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Old 02-15-2017, 06:57 PM   #15
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Usually a wire transfer will clear on the same day. If it is made later in the day then it will clear the next business day.

This can be more complicated if they are taking a loan where their bank wants to be the lien holder. In that case their bank will usually want to do only one wire transfer / cashier check to be paid directly to the current lien holder. The current lien holder would then cut a check to you for any additional funds. Also the new lien holder would expect the title to go directly to them.

Good Luck


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Old 02-15-2017, 07:00 PM   #16
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A lot of good advice!

I don't believe the bank (lien holder) needs to sign the title. When the bank receives the payoff, you will get a lien release note that you will give to buyer and the signed title with your signature as a seller.

As has been said, just make sure you have the cash for the coach or the check has cleared before you give up possession of the coach. The title can be mailed later to the buyer which is quite normal.

All the best!

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Old 02-16-2017, 12:00 PM   #17
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After having my ad posted for about 2 weeks we finally got our first prospected buyer to come by and look at it. They put a deposit down on it to get the financing setup and to deliver their current sold motorhome. They are to come back on Monday to finalize the deal. They originally wanted to do it with cash, but I said I would have trouble putting that much cash in the bank. They then agreed to wire transfers instead.
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Old 02-16-2017, 01:10 PM   #18
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Cash in not your friend in amounts over $10,000 when trying to make a bank deposit. Furthermore, if any of the bills are determined to be counterfeit, that would create an additional headache. Congrats, it sounds like you've successfully sold your motorhome.

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