A lot depends on if you own your RV free and clear and have the title in hand or if the bank is holding your title because of a loan. If the bank holds the title, check with them to see the procedure that they use. Some banks/States use electronic titles and as soon as the lein is paid, they will release the title ELECTRONICALLY so that you and the buyer can go to the DMV and get a printed title.
If the buyer is going to finance the purchase and you also have a loan on the RV, the two banks will have to get together to figure out how they want to deal with things.
If you own the RV free and clear and the buyer is paying cash then I found the best way is for them to wire transfer the funds to you before you sign over the title. Depending on the seller's bank, he may have to make arrangements to wire transfer the funds BEFORE he comes to see you. Most banks will not authorize a wire transfer over the phone unless prior arrangements have been made. Once the wire transfer is complete, then you can sign over the title.
Naturally you may find a buyer that wants to pay cash. One of my Classic Cars sold for over $50,000 and the buyer insisted on paying cash. No big deal but we had to go to my bank where they counted the money with two tellers and then deposited it in to my cash. My bank knew me and this DID NOT involve any additional paperwork and red flags to the FEDS even tho it was a cash deposit in excess of $10,000.
If your bank is not familiar with you, depositing that much cash may be an issue and require additional paperwork.
I do not ever recommend accepting a cashier's check. These can be forged and a stop payment can be issued on the check by the buyer.
As far as removing you from liability all you have to do is type up a Bill of Sale outlining the entire transaction and when you hand over the title, both of you sign the Bill of Sale and you are out of it, according to my attorney. Using a Notary at your bank insures that each party is who they say they are.
In my last sale, the buyer lived in my State and at closing we BOTH went down to the DMV and the title was transferred right there. Since Florida uses electronic titles, he received a new title with his name on it and a new tag as soon as he paid the sales tax and the license fee. Took about 15 minutes and he had a new tag and title and was ready to drive home.
Really all it takes is a little common sense but if there is any doubt, go to your bank and get their advice.
You want to avoid trying to close a deal on the weekend where your financial institution and the DMV are closed. This could be a red flag if the buyer insists on closing a weekend deal with a cashier's check.
If it is a cash deal on the weekend, use your own discretion but he can still sign a Bill of Sale and there are places, like car dealers, that do have a Notary and are open on the weekends.
