Need Help with A Transaction

[Knukle Head]

OK ... Im close.... I won the nsx on ebay (pumping fist) the guy lives in PA, I want to get the money to him AFTER I see/inspect the vehicle (Im going to make a road trip). I speak to the guy on the phoe and he tells me .."uh well it will take me a couple of days to get you the title, I have to pay the bank $5K to get the title back"
Yea right ..... There is no way in hell that I am going to go for that.
::Hang on, Im about to make my point:::
How can I make sure that I have the title, give him the money, and make sure this whole thing runs smooth.
I need experienced ...Help ...
Thank you.

 

[Cairo94507]

I would ask him who is the lien holder, (the bank) the account number and then conf. call the bank with him on the line. Confirm the amount of the lien and that they actually have the title. Pay them directly witht he present owner signing off and confirm they will send the clear title to you now.

Of course if he deals with a major bank, B of A, Wells Fargo, Washington Mutual, you should be able to go into any branch and have them coordinate this.

Also, you could use a title company to do all of this too I believe.

Just some thoughts -Good luck

 

[caseycarson]

There is an online escrow service. I think it is iescrow.com. I used this on my last cycle purchase. It worked well.

 

[Dave Hardy]

Do the deal at his bank. You should be able to walk out with the title.