Question on Paying Cash for a Home

**MissChickie** · 05-05-2009, 04:02 AM

I closed on a mobile home last week. The buyer (who happens to be a real estate agent too) paid cash by means of a cashiers check.

The buyer showed up with a cashiers check payable to herself and presented me with the check once she signed the back.

I was hesitant to accept a third party check as payment, as I understand the risks involved with third party checks and possible bank rejection. The buyer insisted that her bank insisted that this is the usual and customary way of presenting checks to a seller.

How accurate is this information? or... Did someone drop the ball? or... Was the buyer trying to pull a scam?

I am very confused as I am a Bank of America customer and I understand BOA is very strict, but for good reason to protect their customers.

Any insight on this topic would be deeply appreciated.

Thank you.

Miss Chickie

**Greg** · 05-05-2009, 05:19 AM

Did the check clear? If it did you have nothing to worry about. If it didn't, you had better get a lawyer on it immediately.

**MissChickie** · 05-05-2009, 05:30 AM

I did not accept her check. I forced her to go to her bank to get a check cut specifically to me.

My question still stands is; what is usual and customary? was her action correct?

Her bank made a statement that making the check payable to her, the buyer that the check would be "safer"????????

I don't understand this logic and hope someone would please bring some clarity to the table.