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

Showing 1 response by dbphd

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