Forum Discussion
mytime
Aug 01, 2013Explorer
All good advice, but the Lien holder is not going to release the title until it has the money., if the seller does not have the funds to pay off loan you will have to go to plan B, (usually due to privacy rights the loan co. cannot discuss any part of the financing with you).
In my purchase I paid the Seller a Partial Payment, used an attorney to handle the Sale, I received a bill of sale from Fl.(a printed form used by the state), I also took position of the MH at that time, insurance co will insure you with the bill of sale., so if any damage occurs you will be able to deal directly with the insurance co., I was told that it was legal for me to use his registration until the title arrived. The Attorney dealt with the Bank and mailed me a title in about a week. In my case all went well., attorney fees was $150. which we split.
In my purchase I paid the Seller a Partial Payment, used an attorney to handle the Sale, I received a bill of sale from Fl.(a printed form used by the state), I also took position of the MH at that time, insurance co will insure you with the bill of sale., so if any damage occurs you will be able to deal directly with the insurance co., I was told that it was legal for me to use his registration until the title arrived. The Attorney dealt with the Bank and mailed me a title in about a week. In my case all went well., attorney fees was $150. which we split.
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