How to Survive an Inevitable Economic Downturn
Transcript:
Jack Batell: Jack Batell with Jill DeWitt.
Jill DeWit: Good day!
Jack Batell: Welcome to our show today. On this episode, Jill and I talk about how to survive the inevitable economic downturn. Can you make this show fun, Jill?
Jill DeWit: You know, I would just like to point out just once again like every show, I'm here on time, happy with bells on.
Jack Batell: Oh my God.
Jill DeWit: Acutally, today I was on time.
Jack Batell: This is the first time you've been on time ever.
Jill DeWit: Well, wait a minute.
Jack Batell: Actually.
Jill DeWit: For you on time is early. So, that means I was early. So that ... It's only taken me how many years to figure that out about you?
Jack Batell: Before we get into this, let's take a question posted by one of our members on the www.landinvestors.com online community. It's free.
Jill DeWit: Okay. Allan asked, "I've got a seller who's skeptical about cashier's checks," and wants to know what kind of work work arounds aren't a lot of trouble. Especially since it's a $2,000 deal.
Jack Batell: What's the view? What do you think about that? It doesn't happen to me. This is a not so infrequent. It's a very good question, by the way. And not a very infrequent problem.
Jill DeWit: I don't understand why people are not comfortable with cashiers checks.
Jack Batell: So for the record cashiers checks are like money, by the way.
Jill DeWit: Exactly.
Jack Batell: It's green money.
Jill DeWit: Exactly.
Jack Batell: It's pulled out of your account when you get it.
Jill DeWit: Yeah.
Jack Batell: And by the way, it says right on there it's only valid for 90 days and then it's not but that's a bunch of malarkey.
Jill DeWit: Well you know what then.
Jack Batell: I've deposited cashiers checks like big ones, like three years later.
Jill DeWit: Oh really?
Jack Batell: Yeah.
Jill DeWit: Okay I recently had a check that didn't go through but we won't go there. But it was not a cashiers check though. That's probably why.
Jack Batell: Really?
Jill DeWit: Yeah, it's okay, it was 100 bucks. I could care less. But with a cashiers check ...
Jack Batell: So good that I don't know about that.
Jill DeWit: Exactly. This to me is kind of where does a guy want a money order? I mean what does a guy want?
Jack Batell: Probably.
Jill DeWit: I mean you could almost do green cash. I just am not comfortable sending that in the mail. Because ...
Jack Batell: I wouldn't.
Jill DeWit: Because you're not ... Cause LEt me back up. How would the transaction is usually played out is the person, the seller, is stand there with a notary and the deed and the seller is agreeing to sign a deep right then and there in from of the notary for the transfer of the property and at the same time, the notary's handing the seller a cashiers check.
Jack Batell: The buyer.
Jill DeWit: Yeah. Selling to seller. I'm talking ... It's a seller so he's buying it.