title help please!!!!!!

[cpmoran]

i finally found someone to buy my 98 prelude. no i am on my way to finding the perfect nsx. So i went to the bank to pay off my loan today. But that was before i knew the car was going to be sold later in the same day, so i didnt tell the bank i needed the title right away. As soon as i walk in the door the women is calling me and telling me that her loan was aproved. And she wants the car. So i called the dmv and asked when i could pick up the title they said it has to be cleard from the bank, so i call the bank and they say since i used a persanl check that i must wait at least 2 weeks. I asked if i could come pay cash and cancel the check and they said it was too late, the check had been sent already. Are they just being lazy or am i just stuck with pants down for 2 weeks. If anyone has any suggestions please help!!!!!!

sorry so long Thanks Chris

 

[NSXnBRLA]

Hmm.. lets see.. i'm a dealer, but in Louisiana. If presented with this problem, here's how it could be handled. Get the person who is purchasing your prelude, to get a 'guaranty of title' from her bank, and have your bank fill it out and sign it. Then bring it back to her bank. It states that upon release of the title by your bank, once all deficits are cleared, they are guaranteeing delivery of your prelude title to their facility. That is enough for her bank to release her the funds needed to pay you for the car. At least it is here. I'm pretty sure they must have something like that as the majority of banks/liendholding companies, are never in the same state as the vehicle owner, therefore, the titles are usually never closer than 3-4 days away, if you're lucky. Hope that helps.

Regards,
Dave

------------------
1992 NSX

 

[cpmoran]

Thanks dave i will try it today first thing and let you know how it turns out

 

[smoore]

just have your bank send the title to the buyers bank also with a title guaranty