Steps for selling RV privately

[jgcarter56]

What is the process for selling privately? I'm assuming there's more to it than getting a bag full of money and signing over the temp title (if the bank still owns it). What if you don't have a title document? I saw an eForm for an RV bill of sale. I suppose that's needed or something like that. Would you work with your bank to do wire transfers? Any details would be great. Thanks!

[Sun_Seeker]

Originally Posted by jgcarter56

What is the process for selling privately? I'm assuming there's more to it than getting a bag full of money and signing over the temp title (if the bank still owns it). What if you don't have a title document? I saw an eForm for an RV bill of sale. I suppose that's needed or something like that. Would you work with your bank to do wire transfers? Any details would be great. Thanks!

I feel, that the very first thing...that being that you will receive the money...and I don't mean by that..handed a monetary instrument...even cash...nope..

When I sell any car or motorcycle, or a T.T., and someone wishes to shake the hand...and seal the deal...I insist..( no further 'negotiations', on this point) that we do ALL the payment transfer to my control...and my passing the ownership documents to the buyer...at their bank of business, (the branch) and that we conduct all transactions in the presence of the bank Manager (in their office). It is the Bank Manager that will assure me of the identity of my purchaser...and that the funds are liquid and in the account for the purchase amount, and that when I ask the purchaser sitting directly in front of him or her, to please either transfer direct, or create a Bank Draft in my name, (which is just as secure as actual money, IF YOU ARE IN PHYSICAL POSSESSION OF IT!, and not the purchaser...then in a time of rampant purchase and buyer monetary fraud...you are TOTALLY secure in the absolute knowledge that as you hand over the signed vehicle transfer-of-ownership documents, you are FULLY and legally paid.

If a person hands you the money (even if it is cash, and for the asked for purchase price, you are NOT GUARANTEED, that part of it, or all of it, might be totally counterfeit bills. The technology available today, can fool even so called experts. If, you take my advice, you will never face even that possibility..for it is the bank, that will be your go between, (the purchaser's bank!) and the Bank Manager shall be the one, as intermediary, to either place the funds from his account directly as a electronic transfer...or you have a Bank Draft created..and take that TO your bank for deposit.

For those that do not know about Bank Drafts...is this...for a bank to issue one in your name...they must (and do at the time of creation) transfer out from the purchaser's account to a/their Bank Branch Escrow Account, which now, the purchaser has NO CONTROL OR ACCESS to...whereby a Certified Check can at ANY TIME, even one minute after being handed to you...can be to have a STOPPED PAYMENT placed on it...and for that reason, Certified Checks are NOT worth the paper they are printed on. Only a Bank Draft, (as long as it is in your possession and properly made out to you..(your name, your address, etc) ONLY YOU can deposit that money...and it can NOT be stopped-action ed against by the purchaser.

The money is gone out of their account. BTW , while on the topic of Bank Drafts..never LOSE a bank draft that you have made for another...for YOU wanting to purchase anything...for if you do...you can NOT stop action on a Bank Draft once it is OUT OF YOUR CONTROL AND POSSESSION!...and if anybody can find it...and spoof a bank that they are Mr. Jones...then sorry that money is gone. Only you can take the Bank Draft that you created and had made out...whereby the money was taken from YOUR account to be placed in your Banks Escrow Account...and if you go back and surrender it, they will then PLACE your money (funds) back into your account from which it was taken. So...never have a Bank Draft created to only sit at home in a drawer, etc.

One more (I know...a long post..but I hope it is totally informative for the reader..), is that if you are after a so and so trailer...at a dealer...and they are asking $4,000.00 dollars more than what you want to offer (just for an example) CREATE a Bank Draft made out to that very dealer....for the sum YOU WISH to make a firm offer on.

In the course of sitting at their desk, after viewing the T.T. or R.V.... and you KNOW you want it...pull out the Bank Draft that is made out to that very dealer...and show him or her. Trust me..in how visually powerful that subliminal offering is...for not only does it show the deal can be written up at that very moment...but that you absolutely have the funds...the dealer will know at that very moment, there is no chance of financial fraud he she could be facing, dealing with you as an unknown....and when you hand that to him or her...and they hand you your paperwork (that has been legally vetted to show unobstructed and CLEAR title to,...the deal is done.

