Quote:
Originally Posted by ontwo
Huh??? Of course the lienholder is on the title. The state puts it there, and the lender keeps it. They only stamp it when the title is released.
That's a good idea. That way the buyer can give the banker his forwarding information. Now you come to an even trickier situation if the buyer is borrowing. If that is the case, the two bankers need to talk and coordinate the transaction.
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The last one I did, the buyer had a cashier's check. I made him wait until the funds cleared before I let him take the bike home. When I got the title in hand, I gave it to him.
Quote:
Originally Posted by pauldun170
My experience has been different.
I've always had immediate possesion of the title because I either bought it outright or it was done through the manufacturers finance arm. I didn't know that the some institutions held the title until payoff.
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I am dumping money into the loan as we speak. I should have the bike paid for by fall if it's not sold by then.