Would like to run this by ya'll and see what u think or maybe any suggestions....want to buy a 2003 TT from a private owner and he is the question. cost of trailer is 6000.00 and we settled on a price and its what we have been looking for. NOW, the TT is in las vegas but the title and reg is from OR. since they moved here 2 months ago and the title is held by a finance com there since they had it financed. SOOOOO they want the 6000 in cash and in turn will pay off the finance com and have the title sent to me in about a week. I know i don't like it but its the trailer we have been looking for. SO and suggestions as to how i can protect myself legally in the event something goes wrong? any other way that we can handle this matter?thanks for any suggestions

Is there a local branch of that finance company? If so, do the transaction in their office. Or, look up the lender online and call them to verify how they want to handle the transaction. They may want you to do an electronic funds transfer to them instead of paying the seller. Having the title sent from the lender direct to you is fine, IF you know where to reach the seller so he can sign it for transfer. Without the seller's signature, you probably will not be allowed to transfer it to your name.You will want to make every effort to protect yourself. It is quite possible that you will wind up with a trailer and just a Bill Of Sale, no title, or a title with a lien on it.Perhaps I am just paranoid, but unless I could be absolutely sure that the transaction will go well, I would walk away.

I'm sure they're fine people but do you trust them $6000 worth, or whatever you settled on? I would get the name of the facility holding the title, call them and ask them how to proceed so you can get the title transferred back to the owners. I would not give anyone $6000 cash and trust that everything gets done correctly. Maybe a wire transfer to the holding facility, or cashier's check. Talk to your financial institution and see how they suggest your proceed.

Do the deal at his finance company. That way you make sure the rig is paid off.

any legal eagles out there {{{UPDATE===UPDATE}}}}

WTP-GC
Explorer
Jun 20, 2017
joelyn wrote:
called about 25 lawyers in vegas area, NONE want nothing to do with it. called title companies same result. called escrow companies, same result. called my bank with the same results.
no one could give any further assistance nor wanted to help at at all. Americas work force. amazing, tiltle companies telling me they know no lawyers,,,,, say WHATTTTT , a title company.
so in limbo still with this.

So...of all those people, you still didn't actually call the lending company that's holding the title?
Trackrig
Explorer II
Jun 20, 2017
Our credit union took care of a similar situation for us. In three days we had the title and our credit union even provided the new plates to put on the RV when we went to pick it up.

Bill
spoon059
Explorer II
Jun 20, 2017
Gotta tell you... this smells fishy to me. Without seeing a title and knowing that the person with whom you are dealing holds said title, I wouldn't do anything. Who knows if this is a stolen camper, or simply a loaned camper to which the "seller" has no legal right? Why doesn't the "seller" have the title in hand, or at least a copy of the title marked with a lien?

If I was to be involved in this transaction, it would occur at the seller's financial institution. I would demand a clear copy of the title by issued immediately upon payment. If the financial institution holding the title refuses to immediately clear the title, I would demand that the money be placed in some type of escrow account and not cleared until you receive title.

As it stands now, there is nothing to prevent the "Seller" from taking $6000 from you and walking away, never to be seen again. You would have no paperwork proving that you made a legal purchase from the legal owner of the camper.

Be VERY careful...
Dennis12
Explorer
Jun 21, 2017
Send me cash. I'll get er fur ya. Honest
midnightsadie
Explorer II
Jun 21, 2017
not every one is a crook ,call the lender and ask how to do it.
malexander
Explorer
Jun 21, 2017
I bought my current moho through PPL. The owners had moved from New York to Texas. Texas and New York are both tile holding states, Oklahoma is not. I had to wait for New York to release the title, then wait for PPL in Texas to send it to me. It took a couple of months for this to happen, which cost me 30 days of penalties when I tagged it.
Lwiddis
Explorer II
Jun 21, 2017
Gee, Joe, a 14 year old TT still financed is what you have been lookin' for? Oh my. Look more.
Lwiddis
Explorer II
Jun 21, 2017
I agree. Send the cash to Dennis.
free_radical
Explorer
Jun 21, 2017
Ive never bought trailer or motorhome,but imagine its same as buying a car since it has a title,yes?

I want the title in hand as soon as I give my certified check to the seller,,
I pay cash only if its under 1000$ but still want pink slip,if its a car with seller name on it,plus bill receipt for the price paid..most sellers are decent enough to write lower amount as I the buyer have to pay tax on this when registering at DMV

No exceptions..never been burned yet
Lwiddis
Explorer II
Jun 21, 2017
"any legal eagles out there???"

Seems like you have called 25 legal eagles.