How to sell an RV?

[Radshooter]

We are putting our 1999 Travel Supreme up for sale. We still owe $12,xxx on it, and are asking $15,000. So far we have had a few serious people look at it.

Here is my question: We have never sold a car, truck or anything with a title before. How do we do it?
Do we take what we get for the sale, send it to the bank for payoff, get the title from the bank, then send title to the new purchaser?
What about the registration for the tag?

Sorry to be such a newb, but want to do it right.

Thanks for any input.

Steve

 

[Bill Stockard]

We are putting our 1999 Travel Supreme up for sale. We still owe $12,xxx on it, and are asking $15,000. So far we have had a few serious people look at it.



Here is my question: We have never sold a car, truck or anything with a title before. How do we do it?

Do we take what we get for the sale, send it to the bank for payoff, get the title from the bank, then send title to the new purchaser?

What about the registration for the tag?



Sorry to be such a newb, but want to do it right.



Thanks for any input.



Steve

A lot depends on the state you are located in at the time of the sale and the location of the lein holder. I live in TX and if I were buying your TS and the bank (lein holder) is out of your town, I would have my bank call the bank (lein holder) to draft my account and enclose the released title in the draft to my bank. If the title is in order, my bank would transfer the $15,000 to your bank which would satisfy the lein on the TS. The bank (lein holder) would send the remaining balance to you. (Depending on how good a customer I am at my bank, there will be fees I will have to pay to my bank for this service. )



If the bank (lein holder) is in your town, I would bring a Cashier's Check from my bank for $15,000 and we both would go to the bank (lein holder). The bank would verify the validity of my Cashier's Check, sign the release on the title, you would sign the title as the seller, and hand it to me. The bank would give you the remaining balance.



I would take the released title and a title applicaton to the county tax office where I reside, transfer the title, pay the required sales tax, transfer fee, registration fees, and get a new license plate.



Bill

 

[Radshooter]

Thanks Bill. That helps a lot! Unfortunately, we are in Arizona, and the Well's Fargo bank is in South Dakota, so we will probably be doing it through the mail.
At least now we have some ideas.
Thanks again...

 

[Bill Stockard]

Thanks Bill. That helps a lot! Unfortunately, we are in Arizona, and the Well's Fargo bank is in South Dakota, so we will probably be doing it through the mail.

At least now we have some ideas.

Thanks again...

That shouldn't be a big problem for a cash buyer. He could go through the same steps as I outlined in my first paragraph. If the buyer wanted to finance your TS, he would have his financing institution handle the title transfer through your Wells Fargo Bank in SD. You'll receive your balance after the lien is paid off at Wells Fargo. Do not let the buyer have possession until the title is released and it has been verified by Wells Fargo.



The easiest way is to payoff Wells Fargo ahead of time so you sill have the released title in your possession. All you have to do is sign it as the seller after the buyer's funds (check or Bank Cashiers Check) have been approved.



Bill

 

[Bill Stockard]

Try sending a Private Message to TDR member Barry. He trades, buys, and sells trailers around the country for a living. He might have a better insight than I.



Bill

 

[Radshooter]

Thank you, kind sir. You have been a fountain of information.