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Old 05-27-2016, 08:27 AM   #1
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Process for private rv sale

Morning All,

I am looking to sell my motor home as a private sale. There is still a loan outstanding. What is the process for selling to a interested party that will protect both buyer and seller.

Thanks and enjoy the holiday weekend.

Dan
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Old 05-27-2016, 10:34 AM   #2
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If possible, meet the buyer at the lien holder's location. They can see you pay off the loan and get confirmation from the lien holder. Any extra goes to you. I also do the same thing at the DMV. I go with the buyer right then if possible and transfer title.
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Old 05-27-2016, 11:40 AM   #3
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Some states have 3rd party companies that can provide title services. I like using them instead of the DMV.

Meeting at your lien holder or the buyers finance source can work. Credit Unions are very good for handling such transactions.
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Old 05-27-2016, 11:57 AM   #4
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Call the lienholder and ask what you need to do. Call the DMV and see what their requirements are. They vary from state to state. Also a good idea to see what your insurance says about coverage during transition.

Good luck selling your unit. We bought two of ours from private sellers.
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Old 05-28-2016, 10:22 AM   #5
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Check first with your lien holder for specific instructions and get any and all forms needed.

Also ask for them to provide any pre filled out with a report showing all dollar amounts needed for paying off or transfer to new party.

Ask if loan can be transfered and if it can collect forms and applications for that also pre filled out except for buyers name.

Collect contact information and applications so potential buyers can call and apply for the loan if possible.

Many may need that loan so having the ability to assist may be a tipping point to the sale.

Dmv stuff is simple but lien holder is the hard part so focus on their direction as they do this every day.
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Old 05-28-2016, 11:16 AM   #6
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Afternoon All,

Thank you for the information, I can honestly say most of it was new to me, having never been down this road before. Thanks again, I appreciate it.
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