Buying another F-Body, Quick ? about Private Party Purchase
06-13-2007, 12:30 AM
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Buying another F-Body, Quick ? about Private Party Purchase Can someone explain to me how this works? The T/A that we're looking to purchase this weekend is still technically owned by the bank. How exactly do you go about making this purchase when the party doesn't have the title?
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06-13-2007, 12:36 AM
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The bank will have to release the title to the seller after the transaction is processed. You will have to wait and trust that the person will send you the title. It shouldnt be a problem though. Make sure you get a bill of sale. Then in a few weeks the seller should mail you the title. You wont be able to register for plates till you get the title. The sellers bank should be able to give you a lien release, or possibly some sort of documentation. That is my experience, Im sure others will chime in. Hope that helps.
06-13-2007, 09:40 AM
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you can usually get the bank to send the title to a branch near you (or atleast as near as possible). then do the transaction at the bank and walk out with the title in your hand.