Purchasing question
Hi All, I'm considering purchasing a boat on which the present owner has a loan. I figured many RV's were purchased with the same senario I'm facing. How does one protect themselves as a buyer an...
Forum Discussion
cptqueeg wrote:midnightsadie wrote:
you could use a wire transfer at the bank very safe for both parties. ask your bank manager he can set it up. seller knows he got payed and you get the title.
The title is held by the bank where his note is. He is contacting his bank to find out if they will facilitate the transaction by recieving my wire transfer, releasing the lien, and forwarding me a clean title.
If you had gone for the boat in question, this ^ would be the best way.
Have done transactions similarly before. No problems if each party gets verification from their own bank.
