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Old 02-12-2014, 09:24 AM   #1
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Buying From a Private Party

This might be better in General Conversation, so if a mod wants to move it that's fine. But the question is about the non-coach details of buying a Class A DP from a private party.

First, the unit we are looking at has a loan against it. How do we ensure that the lien is released? We prefer to finance, but will pay cash if that will make the transaction easier. The seller has money to cover the upside-downness, but not to pay off the entire loan.

We live in a different state (VA) than the MH is registered in and located (FL). Do I get some kind of paper / temporary tag to get it home?

I guess these details are one thing that makes dealer or broker services valuable, but at quite a cost.
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Old 02-12-2014, 09:49 AM   #2
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if you make a deal find out from the lender exactly what the payoff will be the day you want to complete the transaction. make that part out directly to the, and getting a release letter stating the loan is satisfied by you. pay the rest to the seller also with a bill of sale stating all parts of it stating clearly he accepts you paying off the lender. if tags age good drive home. if not get a trip permit. jmo
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Old 02-12-2014, 09:53 AM   #3
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When we bought our MH the seller owed $9000 more than we paid for it. We went to his bank to complete the transaction. He put the $9000 on a credit card and we paid the bank the balance. We got a bill-of-sale from the seller. The bank sent us the title in a few days.

Just be absolutely sure the institution holding the title is involved in the final transaction!

Good luck, happy trails, and God bless!
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Old 02-12-2014, 09:55 AM   #4
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I live in Fl and sold a MH to a guy from Ohio. Fl gladly took his tax money in order to transfer the title but they wouldn't give even temp plates without a Fl insurance policy. That's something that you'll have to prepare for.
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Old 02-12-2014, 09:56 AM   #5
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We are also in VA and have bought coaches out of state twice. You will not get VA DMV to register the coach without a title. Both times we traveled home with just a bill-of-sale but had to wait until the title/s got mailed to us before we could register the coach in VA.
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Old 02-12-2014, 10:01 AM   #6
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We are also in VA and have bought coaches out of state twice. You will not get VA DMV to register the coach without a title. Both times we traveled home with just a bill-of-sale but had to wait until the title/s got mailed to us before we could register the coach in VA.
Where did you get plates to drive home with ?
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Old 02-12-2014, 10:01 AM   #7
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I would ask seller to leave plate on vehicle until you get it home and mail him the plate back if he can get a refund for turning in the plate? I would get the lender to provide you the lien release and travel with a bill of sale on your way home. I bought my last unit out of state from an individual, but his was paid off so he signed the title over to me and a bill of sale, I mailed him the plated back when I arrived home. Good luck.
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Old 02-12-2014, 10:17 AM   #8
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Where did you get plates to drive home with ?
In both cases I was trading with a dealer so used the plates from my traded rig. If I had been buying from an individual, I would have asked what has been suggested.... use their plates to get home and mail back to them.
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Old 02-12-2014, 10:22 AM   #9
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In both cases I was trading with a dealer so used the plates from my traded rig. If I had been buying from an individual, I would have asked what has been suggested.... use their plates to get home and mail back to them.
There wasn't anyway that I was lending anyone my plates. That's really hanging yourself out there should something happen.
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Old 02-12-2014, 11:42 AM   #10
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The biggest thing involved with plates/transfers/etc. is to have a signed, witnessed bill of sale, AND proof of insurance!

If something does happen before the title gets transferred in transit, your carrier would be able to go and subrogate back against the buyer's insurance. That is if you are the seller.

If you are a buyer, it's a lot less worriesome because you know you are covering your liabilities.

If the seller won't let you carry the plate to get to your destination, keep a signed bill of sale and the seller's registration information, as well as your proof of insurance on the motorhome until you get it in state, inspected, title transferred, etc.

On the subject of being upside down, when you are buying from a seller that is upside down, make sure you have direct contact from the seller's lending institution, up to and including, if you can get it, a power of attorney from the seller strictly limiting to your obtaining the title from the lender. Of course the lender will not release the title until paid, but most lenders will not mail the title to anyone not on the title without some form of legal recourse for failure to do so.

I sold my 2005 Envoy XUV to a very nice lady that came with me to pay off the note, gave me the balance in cash, we went to my bank and deposited the equity after she paid off the note, I signed a statement authorizing the bank to mail her the title directly, and she drove me back home. When she got the title transferred, she brought me back my plates. Registration and plates do not mean ownership and liability. If you have proof of the sale of the vehicle, as well as insurance required by law, you should be ok. Also, here in Texas, we are able to go online to register the transfer of the vehicle to DMV immediately upon the transaction. There is also a mail in form that can accomplish the same thing, but the online transfer of ownership is the best way to go if you have that available.


Hope this helps and good luck!
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Old 02-12-2014, 06:07 PM   #11
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In Florida the plates stay with the owner, not the vehicle. If you want a temporary tag from Florida be prepared to pay the FL DMV the sales tax. Then they will work with your home state DMV to apply the funds. Why states collect this tax when the vehicle is to be registered in another state makes no sense but that's the way it works. I just drove ours back without plates, really didn't want two DMV' s fighting over my money.
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Old 02-12-2014, 06:31 PM   #12
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Quote:
Originally Posted by MSHappyCampers View Post
When we bought our MH the seller owed $9000 more than we paid for it. We went to his bank to complete the transaction. He put the $9000 on a credit card and we paid the bank the balance. We got a bill-of-sale from the seller. The bank sent us the title in a few days. Just be absolutely sure the institution holding the title is involved in the final transaction!
This is a great way to do it IF the lender that holds the lien has a local branch. If they don't then you can use an escrow agent, this would allow you to get a loan if you so choose.
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Old 02-12-2014, 06:53 PM   #13
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I haven't done this in a long time, and it was with a car and not an RV. I had the seller contact the lienholder (a local bank) and requested the bank to have the Title available (at the bank) for signatures at the time the funds were paid to the seller and lienholder. The bank complied and I was provided the Title with the "lien satisfied" stamp and signature.
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Old 02-13-2014, 03:10 PM   #14
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Go to a local dealer and obtain one of their cardboard ad plates for free.
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