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

[joelyn]

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

[free_radical]

joelyn wrote:
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

Id talk to an attorney/lawyer,,
Imo the title and money can be transfered the same day,so waiting a week seem rather strange..beware of scammers..

[timmac]

Maybe just keep looking, there is so much for sale why settle for something that might burn you in the end..

Move On.

[Bob___Ann]

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.

Joelyn
I know that you love the unit but if nobody wants to help with the deal obviously something is not right with the deal and I would stay clear of it. The last thing that you need to do is loose your $6,000. There are other good trailers out there including some that you might like even better. Good luck with your search

[DownTheAvenue]

I am an attorney but not experienced with Oregon, Nevada, or even Arizona consumer and banking laws. Before you can even proceed, you must ascertain:
1. The seller is actually the legal owner.
2. The sale amount covers the loan payoff.
3. If the sale amount is not sufficient to cover the payoff, then does the seller have sufficient funds to pay the deficit?

Your best way to proceed is to call the finance company to get answers above. Then see if they will accept a check from you for the pay off. You can write another check to the seller for any equity he may have. Get the finance company to mail the title to you. (This assumes they actually are holding the title. Some states the seller holds the title with a lien annotated.) Get the seller to give you power of attorney to dispose of the RV. Then, when you get the title, you can sign as attorney in fact and transfer title from him to you. Ascertain that in your state an attorney in fact can transfer title in his own name. If not, then transfer title to your wife or trusted person who can then transfer title to you. Some states disallow "non-arms length transactions" so check that out, too.

Feel free to PM me if you need more help.

[time2roll]

Get a loan from your bank. Do the transaction at your bank including the trailer to be released into your possession. Your bank will verify the payoff and collect the title. No money will go to seller unless the old loan is less than the price. Your bank will verify. Pay the new loan off in six months or less.

If the seller does not like it, just walk away.

[mowermech]

jake2250 wrote:
I had this same issue when I found my trailer on Craigslist locally. Agreed on a price, only after he did a complete walk through showing everything worked would I cut a check.
I went to his house, As I get there,, he tells me he has to pay off the loan first (three year old trailer) before he can get the title.. I figure a scam and say,, "Well when you have the pink slip call me".
He tells me "No we can do it over the phone"???
He shows me the loan papers, lets me use my cell phone and call the loan company.
I explain the situation and they walked us through the whole process!
I gave them the numbers off the check, they confirmed, Faxed him the papers, we filled them out he faxed them back. I get a confirmation number and a transaction number with directions to call my bank, confirm the sale and the title will either be sent to me or my bank for pick up!
I call my bank branch and its for sure, they read everything back and confirm its a legitimate transaction and we both agree to a 72 hour hold on the deal until DMV confirms and issues me a title!
Next day I go to my AAA office and DMV has a Temporary title waiting, The lady prints it out after I pay my fee get my new registration, drive to his house and pick up my new (to me) trailer!!
Yes it can be done!

this is the best post in the entire thread! Actual experience beats opinion every time!
Yes, it CAN be done, and it is done safely many times year 'round.

[rexlion]

The money must go to the lender, at least to cover balance owed. Do NOT trust seller, no matter how honest he seems, to pay it off and make your claim to the trailer airtight. If you want to gamble, go to the casino.

[Lwiddis]

"any legal eagles out there???"

Seems like you have called 25 legal eagles.

[free_radical]

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]

I agree. Send the cash to Dennis.

[Lwiddis]

Gee, Joe, a 14 year old TT still financed is what you have been lookin' for? Oh my. Look more.

[malexander]

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.

[midnightsadie]

not every one is a crook ,call the lender and ask how to do it.

[Dennis12]

Send me cash. I'll get er fur ya. Honest

[spoon059]

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...