Be careful buying or selling large items

http://www.msn.com/en-us/autos/news/warning-auto-sales-scam-taking-place-on-craigslist-says-nicb/ar-BBjs3h8

A cashiers check may not be good. Folks get a cashiers check payable to themselves.....sign it......scan it at Chase for deposit......go to a closing or go to where they want to pay for the car.....hand the check over with an endorsement of pay to the order of John Doe the seller......two days later the buyer withdraws the funds in cash and disappears.....four or five days later the check comes back as bad. I have heard of title companies a week later getting burned. The other scam is emailed wire instructions.....email accounts are hacked......they search emails for wire instructions......send an email saying the buyer has a new set of wire instructions for the title company.......wire the funds to the bad guys the night before.....folks sitting around the table waiting for funding when the title company never gets the funds.....bad guys withdraw wired funds.......it is a nightmare for simple business transactions.

2seaoat wrote:http://www.msn.com/en-us/autos/news/warning-auto-sales-scam-taking-place-on-craigslist-says-nicb/ar-BBjs3h8

A cashiers check may not be good.  Folks get a cashiers check payable to themselves.....sign it......scan it at Chase for deposit......go to a closing or go to where they want to pay for the car.....hand the check over with an endorsement of pay to the order of John Doe the seller......two days later the buyer withdraws the funds in cash and disappears.....four or five days later the check comes back as bad.  I have heard of title companies a week later getting burned.   The other scam is emailed wire instructions.....email accounts are hacked......they search emails for wire instructions......send an email saying the buyer has a new set of wire instructions for the title company.......wire the funds to the bad guys the night before.....folks sitting around the table waiting for funding when the title company never gets the funds.....bad guys withdraw wired funds.......it is a nightmare for simple business transactions.

Easy to happen in person to person car, boat or motorcycle sales.

Title companies demand a certified or cashiers check be made out to them and them only. they will not accept a third party check. If funds are to be wired, the will not disburse funds until the money is verified as being in their account. They also require photo ID of buyers and sellers. Hard as it is to believe, people will put property up for sale, or rent in recent years, that they do not own.

most title companies are no longer accepting cashier’s checks for immediate disbursement at closings due to the significant increase in fraudulent cashier’s checks.

Got to catch up Mr. Markle.

http://www.floridabar.org/DIVCOM/JN/jnnews01.nsf/8c9f13012b96736985256aa900624829/3ef03dc1f1388c35852577c400694f4d!OpenDocument