JohnnyBucki Posted February 13 Report Share Posted February 13 (edited) Looking for some advice on selling our Class A. We have a lien with Bank of the West and are not in a position to pay it off prior to selling. A couple questions: Any sample sales contracts or templates? Any ideas on handling the payments when Bank says it takes 3+ weeks after payment to release the title to me? Anyone use a bank, etc., as an escrow agent to handle the transaction? Will be posting the coach here shortly. TIA! Edited February 13 by JohnnyBucki Quote Link to comment Share on other sites More sharing options...
Kirk W Posted February 13 Report Share Posted February 13 I would start by contacting someone at Bank of the West. If you have a contact there that you have talked with in the past that is where I'd start. One complicating issue would be if the buyer is looking to finance it as well. Most likely the buyer will need to make some arrangement with his bank to deal with Bank of the West, even if he is paying cash since the most common way of dealing with such transactions is the use of an envelope draft. Bank of the West has over 600 branches so the 3 weeks lag time for clearing title probably means that it isn't physically in your local branch. The other complication that you may run into is if there is a difference between what you owe and what a buyer is willing to pay. Quote Link to comment Share on other sites More sharing options...
Sculptor Posted February 13 Report Share Posted February 13 BOTW is notoriously hard to talk to. Even the internet says so. My experience has been almost zero contact. BUT if you call right when they open, I have had some luck there. That works more often than not for me. I was calling a couple of years ago about the same thing, our title. Quote Link to comment Share on other sites More sharing options...
DJohns Posted February 15 Report Share Posted February 15 I bought a boat that was financed by BOTW. Even though they did not give me the title they insisted on a cashiers check. They said they would mail me the title. Three weeks later the seller said he got the title and would mail it to me. I would never buy from someone that had their vehicle mortgaged by BOTW. Quote Link to comment Share on other sites More sharing options...
rpsinc Posted February 15 Report Share Posted February 15 I have had a couple deals with BOTW and avoid them as much as possible. I am an advocate of making payments to myself so that I can use those funds when needed, unfortunately the down side is that when I have needed to finance, there is little to no history of loans and payments, so I have been denied loans for this reason. This is the world we live in. Even the banking institution has declined me a loan due to insufficient credit history, although I have more than sufficient funds in THEIR institution, which they did not even look at or consider, they used credit history only. Imagine where handshake deals are now going???? Quote Link to comment Share on other sites More sharing options...
Kirk W Posted February 15 Report Share Posted February 15 4 hours ago, rpsinc said: Even the banking institution has declined me a loan due to insufficient credit history, although I have more than sufficient funds in THEIR institution, which they did not even look at or consider, they used credit history only. If you were to make those deposited funds collateral for the loan I am sure that they would be happy to loan you money. I have a friend who was in a similar situation and so used an annuity as collateral for a loan and had not difficulty at all. Quote Link to comment Share on other sites More sharing options...
rpsinc Posted February 16 Report Share Posted February 16 4 hours ago, Kirk W said: If you were to make those deposited funds collateral for the loan I am sure that they would be happy to loan you money. I have a friend who was in a similar situation and so used an annuity as collateral for a loan and had not difficulty at all. While that is an option, it usually requires a higher interest rate on the loan and I really dont want to give them my $ by way of interest that bad. If they dont want to do business with me, I will keep doing what works for me. BOTW approved us for a 5er about 12 years ago, and promised they would take care of all of the necessary steps to transfer the title, as we were in So Cal at the time and the coach was to be registered in Nevada. They totally FAILED in their promise and my DW had to make 3 trips to Nevada DMV to complete the transfer. Of course they would not even consider compensation for our efforts to complete their commitment. I know they do alot of loans for Good Sam, and other RV related financing but beware anyone that considers using them. We had it all in writing and they didnt care. Quote Link to comment Share on other sites More sharing options...
Kirk W Posted February 16 Report Share Posted February 16 13 hours ago, rpsinc said: I know they do alot of loans for Good Sam, and other RV related financing but beware anyone that considers using them. We had it all in writing and they didnt care. I don't understand what that has to do with the original question? On 2/13/2023 at 10:39 AM, JohnnyBucki said: Any sample sales contracts or templates? Any ideas on handling the payments when Bank says it takes 3+ weeks after payment to release the title to me? Anyone use a bank, etc., as an escrow agent to handle the transaction? I'm not sure if we have helped any but we will do our best to do so. Quote Link to comment Share on other sites More sharing options...
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