2. misc-audio
  3. 1292372579

How long do you wait for a check to clear

Hello, I'm selling some equipment for several thousand dollars. I told the buyer that I would take a personal check and send the equipment after it clears. My bank said that they couldn't tell me when it cleared, only if it was returned. They said that in most cases it should be ok in 10 business days. I'm not sure when to ship the equipment Does anyone have any experience with this? Help!!
bwos
slikric3000
638 posts
 
Marakanetz,
look all I stated was there was a law passed a few years ago, whatever your loopty loop logistics of how the system you think works is your business.
Post removed 
rrog
1,958 posts
 
I have actually had sellers ship equipment before receiving my check.
blkadr
739 posts
 
Like I said. As long as it takes for you to be sure.
Ag insider logo xs@2x
dbphd
1,631 posts
 
One of the things not mentioned is that the buyer assumes the risk the seller will that the cash and not send the item or that the item will be defective. It's a two-way street that requires mutual trust.

So far I've been a buyer -- most of the equipment in my racks has come through Audiogon, but I expect to be a seller soon.

db
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