Making Sure You Get Paid for a Sale

Physician's Money Digest, November 2005, Volume 12, Issue 15

For example:

If you're a physician looking to sellsomething, especially something of value,you should be concerned about the form ofpayment you receive. Ifyou're selling your car for an asking priceof $15,000, you're probably not going toget cash for it. Unfortunately, there havebeen several incidents of fraud reportedwith other methods of payment, especiallycashier's checks. According to a Bankrate.com article, if you are paid by cashier'scheck, you should contact the bank thatdrew the check and confirm the checknumber and amount. A money order isgenerally a safe way to receive payment,although they are not completely protectedfrom fraud, as crooks can forge blankorder forms. The US Postal Services, one ofthe largest issuers of money orders in theUnited States, provides a list of missingmoney order forms that you can checkyours against. If you're selling through theInternet, Western Union's BidPay andeBay's PayPal are both effective ways toget paid, but also come with caveats.Make sure that the buyer's funds aredeposited before shipping off your item.