Private party sale with existing loan
We just put our current coach up for sale as we are taking delivery of our new coach that is on order in November. Question I have is I have an existing loan on the coach we are selling. What is the best way to close the transaction since my loan is going to need to be paid off by proceeds of sale (we are positive on it so I will also be getting some cash after loan is paid)? I have the ability to payoff the loan right now, so wondering if better to pay off loan to then have a clear title and just sign it over once buyers funds clear my bank? Not sure how we would complete transaction with loan right now? Do you get funds, then wire to lender, then get title to sign over?
Thanks for any input!
2017 Dutch Star 4310 (on order)
2014 Jeep Grand Cherokee Overland