Of course, you would only show him or her that Bank Draft, to show the funds have been put into Escrow...for you do not have any clear title to that RV at that time....but trust me...that Bank Draft dangling under his or her nose...will get you that R.V. or T.T. at that price... Ask me how I know...well, you probably don't have to...lol

Stay safe out there selling and buying...it is a much different world , that the '40's and the 50's...

[jgcarter56]

Sun_Seeker, thanks for the detailed information. I'd never heard of a bank draft. I was thinking wire transfer or cashier's check. Also, the idea of doing it all at the purchaser's bank makes sense.

What about paperwork? I don't have clear title and the bank that has my loan said they would send me the title after I paid the loan. I guess I'd send that to the buyer once I get it.

[Sun_Seeker]

Originally Posted by jgcarter56

Sun_Seeker, thanks for the detailed information. I'd never heard of a bank draft. I was thinking wire transfer or cashier's check. Also, the idea of doing it all at the purchaser's bank makes sense.

What about paperwork? I don't have clear title and the bank that has my loan said they would send me the title after I paid the loan. I guess I'd send that to the buyer once I get it.

Hi there, yes, you will NEVER be defrauded if you have the purchaser's bank manager, make out the Bank Draft to YOU....and after watching you hand over the T.T.'s transfer-of-ownership paper's that are inspected and approved in front of him or her, with the nod of the their bank client...both go home..non-defrauded

What you do to answer your question:

...is to contact your Bank Branch Manager and/or Loans Officer, that has the lean registered against your T.T and/or R.V. and make it known that you are going to conduct your business (of Sale) in the purchaser's Bank Manager's office. They (at your request) can give/send you an official CURRENT LOAN STATEMENT (printed) that you would take to his/her/their bank branch,...and surrender a copy to their Bank Manager...who would then direct deposit to your bank regarding the loan account, the payment amount-deducted (from the agreed purchase price, to satisfy, and retire the outstanding LEAN amount, right at the time of your transacting with YOUR purchaser! That is how it is done...and then the purchaser(s) also knows, right then and there as they pay you in full...that the LEAN LOAN has been taken care of by none other than their own intermediary...their trusted Bank Manager that of course knows them...

Hope this helps. Do what I suggest...and you will NEVER, face fraud in anything of matters over a thousand dollar asking or not. Today...there are so many opportunities for sales and monetary fraud, that would make you break out in a cold sweat. I'm in the industry...that thwarts it...as much as can be done...just like the detailed information I provided you and any other reader. You simply can NOT be defrauded, if the advice is taken to heart.

[AJMike]

These posts are interesting. Personally I never would have thought about using a bank and the bank manager to process the sale since it never occurred to me that a bank manager would want to be bothered with all of this.

If I was the seller I would have thought of picking a lawyer to do the processing and if I was the buyer I would also want to pick the lawyer, creating an issue about whose lawyer to use. Perhaps the bank is the best choice after all.

[Sun_Seeker]

Originally Posted by AJMike

These posts are interesting. Personally I never would have thought about using a bank and the bank manager to process the sale since it never occurred to me that a bank manager would want to be bothered with all of this.

If I was the seller I would have thought of picking a lawyer to do the processing and if I was the buyer I would also want to pick the lawyer, creating an issue about whose lawyer to use. Perhaps the bank is the best choice after all.

Hi there,

As I would be at the purchaser's bank branch with him/her/them, this would be a 'service' that the Bank Manager would execute for their client. Also, bank staff, are always being trained and procedure updated to thwart fraud upon their clients, so would be most happy to help their client have a smooth and stress free acquisition of their new T.T. or R.V. or boat...or, or, or...lol. I have done this for decades, and am glad to share the 'M.O.'.

Lawyers, need no part in this...for this is simply Due Diligence of Sale. Both the seller...and the buyer (for this would establish that both are legitimate transactors in the sale and procurement) immensely benefit in this stress-free and fraud-free interaction. I didn't bother to post that if a buyer presented themselves to you..and you insisted that the transaction...the funds come to you, the transference-of-ownership comes to him/her/them, at their banking branch place of business--->and they were indeed fraudsters hoping to set up a sting...you would never hear from them again, past the first phone call, or knock at the front door, in response to your For Sale Sign, or other form of advertisement. My M.O. filters out at the get-go, all intention of any criminality as concerns a potential 'buyer/interested party. Hope this helps.

Safe, happy, selling and acquisition, folks!

