Boat Purchase: Out of state, private seller with a lien

[jmwest95]

I may found a boat finally so looking for input on how this type of purchase should/would go down? Has anyone ever done this or any part of?

The boat is a few hours away, so I'll be driving up to take a look at it and test it out later this week. It's going to the shop today or tomorrow for full mechanical check out.

My question is how do you deal with a lien, title, etc? I think the gentleman needs a sale before the loan can be paid off.

Any info would be appreciated. Thanks!

[Dusty Cox]

When you buy it go to the bank with the person to pay it off then you no everthing is clear!!!!

[dezracer1466]

Or run it through an escrow company. They are a neutral third party and will ensure no one gets screwed.

[JavRenegade20]

usually you need to send the payment in and it takes a week to get the title.. I have used local chain banks and they usually do not keep the titles at their branches... If its a small local bank I am sure they have it on site... I would make the check out (portion still owed) to the bank, just so there are no shanigans....

[jmwest95]

Thanks for the input on this!

[rooster tail]

+1 Go with to the bank.