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Do you take personal checks???

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Mike

01-04-2004 20:17:26

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I had a $10000 tractor advertised,a man called
asked several questions,said he was going to
drive up to take a look at it.He liked the tractor and was going to wright a personal
check.I told him I wanted a certified check or
he could wait 2 weeks for the check to clear.
He was from 3 states away and wanted me to call
some of his neighbors to vouch for him.I told him that didn't guaranty his check.I felt bad
and he left very mad,but I thought he should
have asked about the money on the phone.He probably was alright,but how was I to know.
Is there a better way to handel this?

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jimbo

01-06-2004 19:29:17

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I bought a tractor about 2 years ago and give the guy A 3000 dollar personal check.My check was good but if it had been cold then it would been as good as the tractor I got.

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NCtim

01-06-2004 13:52:54

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I take cash or cash. I've had a $6500 cashiers check bounce. Turned out the bank had not transfered the funds to the account it was drawn on, but it was still a learning experience. Before that I didn't think a cashiers check could bounce. Now I know, a check's a check, some are rubber, some are gold.

I think you did the right thing.

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John

01-06-2004 20:00:41

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Re: Re: Do you take personal checks??? in reply to NCtim, 01-06-2004 13:52:54

Heck no ,I always ask for cash.Checks can be a big pain.I tell em to bring cash or don't come.You work hard for your money,why should you feel guilty?My brother and I did three weeks work for a guy,the guy wrote him out an 8000 dollar check.We drove home 21/2 hours,the guy failed to sign the check(no accident)We couldn't cash the check,boy my brother was ticked off.Taught me a lesson,cash good,checks bad.

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Nolan

01-06-2004 06:48:58

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

No way, no how, would I take a $10k personal check for a tractor I'm selling to a guy several states away.

The guy was either an idiot or scamming. No one goes around trying to use personal checks in that amount on a personal transaction. They ask, they use a money order, or they use cash. They don't simply show up with a check book.

If he was really interested in the tractor, he would have gone to a nearby bank and cashed a check for you on the spot. It's not hard to do. Since he didn't want to do that... it sounds like a scam to me.

Don't fall for cashiers checks btw. They are no safer then a personal check. Less so in fact. Cash or money order are the two safest things to have in your palm.

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Farmered

01-06-2004 05:04:26

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Years ago I knew a local who was glad to write out a check for any amount, anytime, for anything.
He gave his bank instructions not to honor any check that he did'nt sign with his middle initial.
More than one was taken by this sharpie. How do I know all this? He told me so. Ed

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larry h

01-05-2004 17:14:20

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

i always take personal checks i figure if the man wont accept it he has something to hide about the purchase and i leave, a man learns not to trust people at his own houise 1st

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01-05-2004 16:24:21

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

On the other hand I was the buyer a few years ago. Worked the deal and the seller said a personal check would be ok. Went to the bank and deposited the money. Picked up the tractor a couple of days later and paid him. A week later he called me up and said the check had been returned for insufficient funds. I went to the bank and they said my account had been closed a couple of months earlier from not being used for a certain amount of time. I showed them the deposit slip and asked how I could have made a deposit into an account that was closed. The bank manager called the guy, appoligized and wired the money including fees for the returned check.

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BigART

01-05-2004 15:08:22

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I've got a story from the 'other side'----in the late 70's/early 80's I bought a 90 06 Deutz, sight unseen from an amish farmer (deutz used for irrigation system). I got connected from a dealer at the nfms in Louisville, near my home, and I mailed a PCA check for $5000 to the farmer, and told him I'd be up in a couple of weeks to pick it up---I arrived two weeks later, in Northern Michigan, with a friend in a roll back, and was met by a wife and 4 pre-school stair steps who didn't know where he husband was, and did not know anything about the check being received. I thought we had gotten to see the northern mid-west for nothing----but I offered to give her a second check, a personal one, for $5000.00, in case the other had gotten lost, and she agreed to let me take the tractor. My PCA check cleared and I never heard from the farmer or the second check. It was a pretty good tractor though!!!

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kyhayman

01-05-2004 15:04:16

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I always have taken a personal check. Not sure if I would for that amount out of state. Maybe, maybe not. In state no problem. I'd probably want a letter of credit but I would state that up front. Usually when I go buying out of state I take cash, plain and simple. As far as reporting it to the Feds, just have to make several small deposits. One thing for sure, I always get a receipt with the serial number of the machine on it. Just went to Tennesse to get 2 tractors I bought online. Guess had made a big spiel about wanting cashiers checks until I offered to pay cash. When buying from a dealer out of state I like to use credit card company checks, get to use the companies money for a month.

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42FarmallH

01-05-2004 14:34:27

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Sold a WD-9 once to a person several states away. Told him he could pay when it was picked up - no problem, right? He had talked to a couple people about hauling it, but never closed a deal on hauling. Anyways, I'm gone one day and a trucker shows up wanting to load the tractor so Dad loads it up and off it goes. I see the tractor go by while I'm running errands in town!! I don't have the money for it yet and it's gone, not good.

