I am looking at a boat that is 8 hours away from me. The seller has it financed but the issue is he has it financed through a place 15 hours away from him.
In the past when buying a boat that had a lien on it I would just go look at the boat and if I wanted to purchase it I would just go to the local bank the boat was financed at and write the check to them for payoff and another to the seller for the remainder and they would get me the lien release and titles.
How would this work with his bank located so far away?
I feel I would just have to get a cashiers check (due to the amount), put trust in him to pay off the lien, then send me the lien release and titles? That seems like putting a lot of faith in someone far away I do not know.
Secondly if I get a cashiers check and do not buy the boat can I just return the cashiers check to my bank and they will put the funds back in my account?
I do not plan to finance...but maybe it would be easier just to let the bank handle all of this?
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