buying in Fla
Thread Starter
Burning Brakes
Joined: Jul 2012
Posts: 945
Likes: 32
From: WV
buying in Fla
I am an out of state buyer, considering purchase of a used Vette in Florida. Private party sale.
There is a lien on the title. I suggested closing the transaction at the lenders office, so that I leave the transaction with a clear title.
Seller says that is not possible; that there is a delay of several days before lender will release title, and that lender will send the clear title only to the seller.
Seller suggests I return home with Bill of Sale and car, and that he will mail title to me once he receives it.
Do people really do this?
Is the title release really that slow?
Has anyone used an Escrow service, and if so, was that a good experience?
There is a lien on the title. I suggested closing the transaction at the lenders office, so that I leave the transaction with a clear title.
Seller says that is not possible; that there is a delay of several days before lender will release title, and that lender will send the clear title only to the seller.
Seller suggests I return home with Bill of Sale and car, and that he will mail title to me once he receives it.
Do people really do this?
Is the title release really that slow?
Has anyone used an Escrow service, and if so, was that a good experience?
Le Mans Master
Joined: Feb 2007
Posts: 9,296
Likes: 1,531
From: Oviedo Florida
2024 C5 of the Year Finalist - Modified
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You and the seller can jointly visit the MVA with the paid contract
and have a new title made.
Later.
and have a new title made.
Later.
Le Mans Master
Joined: Jan 2003
Posts: 6,187
Likes: 309
From: SIMSBURY CT
St. Jude Donor '07 thru '25
I would close at the lenders office to ensure the lender gets paid.
See a written payoff letter from the lender with the payoff balance.
If they don't give you the title on the spot at least you know the loan is paid. Get some sort of documentation from lender that loan is paid.
See a written payoff letter from the lender with the payoff balance.
If they don't give you the title on the spot at least you know the loan is paid. Get some sort of documentation from lender that loan is paid.
Melting Slicks
Joined: Jul 2010
Posts: 2,793
Likes: 333
From: Leesburg Fl
2018 C5 of Year Finalist
St. Jude Donor '14,'18
Florida now issues titles electronically. Close at the lender, have seller sign power of atty. for the lender to send title to you. DO NOT TRUST THE SELLER TO MAIL THE TITLE.