Called the guy up, he sent a check (don't remember whether it was certified or not, but it all worked out). Moral is, be careful who you tell you want a tractor hauled.

I like cashier's checks, certified checks, cash, or money orders. Money is received before the product moves. You did the right thing. $10,000 is a lot of dough to eat.

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Terry Nelson

01-05-2004 11:28:36

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Mike, I made a couple of purchases, large and small, using personal checks. Where there were concerns expressed, I suggested that the seller wait until my checks cleared before he sent the goods. I feel it's necessary, sometimes, to reassure others that there are still some honest folks around.

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marlowe

01-05-2004 11:21:07

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

i have been in business 34 years and have taken checks from just all kinds and have gotten burned 1 time yes only one and that guy died on me before i could go after him. i just ask for there acc. no. and call there bank if they don't give it to me then they call and give there bank the info. then i ask is they have the funds. if they don't have the funds they will not make the call

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Red

01-05-2004 11:14:39

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

When My dad tool me with him years ago to but he would always ask, "Is a check ok?" Because it is the sellers right to accept or not. That is the way I've always approached a purchase and it would be nice if others did too. After all you are the one assuming the risk.

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Mike M

01-05-2004 09:38:43

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Don't even take cashiers checks !! Read the warnings on this site and others about counterfiet cashiers checks,after a week or two if they don't clear it comes back on YOU !

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ShepFL

01-05-2004 08:01:34

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I have yet to sell much of my stuff except for locally. Some of the rigs I have acquired I always asked conditions up front. I would not drive 3 states away without knowing the particulars.

When in doubt I take cash. I have been surprised though that some folks don't want cash but a cashiers check.

I would not be to upset, conditions should have been mutually approved up front and if he had any questions he should have asked before heading out to your place.

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Alvin n Ms.a

01-05-2004 07:41:42

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Once he leaves your premeses it would be hard to get it back, without pulling a shotgun, which would land you in jail, and the lawyers would get the 10k plus more. You just saved yourself from having to drive across 3 states about a dozen times and a lot of frustration. alvinnms

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Don LC

01-05-2004 07:12:50

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I think you handled it just fine..... .he knew that could be a problem when he left home...he could have brought a cashiers check from his bank...if it is not cashed he can return it for full refund.....

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Farmall Don

01-05-2004 06:55:23

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Last summer I sold a piece of equipment and even delivered it to the buyers farm. A week later the check bounced and I got a $15.00 charge. I eventually got the money, but I had to hound the person (which was only a few miles away) until I got it. Now its cash!

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Rick

01-05-2004 06:27:32

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Here is my policy when selling. Cash up to 500.00 everything else cashiers check or Postal money order. When buying always call sellers bank for clear title. Period

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Bob

01-05-2004 05:30:50

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I sold some engines for quite a sizeable amount to a guy from some distance away (but within the state). I had heard of him previously, and he seemed to have a good reputation. AFTER he left with the engines, I decided to call his bank, and verify funds because I intended to deposit the check and needed to use the funds ASAP. The bank phone number on the check was disconnected, and directory assistance had no information. In desparation, I called the Postmaster in that town. I was told that bank had been bought out by a bank in another town. I called the other bank and was told "yes, we honor the checks from Bank "X" we purchased, and, yes, Mr. "Smith" is as good as gold. The check went through with no problems, but my heart rate sure went up for a while!

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Steve Mahler

01-05-2004 05:13:41

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I WAS in that position once, took a check for $6200 - boy did I breathe better when the check cleared. Never again. When I give directions to people to come look at my tractor, I tell them two things (in a nice way)

1) I wont hold a tractor unless I get 10% cash
2) Cash or bank check only

I have been burned on both counts, never again. When I am buying, especially long distance (it always is!) I clear all these details up ahead of time.

You were dealing with a rookie who doesnt know the rules :)

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Rauville

01-05-2004 05:09:56

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

If there is a common thread amoung the replies concerning this; it is one of mistrust. Today nobody trusts anybody. I've had a business since 1978 that deals with the public on a daily basis , and if I didn't take personal checks from strangers, I wouldn't be in business. Granted, the majority of checks are not in the 10K range, but in the last 25 years, I've had 1 bad check (which was made good years later). Even selling on eBay, I've always taken personal checks, and shipped goods upon receipt of payment. Other than 1 unsigned check that I returned, I've never had a problem. Our business and personal affairs at one time were built on a basis of trust. Today that has changed 180 degrees. Not only do we not trust anyone else, but we start questioning our own decisions...we hardly trust ourselves anymore!

In your case, I would feel that both you and your potential customer needed to clarify the terms and condition of the transaction. If you were not accepting personal checks, that should have been made clear in your ad, and phone conversation; and if the customer wanted to give one, he should have asked beforehand. But after all, he was trusting that you had a tractor in the condition you stated, maybe a little trust on your part would have helped as well. Just my humble opinions...have a good year!

