Mountain Bike Reviews Forum banner
1 - 4 of 4 Posts

·
Registered
Joined
·
39 Posts
Discussion Starter · #1 ·
I am selling a bike over the classifieds and agreed to take a personal check from a buyer. I told him up front that I would ship the bike as soon as his check cleared. I checked with my bank today and they said it had cleared. Am I now safe to send the bike to the buyer without any worry of loosing the money? Any thing I still need to worry about?

Thanks Andy
 

·
Old man on a bike
Joined
·
12,395 Posts
You should have asked your bank that question. I believe there are a few things that could come back at you, but I'd say your chances are pretty good that you're safe.
 

·
Freshly Fujified
Joined
·
8,199 Posts
Ship the bike

Whether or not you have anything to worry about is beside the point. You told the buyer you would ship once the check cleared, not once the check cleared and you waited to see if anything else might blow up. Granted, I understand your concern, but to me a deal is a deal. If I'm the buyer, I'm expecting you to ship.

As for any other potential repercussions, I've heard of bogus check type monetary documents clearing a bank, only to be found counterfeit. In this case, the payee was screwed.

Good luck.

Bob
 

·
Registered
Joined
·
291 Posts
Call_me_Clyde said:
Whether or not you have anything to worry about is beside the point. You told the buyer you would ship once the check cleared, not once the check cleared and you waited to see if anything else might blow up. Granted, I understand your concern, but to me a deal is a deal. If I'm the buyer, I'm expecting you to ship.

As for any other potential repercussions, I've heard of bogus check type monetary documents clearing a bank, only to be found counterfeit. In this case, the payee was screwed.

Good luck.

Bob
You are the buyer?

I don't know exactly, but AFAIK there is a certain time frame after which the check has really cleared. The funds showing up in your bank statement doesn't mean the check has cleared. It only means the bank is expecting it to be good and advances you the funds. For details, you need to talk to your bank.
 
1 - 4 of 4 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top