msmith1199 wrote:
If I was a buyer, no way in heck would I ever give somebody $50k and trust they will pay off the loan.
Totally agree. Friend of mine purchased a vehicle that had a lien on it. He went with the owner to his bank... Made a check out to the bank for the payoff. Received a receipt for the payoff, and marked as "payoff, along with VIN number. Paid the owner the difference between asking price and payoff. Received a bill of sale. Drove off with the vehicle, and received the title in the mail about a week or so later.
If the buyer is financing, just have the banks do it, as others have suggested. Alot easier that way.
Mike