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Mark in AB

01-05-2004 08:56:15

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Re: Re: Do you take personal checks??? in reply to Rauville, 01-05-2004 05:09:56

I think $10000US dollars is more than just a "little" trust. Even if a neighbor was doing the buying. One fellow on this forum told his story of lending his buddy money to save his house from foreclosure, buddy ended up suing him for harassment. What a joke. But scary thing is crap like that happens everyday. I know their are millions of good honest people out there, but when your dealing with large sums of money, i would say over $500, you can't really trust anyone these days unless you are fully prepared to lose the money or fight to get it. Unless someone is living a really sheltered life, they know personal checks are no good. Multibillion dollar grocery stores can't afford to lose money from personal checks so why would any normal person?

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VADAVE

01-05-2004 04:58:22

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Mike all these guys with all this advice (except Wayne) haven't done it.
If you take cash you will have an problem at the bank when you deposit it as the Feds require reporting cash tranactions of 10K or more. War on drugs.
Personnally when I go to look at a tractor I don't take a certified check. Why spend money to get a certified check when you don't know the amount of the check or if you will even buy the tractor? I also don't take a trailer to haul it with either. So waiting is not an issue.
Wayne is right--if he wants it RIGHT NOW go to the bank a transfer the money.

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Brent

01-05-2004 04:57:54

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

we took a 1500.00 check like that two years ago, and it turned out to be a computer fake, lost the money and the tractor, because all the info the man told us was false. SELLER BEWARE In OHIO.

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Don LC

01-05-2004 07:21:39

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Re: Re: Do you take personal checks??? in reply to Brent, 01-05-2004 04:57:54

What does OHIO have to do with it???

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Jerry

01-05-2004 04:36:52

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

Sounds like you saved your self from needing to drive 3 states to get back a tractor that wouldn't be there anyway. This country is full of crooks.

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KURT

01-05-2004 01:58:45

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

A personal check is useless, to a regular guy like me or you. If the guy has $10K then he can either pay cash, or pay $5 and get a certified check.

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01-05-2004 00:57:23

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

he should have brought you cash. he knew better. you did the right thing. i would have done the same.

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BONE

01-05-2004 00:38:38

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

if he had credit card , he could have transferred his money throught credit card at your bank.. that would be the easy way to do that.. since the credit card company would be billing this debt to him .. and you would have 10k in your account..dont feel bad.. its good thing you didnt take personal check..who knows what happen!?

SBONE

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Bob

01-05-2004 05:22:37

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Re: Re: Do you take personal checks??? in reply to BONE, 01-05-2004 00:38:38

And then he could have disputed the charge with his credit card company and left you holding the bag!

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rhudson, he knew better

01-04-2004 22:42:05

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

sounds real fishy

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Mark in AB

01-04-2004 22:06:05

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

I agree with Wayne, if it was a weekday you could have gone to your bank and wire transfered the money. But even if it was a weekend, he drove from 3 states away... get a hotel room and wait till monday morning. Sounds kinda fishy to me. I wouldn't even take a personal check from a stranger for a $1000 tractor, unless I was planning on giving the tractor away anyway. Don't feel bad you did the right thing.

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Wayne

01-04-2004 20:48:41

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

If it was on a weekday you could have taken the check and while he was there called either his or your bank and had them verify the funds were available in his account. Unless he was there with a trailer wanting to take the machine with him you would have had plenty of time to have taken the check to your bank before the machine was picked up and gotten the money transfered to your account. Even if he wanted the machine that day he could have gone to the bank with you and gotten it taken care of with a bank transfer or something. The only thing about doing it by check, or any other document like this is the amount. The bank is required by law to report any transaction of $10,000 or more to the IRS, so you would have to had them to contend with at tax time over the sale. Too most banks only make a part of any deposited check over a certain amount available right away, and then release the rest funds a little bit at a time til it's all covered, in my experience, wether it's a certified check or not. Like you said the guy may have been perfectly OK, but if he couldn't understand your need to cover your own a$$ in the deal then he doesn't sound like the kind of person I would want to deal with anyway. Personally I wouldn't feel bad at all if I were you. A truely honest man would understood and have been more than willing to do whatever was needed, if in fact he really wanted your tractor. Just my .02

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Road Warrior

01-04-2004 20:39:46

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Re: Do you take personal checks??? in reply to Mike, 01-04-2004 20:17:26

You did the right thing. He should have asked before driving 3 states. If you had taken the check and it was no good, you would have had a hard time collecting on it.

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Alvin n Ms.

01-04-2004 21:09:34

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Re: Re: Do you take personal checks??? in reply to Road Warrior, 01-04-2004 20:39:46

Don't even take cash money from a guy like that, without checking to see if its conterfit. alvinnms

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