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Questions about buying used coach directly from owner


Backpacker

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I am considering the purchase of a Class A coach directly from an owner and need to understand how to safely close the transaction. My questions are these:

 

Should I have some sort of closing agent, such as an attorney?

How do I assure any lien holders are paid off so that I have clear title?

Assuming this is a private sale, will I owe sales tax and, if so, when and how does the state collect it?

 

Thanks for any advice you might offer.

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Since it is a vehicle, with normal vehicle type title, I see no reason to have a "closing agent." If you have concerns, you could ask that the seller's signature on the back of the title be notarized.

 

When the seller hands you the signed vehicle title that should mean it is clear of leins. The owner normally won't have possesion of the title on a vehicle with a lein as the lein holder will be holding the title. The local DMV office should be able to confirm it is a clear title.

 

In most states you will owe sales tax. On private sales, any sales tax due is normally collected as part of the registration process.

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If your seller has clear title then go to sellers bank and hand them your payment. I'm sure you'll need some of certified funds or cash. I personally would want cash as even a certified check could be fraudulent.

 

Others are correct that the seller should only have a title if there are no liens

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If you choose an RV of relatively low age you most likely will have one that has an outstanding loan and so a recorded lean on the title. Most lean holders also keep the title in their possession. Probably the most secure way to do this would be to use some type of agent, either an attorney or a licensed vehicle dealer as many of them will do this service for a small fee. But it is not critical as you can protect yourself by doing the transaction at the office of the lender who holds the lien. In most cases, if you contact the loan officer where the title is, you can verify exactly what is owing and make arrangements to close that sale at the bank in the presence of the loan officer.

 

In this case the loan officer will hold the title and the loan document and you, with the seller then appear before him and you pay of the loan remainder and any money over that amount you give to the seller. At that point the seller will sign off on the title which is supplied by the loan officer, and the loan officer also gives to you a document for removal of the lien from the title and he gives the loan document, marked paid to the seller.

 

It isn't difficult to arrange if you are paying cash. If however you are borrowing against the title in order to buy the RV and it has a loan against it, you would probably be better off by using an agent. What you look for is an escrow agent as that is the business that they are in.

 

Here in Texas the sales taxes due, if any will be collected at the time that you register the vehicle. If you are buying across state lines you can usually drive for up to 30 days with just a copy of the bill of sale and if you buy here in TX you simply keep a copy of the bill of sale with you and use the license plate that is on the used RV.

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