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Old 02-04-2007, 11:13 AM   #1
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We are considering a purchase in the coming year and have always bought from dealers to this point. However sometimes the rig of choice comes up in the private market.

I would appreciate some advise on how to go about protecting oneself on a private purchase. Obviously the vendor would want to protect themselves as well.

Do most people use an escrow service to protect both parties and if so what type of costs are typically incurred.? Are there other options??

Thanks for any advice you can provide.
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Old 02-04-2007, 11:13 AM   #2
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We are considering a purchase in the coming year and have always bought from dealers to this point. However sometimes the rig of choice comes up in the private market.

I would appreciate some advise on how to go about protecting oneself on a private purchase. Obviously the vendor would want to protect themselves as well.

Do most people use an escrow service to protect both parties and if so what type of costs are typically incurred.? Are there other options??

Thanks for any advice you can provide.
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Old 02-04-2007, 01:49 PM   #3
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Hope somebody with some actual experience responds to this - should be interesting.

The few I know who have gone the private route with significant purchases have taken cashier's checks directly to the seller's bank and got the title transfer notarized on the spot. Don't know if that is adequate or not, given that there is a scam that uses phony cashier's checks.
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Old 02-04-2007, 02:24 PM   #4
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If you're financing the purchase, there should be no question about the payment method. If your paying "cash", have the seller contact his bank and determine what the process is for him to ensure your cashier's check is really good. Once the payment method is agreed to, title is transfered at the same time the check is delivered to the seller. It is like closing on a house.
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Old 02-04-2007, 02:32 PM   #5
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I purchased privately, I used a loan broker to finance (http://www.eboatloans.com/). I got a great rate and they handled all the funds transfers. Their fee was $199 plus their commission from the bank. I got a terrific rate, great service. They know the market, came back to me with 4 offers, I took the best one which was Bank of America. All in all a painless process well worth the fee.
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Old 02-07-2007, 09:55 AM   #6
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I bought my Damon from a private party in December. The coach had a lien on the title, Pa registration, was located in Florida, and I live in Ohio - so it was probably as complicated a transaction as you can get - except we paid cash, no finance involved. I did quite a bit of research and found that the controlling document is a notarized bill of sale. The legal document is the clear transfer of title. The coach still legally is owned by the selling party until title transfer is complete. We had the Damon ispected by an RV dealer in Fl. Then we drove down and checked it out. All parties went to the sellers bank (BofA). I paid with a cashier's check made out to the sellers and BofA. We got a notarized Bill of sale, notarized letter of promise by the sellers to send the title to us as soon as they received it, and a notarized letter of authorization to use and operate the coach (from seller). We drove back to Ohio, with Pa plates. When I received the title, we went to ODOT and got a new titel and Ohio plates. Everything went without a hitch. According to all 3 states, what we did was legal and correct. Hope this is of help.
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Old 02-07-2007, 10:04 AM   #7
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If you're going to finance the unit, do as hondo122 did and let the bank or finance company do all the work for you. They'll arrange for the transfer of funds and show you where to sign.
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Old 02-07-2007, 10:19 AM   #8
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We sold our F150 recently and our Chev D/A with truck camper about 3 years ago to a private party and all went well.

F150 Buyer had $3000 in $50 bills with a credit union envelope. I handed him the Title and he gave me the $$. He signed a bill of sale I had made up. We met at DMV and I watched him transfer title.

Chev/camper. Local party. Met them beforehand as they checked out the unit. Drove to their house to drop something off. He gave me a credit union check for $48K. All went well.
I signed off on the title and got a bill of sale, also. All went well.

You might be dealing with a person not from your area. Guess your condern is if the title and registration match the VIN on the unit and elsewhere.

Cashier's checks, phony or not can be a real problem. A "real" one can be cancelled by the buyer within 2-3 days (?) and you are left holding the bag.
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Old 02-14-2007, 03:22 PM   #9
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I bought from a private seller. The coach was financed through B of A and I bank there as well. He and I went to the bank and all I had to do was do an electronic transfer of funds to pay off his loan balance. He had about 20k in equity so I paid him that w/ certified funds. I obtained a bill of sale and we went to the TN DMV and got a 30 day temp. operating permit because TN requires the seller turn in his plates. We also recorded a transfer of ownership document in TN but did not register it there because I live elsewhere. B of A mailed seller the clear title and he signed it off and mailed it to me. No problems.
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Old 02-14-2007, 04:05 PM   #10
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We sold our MH privately in November 2004.

<UL TYPE=SQUARE><LI>The buyer saw my ad on RV Trader Online, called me and we negotiated the price sight unseen.<LI>I called the bank and requested that the title be sent to my local branch location.<LI>One week later, the buyer had a 3:00 PM flight into the Pittsburgh Airport and had a cashier's check in hand.<LI>He test drove the MH from the Airport to the bank (40 miles).<LI>Handed me the check at the bank, I paid off the note and recieved the clear (unencumbered) title.<LI>Went to local notary to transfer ownership where the buyer bought a transit tag.<LI>By 5:00, he was on I-80 headed back to Connecticut.[/list]
From the seller's perspective, it was a smooth transaction.

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Old 02-14-2007, 05:03 PM   #11
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you were very lucky.
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Old 02-14-2007, 06:52 PM   #12
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Sold our MH in 2000 using same process as Hondo.
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Old 02-18-2007, 08:41 AM   #13
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Yes, it is important to have financing, title and test drive the MH. But do not forget that the lemon law does not apply in most states if you buy from a private individual. The service record is very important. And if you believe that a title can be wrong. Then think about a MH that has not been properly maintained. I purchase from a private individual and double checked everything I could. But then the story begins. So be careful and double check what laws will help in the event something major is wrong.

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Old 02-18-2007, 09:10 AM   #14
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Thanks everyone for your replies & advice. As I am from out of the USA I think the dealer approach will work best for us. A couple I have spoken to will even let you stay on site for a day or 2 to thoroughly test and learn the systems prior to departing which is also good peace of mind.

Keep it between the lines!!
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