Buyer wants me to fax a copy of the check... | FerrariChat

Buyer wants me to fax a copy of the check...

Discussion in 'Ferrari Discussion (not model specific)' started by LSU348, Jan 5, 2004.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. LSU348

    LSU348 Formula 3

    Dec 19, 2003
    1,047
    Sugar Land
    Full Name:
    Mike
    Hey guys,

    Will take delivery of my Ferrari this Thursday. The owner asked me to fax him a copy of the check. Does this sound strange to you? I figure he just wants to make sure I can pony upon my end before he trailers the car and drives it down here on other business.

    Only fishy thing I could see happen is a quick deposit by the buyer if I did not black out the routing and account numbers. Check will be from my bank.

    Anyone every had this request?

    -Mike

    GEAUX TIGERS


    (Geaux = "Go" for all you non cajuns)

    Used in a sentence: Geaux fetch the ball Fideaux.
     
  2. jimpo1

    jimpo1 Two Time F1 World Champ
    Owner Silver Subscribed

    Jul 30, 2001
    24,510
    Dallas, TX
    Full Name:
    Jim E
    Mike, maybe just put him in touch with someone at your bank?
     
  3. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    17,564
    Savannah
    just my .02, i have been selling off my cars ( to get a fcar). its just my opinion, but he may just want to verify funds ie see its a real bank with a real account with real accounts payable ect. you are the buyer but how is this for scary!!!!!!! ------ guy bought a relatively cheap muscle car. paid me with a bank cashiers check from a bank i had of course heard of. THE CHECK WAS MADE ON A COMPUTER AND WAS COMPLETELY FAKE! i found this out , since as he left, i went to my bank a few blocks from home. they know me, they were nice.... but it was not fun . the FBI and a U.S. Treasury guy was there... really fast i might add. make a long story short he was wanted for multiple felonies related to this scam. cash is king, but not always safe or practical. perhaps he is just seeking some peace of mind before the deal is sealed. a copy of the check cannot be deposited, if it is you will own your own bank when the dust settles, but the lawyers of the board should fill in what the law actually is on this. best of luck with your car, i have been following the thread with much hope for you as i will be there my self .... one day.
     
  4. jpl

    jpl Formula Junior

    Dec 4, 2003
    349
    Yulee Florida
    Full Name:
    JP Lavigne
    Shelton asked for the same thing 10 years ago when I bought my 308.
     
  5. rossofiorano355

    rossofiorano355 Karting

    Dec 22, 2003
    210
    NOLA - Bham
    Full Name:
    Ron

    Your faxed check would give him no assurances, I agree, put him in contact with your banking officer.

    LSU #1
     
  6. LSU348

    LSU348 Formula 3

    Dec 19, 2003
    1,047
    Sugar Land
    Full Name:
    Mike
    Actually, my bank already called one of the guys I am dealing with. I think he just wants to make sure I am not barking up a tree or defrauding him.

     
  7. MS250

    MS250 Two Time F1 World Champ
    Lifetime Rossa

    Dec 10, 2003
    26,120
    Full Name:
    Avvocato

    For what its worth, when I purchased mine we went through the same deal. I faxed him a photocopy of a cheque and blanked out the digits and had him to talk to my bank direct.

    Still not at ease, nor was i until I knew the ownership was in my name. So we did it that day together. We first talked to my bank to secure the funds for him...then he transferred the car in my name. Once in my name i wired the money and released the paper work. Bit risky but it seem to go well.
    Let us know how it works out !! Congrats on the car !!
     
  8. Doody

    Doody F1 Veteran

    Nov 16, 2001
    6,099
    MA USA
    Full Name:
    Mr. Doody
    if the two parties happen to be local, i've done big-money private-party deals at the bank. just open an account at their bank of choice, then meet there - they can either initiate the transfer into your account - or withdraw cash that doesn't leave the banks' hands that gets immediately deposited to your account.

    a faxed check isn't worth the paper it's not printed on. in fact real live checks may not be worth the paper they're printed on, as thecarreaper points out.

    imo, if they want a faxed check they're either not too sharp or collecting data. in either case it's sub-optimal.

    doody.
     
  9. Fastviper

    Fastviper F1 Rookie

    Nov 20, 2003
    4,525
    Texas
    Full Name:
    Dash
    2 things,
    I once got a fake cashiers cheak for $20000 all the cops said was we are on this guy and we will get him, they got him but not for my 20k but for something else, what I got was nothing.

    2. If he was really deceptive he could use ck by fax and make a ck on your signature and put it into his account in 24 hrs before you would know it and then close his account.

    I would make a cashiers ck with his name on it (that would verify funds)and fax that to him because he cannot deposit that into his account from a fax. If the deal falls through deposit back into your account. also get a business card from your bank with someone he could call.

    good luck
    john
     
  10. 410SA

    410SA F1 Veteran

    Nov 2, 2003
    8,511
    West Coast
    Full Name:
    A
    When I sold my 355 to a fellow F chat member who saw my ad in the F chat classifieds, we used a real estate escrow company to hold the buyer's money until the car was loaded onto the trucking company's vehicle. Once the pickup was confirmed by signature on the bill of lading, the escrow company released the funds to me. The escrow company put together a short but concise agreement between us and there were no complications and no need for either side to have any concerns.
     
  11. Juice It

    Juice It F1 Rookie

    Sep 22, 2002
    3,233
    Maryland (DC Suburb)
    Full Name:
    Jeff
    If they are comfortable with a faxed copy of a check that is great for you. Nothing can be done with it. Every company you pay by check to has your account number and routing number, no big deal. Your account is insured. If that will give them piece of mind to bring the car to you, go ahead.
     
  12. ag512bbi

    ag512bbi F1 Veteran
    Owner Silver Subscribed

    Nov 8, 2003
    7,540
    So. Cal
    Full Name:
    Armen
    I feel it's not a problem. When I owned Newport Autosport i'd ask for a faxed copy also. He just wants to make sure...
     
  13. LSU348

    LSU348 Formula 3

    Dec 19, 2003
    1,047
    Sugar Land
    Full Name:
    Mike
    Per other comments - I will not have my signature on the check. It comes directly from my bank. I will sign it when he arrives. I am pretty sure he just wants to make sure I am not going to jerk any more cash out of his pocket. I haggled pretty hard with him - and I was very patient. I have given him my bank's address.

     

Share This Page