Best way to transfer funds on private RV sale
Hello, I am thinking of buying a used Class A diesel in another state. The amount is on the order of $140,000. There is a lien on the RV about equal to the sales price. What is the best way to...
Forum Discussion
MrWizard wrote:
have your bank call the lien holder bank
if its a liget deal
you take a check to the lien holder bank and have the seller meet you there
the bank gets the check the seller and bank sign off
the RV is yours, the paperwork is yours
that bank will give the seller the left over balance, aka payoff 130,000
sale is 140,000 dif is 10,000
if they don't agree, run away from the deal
Nothing is over that quickly anymore if you're using a check. Other bank is not releasing the title until that check clears. The owner of the motorhome would be crazy to let you have the motorhome until the check clears.
