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Selling a boat with a note?

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Old 04-22-2004, 04:10 PM
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Question Selling a boat with a note?

So, what's the exact process here?

Do I collect funds from the buyer and then pay off my bank, subsequently receiving title and then transferring to new owner/lien holder...

Or does the buyer deal directly with my bank and I get the leftover funds from the bank?

How does this work exactly?

Thanks!
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Old 04-22-2004, 04:18 PM
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Easiest most headache free way to do it... Both parties go to the title holding bank (Call ahead so they can have the title in hand. Sit down and do the deal right there. Otherwise its escrow time baby!
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Old 04-22-2004, 04:22 PM
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Thanks!

The bank's in California...could be a little difficult.

Escrow, it is then.
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Old 04-22-2004, 04:29 PM
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Or, have buyers bank make 2 cks. One to your bank for the exact payoff and/or per diem and one to you for your equity. Buyers bank should contact your bank directly. They will exchange payoff info and you just confirm the numbers are agreeable.
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Old 04-22-2004, 04:30 PM
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What bank?

I am in CA. just send me the money and I'll see that its gets to the proper channels!


And buy proper channels I mean I will be spending it on beer and "Women with questionable morals" at the London Bridge Channel this weekend.
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Old 04-22-2004, 04:32 PM
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Thanks Downtown, that would be the easiest, and no one has to pay an escrow holder.

IDRPSTF,
So, does he make out the check to "IDRPSTF Escrow Services?"
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Old 04-22-2004, 04:33 PM
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Quote:
Originally posted by Fever Mike
Oh Daze...wanna tell us what you are replacing the 25 Outlaw with?
It's going to be a little bigger.
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Old 04-22-2004, 04:38 PM
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come on spill the grizzly deatails!!! Thought you were waiting a yr.
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Old 04-22-2004, 04:39 PM
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Could it be 28ft and built by a father son team?
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Old 04-22-2004, 04:43 PM
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and make damn sure the checks are legit before doing anything....bad checks going around even when they say "cashiers check"
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