Go to a bank where you already have a banking relationship. Then ask the teller that you need to get a cashiers check issued. Normally a cashiers check will be preprinted with the 'Payable to' filled in, so you need to know who to make the check out to. They will deduct the amount from your bank account, so you need to have enough money in your account to cover it.
If you have accumulated enough money to pay cash for a house you would present the payment for the house to realtor or lawyer that represents the current owned of the house at the closing. It is likely that they would require a cashiers check for a sum that large.
In order to get a cashiers check, the money had to be withdrawn from an account, this account could be traced. You could withdraw cash, then use it to get a cashier's check, but someone might be able to match the date of a large withdrawal.
Yes.
the purpose was to make a better life and to ease down on payment and other expensis
Assuming you try depositing a cashiers check from another bank into your bank account, it is unlikely to clear that same day. Even if your bank makes the funds available to you in a day or two, even that does not mean the check has necessarily cleared. I asked this question of an employee at a major bank at which I have an account (because I want to sell some large-ticket items for substantial amounts of money to a private party). She basically said, when the cashiers check actually clears depends on the bank that issued it. Even if your bank makes the funds available to you within a couple of days due to regulations imposed on them, the check may not actually clear (due to fraud or whatever). Your best bet is to physically visit the issuing bank, show them ID to prove who you are, and get them to cash the check immediately. They will then remove the funds from the account in question, and issue you a check from the bank directly. That new check will be essentially as good as cash.
A balloon payment is a large, lump sum payment made either at specific intervals, or more commonly, at the end of a long-term balloon loan
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Balloon Payment
Balloon payment
A traveler's cheque is used as replacement for cash, particularly by those who are traveling. People use traveler's cheques instead of cash because traveler's cheques can be replaced if lost or stolen, whereas cash would simply be gone. Traveler's cheques can be made out to anyone. A cashier's check is a check made out to a specific individual or organization for a specific amount and is usually used to make a specific purchase or make a large payment. Both cashier's checks and traveler's cheques are considered "guaranteed funds" because the money for them has been secured by the issuing bank in advance and placed in a holding account until the check is cashed.
A Balloon Payment is a large payment due at the end of a mortgage or loan period. Therefore, a Balloon Payment Calculator will help you to predict what you will owe on your Balloon Payment.
Down payments are meant to protect businesses and companies from people who neglect to complete their payments on large purchases. In the event a person making payments defaults or refuses to pay, the down payment ensures the company has not lost all of the money the item being paid for was worth.