Bike sale dilemma concerning title - What would you do?


30 replies to this topic
  • Huffa 2

Posted August 17, 2006 - 01:43 AM

#1

I'm curious of the opinions of how you guys would go about this situation.

I was already to purchase a 03 XR at a fantastic price (guy needs $$) and while talking to him I mention the title (he has it listed as clear) and he comes out and tells me the bank still has it yet and once he gets my money he won't be paying it off immediately.

I said DUDE, :applause: you can't do that :applause:, if I pay you for that bike and take it home, legally the bike is still yours and if you don't pay it off for a few months I can't street legal it. NO WAY can I purchase your bike unless you pay the bike off.

So anyway he said he would pay it off right away and I'd get the title mailed to me in about 2 weeks or so. I STILL DON"T LIKE THAT SET UP and the only way I'd take the bike is if I walk into the bank with him and see the payoff transaction and also let it be known to the bank that I am the buyer.

I live 5 hours away and that's why I'm real concerned that everything is done right. He's from Rode Island, I'm in Pennsylvania.

My other concern is should I have the bill of sale notarized at a notary or something? Is there some official statement I should get from notary stating that the bike is now mine and mentions the bank transaction concerning title or can all this be done at bank?

Can we transfer the title right at the bank? I don't understand if the bank has the title, why does it take 2 weeks for him to get it if he is paying it off? I know it always does work that way but WHY? Is the title sent somewhere else 1st? :thumbsup: Must the title go somewhere to the state 1st, then back to him and then I sign it and we go back to the notary then? :ride:


This is the 03 XR with 94 miles on it.

http://i16.ebayimg.c.../f3/f5/f4_1.JPG

  • akuleboat

Posted August 17, 2006 - 03:10 AM

#2

I wonder if he could get a lein release from the bank the day he pays it off and go straight to the Motor Vehicle department right away and get the title. I have dcone that before. Each state is different.

  • nxridge

Posted August 17, 2006 - 03:31 AM

#3

I have learned in the past , " no clean title , see ya......."

I would in no way give anyone money upfront on a promise.
Great looking bike , and im not saying a guy whom i do not know
is not on the level , but is it worth your cash to find out ?

If everything was fine and he did pay it off , you have no way
to know how long the bank or dmv will drag there feet to get a new title produced.

  • atkxr600

Posted August 17, 2006 - 03:50 AM

#4

I would insist on meeting him at the bank, do the money exchange there and leave the bank with a clean title in my hand. Otherwise, walk.

  • ulmanb

Posted August 17, 2006 - 03:55 AM

#5

I agree, go to the bank with him to pay off the title. The bank will either sign off on the title or will type up a statement indicating that it is clear.

If he cant/wont do that, I would move on.

  • willnevergrowup

Posted August 17, 2006 - 04:03 AM

#6

I have never bought a used bike with a lein, but a couple of used cars. I went to the bank with the person and paid it all off and they gave a lein release. Took the signed title and the lein release to DMV and left with a new title with my name. It's not as easy as a "real" clear title, but not to horrible, especially for the right price. Good Luck and let us know what you do!

Elmer out

  • ProMed

Posted August 17, 2006 - 04:18 AM

#7

Be very careful with that guy, he has zero feedback and signed up with that username on eBay less than 10 days ago.

:thumbsup:

  • Huffa 2

Posted August 17, 2006 - 06:14 AM

#8

I have learned in the past , " no clean title , see ya......."

I would in no way give anyone money upfront on a promise.
Great looking bike , and im not saying a guy whom i do not know
is not on the level , but is it worth your cash to find out ?

If everything was fine and he did pay it off , you have no way
to know how long the bank or dmv will drag there feet to get a new title produced.


Oh believe me, I agree with everything you are saying and just am posting this to see if there are any other methods.

I told the guy more then likely no one will want the bike if it isn't paid off and no title.

  • Huffa 2

Posted August 17, 2006 - 06:21 AM

#9

I would insist on meeting him at the bank, do the money exchange there and leave the bank with a clean title in my hand. Otherwise, walk.


Yep, that is where I am at right now and waiting to hear from him. He's in a real mess (he asked for it though :thumbsup:) because another guy bid on it and won it but I think he's afraid to tell them that the title is not clear.

