MBP, banking advice needed?

Discussion in 'Community Discussion' started by tobefirst, Jan 8, 2015.

  1. tobefirst macrumors 68040

    tobefirst

    Joined:
    Jan 24, 2005
    Location:
    St. Louis, MO
    #1
    I'm hoping to sell my MBP locally via Craigslist. The perspective buyer wants to use the computer for his business and therefore needs paperwork in order to be able to write off the purchase.

    He is suggesting we meet at his bank, where he will write me a check from an account at that bank and I can cash it right there. That way, he will get the cancelled check as proof of his purchase and I can get the cash I want.

    Does anyone see a problem with this? I imagine if we met at my bank, I'd be able to deposit any check he gave me, but my bank would still be able to come back and take money from my account if the check was bad. However, at his bank, they wouldn't have any access to me after I left, would they?

    Is this a safe way of doing the transaction? Is there a better way? Help! (;

    (Mods, I wasn't sure where this would best go. I figured since I'm looking for advice from someone in the banking industry, community might be the best place to find it, but feel free to move it.)
     
  2. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #2
    Actually, his way would be better.

    I say that, because if you cashed the check right then and there at his bank, not only would he have the cancelled check as the proof he needs to write off the purchase, but by you having the cash on hand, would show that the check would also be good.

    The second reason for that would be that you wouldn't have to wait for any hold of the funds until his clears. If there were any hold on it, you would hold onto the MBP until it cleared, and his funds would be in limbo until the hold is released.

    So in short, in going to his bank, you'd be able to:
    • verify his financial institution,
    • verify the legitimacy of the purchaser,
    • get the monies on hand and immediately, and he would
    • get the cancelled check he needs for the write-off.

    I'd call that a win-win on both sides, assuming that this is legitimate (after all, it is Craigslist).

    EDIT: If you are really concerned/paranoid, I would go so far to say to complete the transaction IN THE BANK. If any case of fraud or something happens, both of you would be on camera.

    BL.
     
  3. tobefirst thread starter macrumors 68040

    tobefirst

    Joined:
    Jan 24, 2005
    Location:
    St. Louis, MO
    #3
    Thanks! Definitely wasn't going to accept a check if I had to deposit it at my bank. His plan sounded clear to me, but I wanted to make sure there wasn't something I was missing.

    Anyone else who wants to chime in to agree or disagree, your thoughts are appreciated!
     
  4. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #4
    Have him get a certified check. He'll get a receipt; you'll get your money.
     
  5. luvmymbpr macrumors regular

    luvmymbpr

    Joined:
    Mar 6, 2014
    #5
    Yep this. It makes no sense to cash the check there at his bank. I'd have him meet you at YOUR bank so you can deposit his check immediately. I would also request a copy of his DL to hold until the check cleared (to secure s possible fake check).
     
  6. Mr. Buzzcut macrumors 65816

    Mr. Buzzcut

    Joined:
    Jul 25, 2011
    Location:
    Ohio
    #6
    Just curious...how is any of that better than cash from the bank? Assuming, of course, he isn't walking home or taking public transit.
     
  7. maflynn Moderator

    maflynn

    Staff Member

    Joined:
    May 3, 2009
    Location:
    Boston
    #7
    I'd look for him to cut a check at his bank its better. My then girlfriend (now wife), was selling her boat, a prospective buyer gave her a certified check that looked real, but upon closer inspection (thanks to her sister who's a manager at a bank) it was determined to be a counterfeit.

    I'd say cash in hand, or have him cut a check at his bank.
     
  8. luvmymbpr macrumors regular

    luvmymbpr

    Joined:
    Mar 6, 2014
    #8
    I don't like walking away from a sale with a large sum of cash that the buyer knows is on me. It's a great recipe to be robbed.

    ----------

    Did you call the police? That's a felony, and that person deserves to be arrested and charged for that crap.
     
  9. maflynn Moderator

    maflynn

    Staff Member

    Joined:
    May 3, 2009
    Location:
    Boston
    #9
    Not at the time, and it was too late after the fact, i.e., they're long gone.
     
  10. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #10
    Cash in hand, or have him make the certified check at his bank in front of you.
     

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