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Boat sale, bank has titles and no bank branch in town #13668095 08/14/20 09:49 PM
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AustinWader Offline OP
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Hey y'all,
I'm looking into buying a boat tomorrow or Sunday. Seller is in Dallas and he still owned U.S Bank, so the bank has the titles. There is no U.S bank branch anywhere near, according to my knowadge. This is what the seller proposes:

Are there any risks of purchasing this way? Thought? Thanks for the help!
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Last edited by AustinWader; 08/15/20 01:08 PM.
Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668133 08/14/20 10:22 PM
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US Bank locations

There's a branch in Dallas. Do it through the bank or find a different boat to buy.

Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668147 08/14/20 10:34 PM
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bolt see ya..!!!

Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668157 08/14/20 10:39 PM
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yeah.. no title for boat and motor.. no sale. there could be a lien on it or all kinds of things.

Last edited by __TX__; 08/14/20 11:24 PM.

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Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668199 08/14/20 11:10 PM
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Sounds fishey!

Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668223 08/14/20 11:39 PM
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Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: Rayzor] #13668387 08/15/20 01:55 AM
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I decided to not go this weekend. He mentioned something about having a credit union handle it? Should I look into that or just look elsewhere? Thanks!

Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: __TX__] #13668395 08/15/20 01:59 AM
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Originally Posted by __TX__
yeah.. no title for boat and motor.. no sale. there could be a lien on it or all kinds of things.



There is a lien. Literally that's exactly what the seller is saying.
If you do the deal at the bank, it's not an issue. I've bought and sold many cars this way. You can't expect every used vehicle/boat ever sold to be paid off, titles in hand. If it is a good deal, it's not that big of a deal.

Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: wh2004] #13668397 08/15/20 02:00 AM
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Originally Posted by wh2004
Originally Posted by __TX__
yeah.. no title for boat and motor.. no sale. there could be a lien on it or all kinds of things.



There is a lien. Literally that's exactly what the seller is saying.
If you do the deal at the bank, it's not an issue. I've bought and sold many cars this way. You can't expect every used vehicle/boat ever sold to be paid off, titles in hand. If it is a good deal, it's not that big of a deal.


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Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668457 08/15/20 03:27 AM
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Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668460 08/15/20 03:35 AM
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Why?

Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668554 08/15/20 11:09 AM
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I did this exact same thing with my I-Class purchase back in 2015 after I felt comfortable with seller. I became familiar with his career, background, was military police in SA. etc. I paid the credit union and then they released the lien. It all worked out like clock work.


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Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668582 08/15/20 11:55 AM
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YOU pay the bank, no him, he gets balance of agreed price.

do it at the bank and you're good, do it his way and he will have opportunity to screw you and then someone else when he sells it again.

you can set up a money transfer from your bank to his bank to pay off the lien, your bank gets the titles then they have a lien or if paying cash they may charge a small fee for the transfer.

bank to bank is fast, easy and pretty simple.


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Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: hopalong] #13668785 08/15/20 03:12 PM
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That sounds interesting, directly paying his bank at my bank. Do y'all know for sure if it's possible?

Last edited by AustinWader; 08/15/20 03:40 PM.
Re: Urgent, Boat sale, bank has titles and no bank branch in town [Re: AustinWader] #13668818 08/15/20 03:59 PM
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if you pay for the boat dont leave without the titles once the money has changed hands the worry about the titles is over it takes some banks over a month to return titles you have no leverage without titles .

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