I was the 1st to email him before any bidding and he said he would hold to my offer but who knows now since he got a few 100 more for it. He did get bqack to me though and seems to still want to work with me and like a few of you said, I will do ..........If no can get title, just move on.

  • Huffa 2

Posted August 17, 2006 - 06:24 AM

#10

Be very careful with that guy, he has zero feedback and signed up with that username on eBay less than 10 days ago.

:ride:


Yea I saw that and he did admit he doesn't know much at all when it comes to ebay dealings. He just got back from NC and his wife left him, no furniture in the house, has a ton of bills and owes on this bike yet too.

I don't know, maybe he's a doper or something? :thumbsup:

So your bike is definitly sold?

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  • Triple B

Posted August 17, 2006 - 07:15 AM

#11

Run Huffa Run

I had a similar experience with a guy off Craig's list when I was looking for my XR. He still owed money to Honda Financial and they were in Texas. I told him that I would give him cash for the bike when he had the pink slip in his hand.
He ended selling it to somebody else who took the bike with out the pink slip. Chances are it would all work out but that is not a risk I would feel comfortable taking.

Good Luck

  • Huffa 2

Posted August 17, 2006 - 07:29 AM

#12

Run Huffa Run

I had a similar experience with a guy off Craig's list when I was looking for my XR. He still owed money to Honda Financial and they were in Texas. I told him that I would give him cash for the bike when he had the pink slip in his hand.
He ended selling it to somebody else who took the bike with out the pink slip. Chances are it would all work out but that is not a risk I would feel comfortable taking.

Good Luck


Yea, me either. If the bike came up stolen or something they could take it away from you and you'd be out the whole amount you payed for the bike. Hell, the guy could take my money, not pay it off and skip town, then I'd be in deep trouble.

  • ProMed

Posted August 17, 2006 - 07:37 AM

#13

So your bike is definitly sold?

Not yet, have a guy checking it out this weekend, another sometime next week, and one guy has made a full offer but can't pick it up and pay for it until early Sept. Also a ton of offers from overseas guys named Mecacca and Habeb!
If she doesn't sell then I guess we were meant to stay together! :thumbsup:

  • Huffa 2

Posted August 17, 2006 - 07:49 AM

#14

Not yet, have a guy checking it out this weekend, another sometime next week, and one guy has made a full offer but can't pick it up and pay for it until early Sept. Also a ton of offers from overseas guys named Mecacca and Habeb!
If she doesn't sell then I guess we were meant to stay together! :thumbsup:


Let me know for sure if the guy buys it or not concerning this weekend. Ya never know, I might sell mine and have the doe for you then.

  • pburke

Posted August 17, 2006 - 07:59 AM

#15

walk away from it - there are plenty more bikes.

  • pburke

Posted August 17, 2006 - 08:01 AM

#16

Not yet, have a guy checking it out this weekend, another sometime next week, and one guy has made a full offer but can't pick it up and pay for it until early Sept. Also a ton of offers from overseas guys named Mecacca and Habeb!
If she doesn't sell then I guess we were meant to stay together! :thumbsup:


I still want your seat and brake :ride:

  • Huffa 2

Posted August 17, 2006 - 08:02 AM

#17

walk away from it - there are plenty more bikes.


Yea, I will, unless he coughs up the title, then there is no problem, right?

  • motochris

Posted August 17, 2006 - 10:55 AM

#18

Were you kind enough to email the winning bidder and tell him that the bike doesn't have a clean title? I would.

  • Boudroux

Posted August 17, 2006 - 11:05 AM

#19

Actually this isn't that big of a deal. Just have the guy order a payoff demand statement from the bank. On it will be the balance owed and where to send payoff. Hopefully the balance owed is less then the negotiated price. If the balance owed is less then the buy price it is a piece of cake. Have a bill of sale completed and signed by both parties. Take possession of the bike and send certified funds from your account to the bank in the amount of the payoff along with a copy of the bill of sale. They will release the lien and send you the title. Once you get the title pay the guy the difference between the payoff and the negotiated purchase price. It will definitely take a couple weeks for the bank to send the title/lien release.

  • Huffa 2

Posted August 17, 2006 - 11:09 AM

#20

Were you kind enough to email the winning bidder and tell him that the bike doesn't have a clean title? I would.


I would but I might be dicking myself of the sale then.

Hmmm, I am curious if the winner is going to purchase it. I have not heard back from the guy yet today.





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