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

[hawkeye-08]

I agree with those that said to call the lender and figure it out from there. If they actually have the title and loan, then they can advise you how to handle it. Then work through your bank to do the actual deal.

[spoon059]

Playtime II wrote:
Come on folks. It has already been mentioned several times that not all states work the same when it comes to vehicle titles with liens. Getting a title immediately may be impossible given the financial institution and the state. It does not always mean a scam. Ask your DMV as well as the financial institution "holding" the title.

You are right... but how else can the "seller" give proof that he has a legal standing to sell the vehicle? I've been a police officer for 15 years, I've seen a lot of trusting people get burned by scammers... enough to question every suspicious transaction like this.

Lets just play pretend for a little bit...

You own your trailer but are on a business trip and out of town for 2 weeks. Your brother-in-law has a pill problem and knows that you have your camper, unattended, at your house. He puts an ad on Craigslist to sell your camper. The OP shows up to your house (that your BIL claims is his). Your BIL has access to your house, and has the keys to your camper. BIL shows the camper to OP, its in nice shape and the price is right. OP hands over $6000 to your BIL and drives away with your camper.

You return home a week later, your camper is gone. You call police and file a report. OP is waiting around for a title that is never coming and is stuck with a trailer that he cannot ever register. Your BIL has $6000, your camper is missing and the OP has no title.

Will this happen? I don't know.
Can it happen? absolutely.
Does it happen? Every single day across the US.

OP asked for advice, I gave him my advice. My advice is based upon 15 years of law enforcement and more scams than I can remember. Even if your state doesn't provide a title with a lien stamp, they have to provide SOMETHING to facilitate a sale. You can't take a car to a dealer to trade it in without some type of identification that proves you are the rightful owner... why should the OP take that responsibility when a car dealership wouldn't assume the same responsibility...?

[Playtime_II]

Come on folks. It has already been mentioned several times that not all states work the same when it comes to vehicle titles with liens. Getting a title immediately may be impossible given the financial institution and the state. It does not always mean a scam. Ask your DMV as well as the financial institution "holding" the title.

I could not register one of our cars and the MH when we moved here to FL. I did not have the titles. Back in VA the banks held them. FL DMV sent for them. When they received them, they called me and I was then able to register (get plates). Five separate trips to the DMV to get our DLs, 3 cars and the MH changed to FL.

[magnusfide]

spoon059 wrote:
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...

Double ditto. Keep looking and don't make a deal unless you get the title immediately.

[bucky]

Lwiddis wrote:
WTP, ... you know a bunch of finance companies that will make a 15 year loan on a 13 year old RV? So when paid off it's a 28 year old TT. Loud laughter here.

How can I invest in a great company like that?

Send me 6 large, I'll take care of it for you.

[WTP-GC]

Lwiddis wrote:
WTP, ... you know a bunch of finance companies that will make a 15 year loan on a 13 year old RV? So when paid off it's a 28 year old TT. Loud laughter here.

How can I invest in a great company like that?

You totally missed the point... and you're the one who made the point...
The rig in question us currenty 13-14 years old and financed. If a 15 year loan was issued when the rig was new, then it could still be under the original program. Nowhere has anything been mentioned about getting a new 15 year loan on a 13 year old rig.

[Lwiddis]

eDUBz, as P.T. Barnum said there's a sucker born every minute.

[Lwiddis]

WTP, ... you know a bunch of finance companies that will make a 15 year loan on a 13 year old RV? So when paid off it's a 28 year old TT. Loud laughter here.

How can I invest in a great company like that?

[eDUBz]

I also was on the selling side 2 years ago - Had my truck listed the guy never saw the truck in person or test drove, nothing. He said he had a chashiers check in my name and was ready to buy it come give it to me and make the deal. He was two hours away so I told him I'll meet him at his bank to verify the check and sure enough Legit! Handed him the keys drove 5 mins to my bank and cashed it .

[eDUBz]

Did it with my Polaris RZR - got a cashiers check made out to the bank under my name and notarized document stating that I paid with cashiers check the remaining balance of the loan and once it's paid off seller will send the pink slip. I notified her finance company of the deal and they documented all my info but still had to send her the pink slip. She sent the cashiers check next day air after we completed notary documents. Seller was 4 hours away and I took delivery same day - took the bank 3 weeks to send out pink to her she then sent it out to me. But it went smooth. Oh by the way transaction was in California and RZR was registered in AZ. Wrtitng a check for 10k plus was scary but I Verified everything she had told was true.

[Addy15]

I, too, would not give cash to someone in this situation as described. However, I find it strange that the owner does not have the title. Our trailer is financed, but we have the title in our possession. It lists a lienholder on it, but it's our title and we have it. Does it not work that way everywhere? Does it depend on the lender?

[DryCreek]

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.

I'm not sure about other states, but here in Texas a "Title Company" is only involved in real property transfers (i.e. real estate and mineral rights).

Why not call the finance company that has the lien and ask them how you could protect your interest if you purchased the item and wish to obtain clear title of said property?

[rockhillmanor]

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

Not an attorney here but...........

How many more

RED FLAGS

do you need to know that this is a scam?

It is the epitome of a scam waiting to go down the minute you give them the cash. Run don't walk away from this transaction.

The only way this seller can prove he is 'not' a scammer is if you are able to walk into the office of his so-called lender in Oregon and do the cash transaction there and you fill out the proper paperwork that the Oregon title will go directly into your name AND you take that TT home with you legally the same day 'from' that office.

My guess is the seller will most likely will allow you to do that. :W

[bucky]

Someone stated that not everybody is a crook. That's true, but it only takes one to take your money and disappear.
There is no way in hell I would hand somebody cash for a promise. Kind of like a dollar today for a cheeseburger tomorrow.
Tell him to call you when he get's it straightened out. Remember, you are in Vegas. Maybe Vinny is gonna break his legs if he doesn't pay up capeche!
( no offense to any Vinnys )

[WTP-GC]

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

I don't know what kind of programs they had in 2004, but a quick stroll through most RV lots will show you that a 15 year loan program is available.