How to sell motorhome with existing loan
I am seriously considering selling my '08 motorhome. My concern is that I still have an outstanding loan on the rig. I sold my previous rig with a bill of sale, which stated that the title would be pr...
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robsouth wrote:Sea Dog wrote:
I backed out of the deal on a really nice fiver.
I am Canadian, this was in Florida.
The vendor had a loan at a bank in Mass.
She wanted cash paid to her, with which she would pay off the loan,
then, she said, the bank would send us the title.
Sounded iffy to me, so we backed out.
Still regret losing the trailer.
I sold a 5th wheel using those same terms. All went well and everyone was satisfied. It happens everyday. I don't see the "iffy" part.
Yes, I understand your hesitation. I bought mine the same way, however They had to show me a title clear and free, they owed 20,000 more than the selling price and no way was I going to pony up the money to pay off their mortgage and expect everything to come out OK.
they had to do whatever they did to get the title 1st and then we made a deal
