Paying with a cashiers check? Need advice!


So I have a deal set up for a new to me pre here on Audiogon. The issue is the seller only wants to excepts a certified bank check. I have never paid this way before and I am a bit nervous. He says all the right things almost to much honestly. He does on the other hand have fifty some positive reviews and I talked to him on the phone as well. Which is when I got a bit more suspicious after he offered me a deal on a disk player at below half market value. He seems genuinely nice but I’m sure the best scammers do. Is there any way to get extra insurance that everything is legit? And would you guys be ok with it being he has 50 positive reviews over nearly 20 year span?  Looking forward to people thought. And thanks. 
brylandgoodman

Showing 1 response by billzame

I followed the link in tvad's post.  The seller says this "Certified bank check only. Pick up cash only and save shipping costs from Lambertville, MI. Will also meet up to 50 miles for a safe transfer."  (I don't see anything about Escrow.com but perhaps tvad saw more than I do.)  When you agreed to the sale I think you agreed to the terms.  If you are uncomfortable with the terms now the first thing you should do is ask Audiogon: What will Audiogon do if you back out?  What will Audiogon do if the item never appears or doesn't work properly? 

I would _never_ buy an item online with a cashier's check. The service PayPal provides is not just transferring money; it is providing some insurance to the buyer: if the item never arrives the buyer can file a claim with PayPal.  The seller may think PalPal is a nuisance - because it is a nuisance for the buyer - but it is not a nuisance for the seller.

BTW: A cashier' check and a certified check are not quite the same thing.  For a cashier's check you give the bank the money and they write a check from _their_ account.  Fora certified check, you write a check on your account and the bank sequesters the amount from your account but doesn't take it out until the check is cashed.