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HOWD YOU LIKE THAT!?!?!?!
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482 Posts
Discussion Starter · #1 ·
I have a friend that is thinking about getting a bike but the guy that's selling the bike that he wants says that the bank still has the title since it is not paid off yet(the bank is out of state too). How do you approach these type of sales? The more details the better. Thanks
 

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STEW'S LOVE CHILD
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20,003 Posts
if he is taking out a loan the bank in which he is taking out the loan will handle the paperwork. If he is paying cash have him (or the seller) request a payoff from the sellers bank and then send them a check for that amount and give the seller the difference. If the seller owes more than the selling price make sure they send the money in at the same time. The bank will forward the title (or a letter stating it was a paperless title) to the bank/buyer then all they have to do is give it to the DOL and pay the tax and all is good. It's pretty darn simple
 
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