Melissa_-_Gary
Mar 02, 2015Explorer
Purchasing a MH using an escrow service & insurance ques
Hello,
We are interested in purchasing a motorhome that's located in another state. The coach is currently being repaired at a body shop because the exterior was vandalized with rocks. Window, body, and paint repairs could take 5-6 weeks. The seller said he would take a $5,000 deposit to hold it. We aren't comfortable with giving the seller deposit money though we are considering using an online escrow service like Paysafe Escrow if the seller agreed. We would have the coach inspected and make that part of the purchase agreement. We'd like to hear from anyone who has purchased an RV or motorhome under similar circumstances whether they used an escrow service or not. Also hear from anyone who purchased a damaged RV/MH and had a difficult time obtaining insurance. If so, did your insurer allow you to raise the ACV 'actual cash value' or 'agreed value' of the coach after completion of repairs and getting an appraisal.
Gary
We are interested in purchasing a motorhome that's located in another state. The coach is currently being repaired at a body shop because the exterior was vandalized with rocks. Window, body, and paint repairs could take 5-6 weeks. The seller said he would take a $5,000 deposit to hold it. We aren't comfortable with giving the seller deposit money though we are considering using an online escrow service like Paysafe Escrow if the seller agreed. We would have the coach inspected and make that part of the purchase agreement. We'd like to hear from anyone who has purchased an RV or motorhome under similar circumstances whether they used an escrow service or not. Also hear from anyone who purchased a damaged RV/MH and had a difficult time obtaining insurance. If so, did your insurer allow you to raise the ACV 'actual cash value' or 'agreed value' of the coach after completion of repairs and getting an appraisal.
Gary