Lien Release Private Seller

[Murff]

This thead is 18 months old.

Murff

[TaftCoach]

Originally Posted by Murff

This thead is 18 months old.

Murff

And still going strong lol

[SmokerBill]

Originally Posted by TaftCoach

And still going strong lol

And it doesn't matter. If someone gets help from an old thread it's still a good thing.

[Jolvi]

Originally Posted by SmokerBill

And it doesn't matter. If someone gets help from an old thread it's still a good thing.

Exactly, old threads can be a great help. We never know what people need help so I am going to add my purchase.

[Jolvi]

We had a similar issue. Seller was in our state but title was held by Bank Of The West in California. Agreed to purchase but we use a credit union so went to talk to them. They handled whole transaction, they contacted bank they found out payoff amount which was less than loan value and seller only wanted unit paid off. So when they finished paperwork called me and said to come buy and pick up the amount due to seller and the title was being cleared by by the bank in California so the deal was they held his payoff amount until they got proof of clear title. I did not get a loan just moved money out of savings account. But credit union seemed to be very helpful.

[bucko]

My wife was once (many years ago) a branch manager for a bank in North Carolina. I asked her what the best way was to handle this, as I assume it happens a lot with trade in's on car's, boats, and RV's using dealerships as well.

She recommended that you talk with your local bank representative to see how it should be handled. My wife said that different states may have different policies on how this is handled, and how you can protect yourself.