Jun-23-2017 06:41 AM
Aug-02-2017 12:00 PM
paullac wrote:
OP here -
The RV is sold. We put it on Craigslist, the first people came to look at it 3 days later, they put an offer in 2 days after that, & then we did the financials & title transfer about a week later (wife was out of town so couldn't do sooner).
I was at work when they came to look at it so my wife handled showing it. She is pretty familiar with how everything works. She did accompany them on the test drive. They were an older couple about to retire so we (she) felt very comfortable going along.
We went to the DMV together. We signed the title over to them so the VIN is now officially in their name. They already have insurance. The plate stays with the vehicle for the state we live in.
They then gave us the payment. They did not finance the purchase. They use the same bank we do. They got a cashiers check. The difference with a cashiers check (vs certified check) is the funds are removed from their account & basically put into a bank escrow account when the check is issued. That means that they couldn't stop payment on the check for example.
We were surprised how quickly it sold (approximately 5 days). Truth be told, we would have preferred a little bit longer so that we could have finished more of the season. But then I thought the timeline could get longer the later you go into the season so we moved ahead now. We've had 2 pop up's & now this class C. The pop up's sold in the first weekend to the first people who came to look as well. We just thought it would take longer being a bigger purchase. However, the unit was in excellent condition mechanically, operationally, & from an appearance perspective.
Just wanted to update those that provided great advice in response to my questions.
Jul-21-2017 12:14 PM
Never Leave a Burning Stick Unattended
Jul-08-2017 08:30 PM
Jul-08-2017 06:01 PM
Jun-24-2017 08:48 AM
Jun-23-2017 06:27 PM
pauldub wrote:
I would ride in the motor home with the potential buyer and I would accompany them to their bank to get the check. In the state I live in, you just sign the title and report the sale to the state as explained on the backside of the title.
Jun-23-2017 03:43 PM
Jun-23-2017 03:38 PM
Jun-23-2017 10:13 AM
Jun-23-2017 09:07 AM
paullac wrote:pauldub wrote:
Regarding the buyer getting a loan, their lender isn't going to give them money without having the title in hand.
OP here - That's my concern. I give them the title. For whatever reason I don't get money (their loan doesn't go through, check to me from the lender gets lost, whatever, any number of reasons...). Once I give up the title I'm in a risky spot. Hoping to find a buyer with cash!
Jun-23-2017 08:34 AM
Jun-23-2017 08:31 AM
Jun-23-2017 08:01 AM
j-d wrote:
Find a way to make sure the buyer actually transfers title FROM YOU. In FL, signing the title over does not "sever" your ownership. State DMV makes it clear that the New Owner has to complete the transfer. If somebody pays for the unit, takes it and doesn't transfer title, then if anything happens, the search will lead back to you.
Using a lender, may actually help with this as noted above. Get everything notarized, too, even if state doesn't require it. Then, if buyer understates price paid to avoid sales tax, you have stronger documentation to show you didn't enable that.
Jun-23-2017 07:59 AM
pauldub wrote:
Regarding the buyer getting a loan, their lender isn't going to give them money without having the title in hand.