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#12739740 - 05/02/18 10:52 AM Re: buying used from a private owner [Re: WallVFD113]
reclending.com Offline
Angler

Registered: 10/29/10
Posts: 348
Originally Posted By: WallVFD113
I’m kind of like a guy up the post a little way, I’m looking at buying from a private seller who isn’t too fond of working with a “financial institution” but I am. How does this play out?

I would think as long as they get the amount of money that we agree on, it shouldn’t matter who it comes from...I like the guy’s boat but I don’t know if it’s more headache then it’s worth.


Each seller is a bit different but that's fine. We wire funds and track down loans against the boat being sold. I can't explain why someone would rather take a check from a stranger than a wire. A wire is real and automatically accessible. Some banks hold checks for 5 + business days to see if it clears. Once in a while we get a seller that is hard and fast "cash" as in dollar bills. We find that in those cases, there is often more to the story. Paying off liens of the seller, getting title or lien work done for the buyer is something that is a must. Handing dollars to a stranger and not knowing about any liens is very short sighted. Having the keys and the boat does not mean you really own it.
Let us know if we can help.
Thank you,
Ken
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#12740075 - 05/02/18 02:02 PM Re: buying used from a private owner [Re: reclending.com]
WallVFD113 Offline
Outdoorsman

Registered: 07/20/14
Posts: 135
Loc: Tom Green County, Texas
Thanks for the reply Ken, I’ll definitely let you know when/if I get ready to pull the trigger with this guy...we’re still in the early stages of the deal right now.
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May GOD Bless you in everything you do!

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#12744254 - 05/05/18 10:07 AM Re: buying used from a private owner [Re: Buschwacker]
dillydilly24 Offline
Outdoorsman

Registered: 02/11/18
Posts: 42
Loc: Josephine, TX
Out of state can be difficult, but in state is pretty simple and most banks will wire the money on site. Anyone that’s dead set on a “cash only” buyer is going to dramatically decrease potential buyers. I can’t speak to reclending, but city credit union has always been extremely easy to work with.
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#12750261 - 05/10/18 08:50 AM Re: buying used from a private owner [Re: Buschwacker]
reclending.com Offline
Angler

Registered: 10/29/10
Posts: 348
I can speak for RecLending - we are really easy to deal with. (might be a bit bias).
Just as an added note - even dealing instate can be challenging. We often find sellers do not have correct or proper ownership docs. Just because you are in the same state, don't lower your guard. Being sure your seller has correct ownership docs helps to insure your trip to the state office is simple. What ever your state requires you to have titled or registered, expect your in-state seller to have the same exact things.
Ken
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