Posted by Christopher S. on October 10, 2018 at 04:07:31 from (24.154.25.70):
Good Morning Gentlemen, I was looking for some advice on how this particular situation should/would play out.
I'm looking at a used 2017 RV several states away. When I talked to the seller he says it is still under loan with Bank of America (Bank of America has the title). He currently owes more for the unit than the unit is currently worth. I believe he obtained his financing through the RV dealership where he purchased the RV from. As it turns out, the nearest Bank of America is about 2 hrs one away from the guys house. I thought that the title should be sent to the closest branch, we both show up with checks to pay off the loan, and I walk out with a title, or the bank sends me the title.
The seller seems to be more of the opinion he doesn't want to make the 2hr journey one way to the nearest branch. He would like to mail the checks to the bank, and then send me the title when he gets it. I thought both the buyer and seller had to sign the title and have it notarized. This would require a second trip to see the seller. I'm also a little concerned about dragging the trailer home and the title getting tied up somewhere some how. What if he stops payment on his check?
Another option would be for the seller to payoff the loan, get the title in his name, then we could do the deal. It doesn't sound like he has this kind of cash.
What is your guys opinion? How should this play out?
Upload one or more videos to your post. Photo filesizes should be less than 300K and Videos, less than 2MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Weldin Basics, Part 3 - by Curtis von Fange. Oxy-acetylene Welding - Part One In our series on welding we have taken a brief look at AC and DC arc welding along with basic techniques and safety equipment required for safe usage. Since our premise is to cover welding types that might best be used on a farm environment we have kept our overview purposefully simple and general. The second type of welding that this observer finds quite useful in
... [Read Article]
Latest Ad:
For sale Farmall super A tractor is complete and has just been setting for awhile,it was running when pulled out of the barn,shouldn’t take to much to get it going asking 1100.00
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
