I am in a business where 5 and 6 figure sums change hands. If a cashiers check is used, ownership does not transfer until those funds have cleared. Here's why: For example, I can go get a $25k cashiers check at the bank. I have to have the 25 grand to get the check. Now, I go to purchase the whatever. The sale doesn't happen, so I go back to the bank and deposit the check right back into my account - normal, no problem, I've done it many times. Now lets say some scam artist gets a cashiers check, makes a nice color copy of it onto quality check paper, and then buys your motorcycle with the fake check. He rides off on your bike and even stops at his bank to redeposit the real check. You won't even know you've been scammed for a week or two until your bank and the scammers bank run it through their systems. The scammer... he already closed his account, had a fake identy.... Probably already opened a new account at another bank waiting for another opportunity. So...... Merchandise and title only after funds have cleared.
Yes, wire transfers are better. They take about 24 hours. All wire transfers go thru the federal reserve on over nite funds. This is how the feds float our money and get an interest free loan from us - but thats another story. Wire transfer today, funds arrive sometime tomorrow M - F.
Zeke