Quote:
Originally Posted by Mvy
Correct. I like to deal with a seller who can show me a physical piece of paper title that has no bank ownership. It just means the transaction is complete once you hand over the money. Otherwise, you can be tied up for weeks waiting for pay off and getting a hold of your title. Others may not be so cautious about this, but I have had some horror stories of my own with titles and wont be dealing with a title that has a bank owner on it again unless we do the deal at the bank and I can see the loan pay off happen.
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Easily avoided...just the buyer and seller go to fedex with the payoff paperwork in hand along with cashier check and physically watch him send it. I have sold 7 cars this way all with no issues.
Dave