[HappiHenri]

Beyond all the cautions on the funds transfer - you also have to consider DMV considerations. Pertaining mostly to automobile sales - apparently some who buy a used car from a private party do not bother transferring the title or registration right away. The reason they do that is because they believe that they can drive the purchased vehicle under the registration, plates and insurance of the seller. So the recommendations I have read include:

When selling a vehicle privately - after the funds transfer is completed satisfactorily - go with the purchaser to the DMV and ensure that the title and registrations are both transferred immediately - at the DMV office. You want to be sure that there is a legal trail of transfer of ownership so that no liability can come back against you should the purchaser drive off and immediately run over a child or something crazy.

If an out of state purchaser make sure that you at least:
> remove and keep the vehicle license plates. The purchaser should bring his own.
> Do NOT give the purchaser your registration or insurance cards. You keep them.
> go immediately to your DMV and fill out required transfer of ownership forms.

[Goodspike]

Originally Posted by Sun_Seeker

When I sell any car or motorcycle, or a T.T., and someone wishes to shake the hand...and seal the deal...I insist..( no further 'negotiations', on this point) that we do ALL the payment transfer to my control...and my passing the ownership documents to the buyer...at their bank of business, (the branch) and that we conduct all transactions in the presence of the bank Manager (in their office). It is the Bank Manager that will assure me of the identity of my purchaser...and that the funds are liquid and in the account for the purchase amount, and that when I ask the purchaser sitting directly in front of him or her, to please either transfer direct, or create a Bank Draft in my name, (which is just as secure as actual money, IF YOU ARE IN PHYSICAL POSSESSION OF IT!, and not the purchaser...then in a time of rampant purchase and buyer monetary fraud...you are TOTALLY secure in the absolute knowledge that as you hand over the signed vehicle transfer-of-ownership documents, you are FULLY and legally paid.

I tend to do the exact same thing. Fake cashiers checks are far too common, so this is one way to know it's real.

As an aside, legally whoever deals with the forger loses when it comes to negotiable instruments, but with a cashiers check they are the issuer.

[Goodspike]

Originally Posted by HappiHenri

Beyond all the cautions on the funds transfer - you also have to consider DMV considerations. Pertaining mostly to automobile sales - apparently some who buy a used car from a private party do not bother transferring the title or registration right away. The reason they do that is because they believe that they can drive the purchased vehicle under the registration, plates and insurance of the seller. So the recommendations I have read include:.

In Washington state you can report the sale over the Internet--print a copy of the confirmation either to paper or PDF.

Until you do that you can be liable for whatever they do accident wise. I had a girlfriend once who sold her car to her brother. She didn't report the sale for months until I found out. He took out a telephone pole a week or so later. Those are not cheap!

[Sun_Seeker]

Originally Posted by HappiHenri

Beyond all the cautions on the funds transfer - you also have to consider DMV considerations. Pertaining mostly to automobile sales - apparently some who buy a used car from a private party do not bother transferring the title or registration right away. The reason they do that is because they believe that they can drive the purchased vehicle under the registration, plates and insurance of the seller. So the recommendations I have read include:

When selling a vehicle privately - after the funds transfer is completed satisfactorily - go with the purchaser to the DMV and ensure that the title and registrations are both transferred immediately - at the DMV office. You want to be sure that there is a legal trail of transfer of ownership so that no liability can come back against you should the purchaser drive off and immediately run over a child or something crazy.

If an out of state purchaser make sure that you at least:
> remove and keep the vehicle license plates. The purchaser should bring his own.
> Do NOT give the purchaser your registration or insurance cards. You keep them.
> go immediately to your DMV and fill out required transfer of ownership forms.

A good addendum to my O.P. Between the two...people should have all the 'intel' they need to not become transaction-fraud victims, and negate their exposure to it.

Cheers,
Sun Seeker

[Sun_Seeker]

Originally Posted by Goodspike

In Washington state you can report the sale over the Internet--print a copy of the confirmation either to paper or PDF.

Until you do that you can be liable for whatever they do accident wise. I had a girlfriend once who sold her car to her brother. She didn't report the sale for months until I found out. He took out a telephone pole a week or so later. Those are not cheap!

I read in, that they came after her for replacement cost and labor? Is that correct?

[Goodspike]

Originally Posted by Sun_Seeker

I read in, that they came after her for replacement cost and labor? Is that correct?

I wasn't clear. The accident was a week or so after she reported the sale. If it had been before she reported the sale then yes they would have come after her. And telephone poles are not cheap!