Buying Camper With A Lien

Still owes bank for rv loan what is the best way to get a clear title.

Buying camper with a lien.

The online rv buying process was a little more involved than going a dealership route and i must say we were extremely blessed with how amazing of a process it really was. How do i get clear title if he can t pay off the lien loan until i give him the money. If you take this route be sure to have a written and signed agreement in place before you pay the lien. The lien holder must complete and file a satisfaction notice within 10 days after the.

The owner still owes money on it lien. Educated buyers will shy away from your rv because of the legal troubles they could face without it. This may be a state specific question. I am looking at a used trailer being sold by a private party.

I would prefer to be handed the title when i hand over the check but seller would not have. We have decided to buy a used rv. Selling to a private party though more effort will be required on your part selling a car with a lien privately could net you a higher profit. 4 2009 08 17 am.

We took the title to dmv and transferred ownership and owned the rv. No matter how you do it having bank and owner on your check assures that owner doesn t cash the check without clearing the lien against the rv. If it means going with the current owner to pay off the lien or paying the lien holder directly then thats what it takes. We have concerns about paying someone and not getting a title for a while how long.

Once you pay the lien with either cash or your loan the lien holder can transfer the title to you or your lender. If money was loaned to buy the vehicle flhsmv will issue the title reflecting a lien. Problems like this can occur when you buy your rv from a private seller. What if the owner has a loan.

Do not venture out to buy a used car until you have read all sections of that used car buyer s guide. Before the transaction is complete and you leave your car to the dealership make sure you receive documentation that your lien has been satisfied. If you re buying the car with a loan you will need to work with both your lender and the lien holder to come to an agreement. Being a seller of an rv without a title can be problematic for you as well.

The whole thing ended up being smooth and painless at least on our end and hopefully for the sellers that i wanted to offer some tips and tricks we used as well the. What s my guarantee that he will pay off the loan with the money. I live in arizona. Especially for vintage built before 1985 or neo vintage built between 1986 2017 era coaches.

Unless you will have clear title when you take over ownership. If i want to purchase an rv from a private individual that has a lien i e. The bank and the owner co signed cancelled the lien on the title and then the bank notarized the title. After the buyer pays off the loan the lien holder must mark the lien satisfied flhsmv also requires the lien holder to send a satisfaction of lien to the department.