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Can you sell a car that you have a loan on by giving the car to the buyer using his money to pay off the loan and then mail him the title?
Wiki User
∙ 8y ago
Yes you can sell your car that has a loan it. The easiest thing to do is if you sell it locally and you have the car financed at your local bank, have the buyer go with you to your bank. Pay of the car with what you sold it for. The bank usually has the title to your car. They will pull your title from your file at the bank, turn it over to you, and all you will have to do is sign the back of the title as the seller and hand it over to the buyer. Be sure to print or write a bill of sale, both buyer snd the seller will sign and each of you will have a copy. Use the bill of sale to protect yourself. Note in this document that this car is being sold as is, where as, no warrany. This is also protects you against any legal action. Whatever that car is used for after this transaction is not your responsibilty so be sure to file your copy of the bill of sale. Also include the complete vin#, make model, color, ect, and the date of sale.
When you sell your car you should take the buyer to your bank (if possible) and pay off your loan. Then when you get your title you can sign the back and get it notarized if needed in your state. Most knowlegable people would not pay you for an auto without getting the title. This is the true ownership document. Why would you trust a stranger to mail you this document? If that car was used in a crime or involved in an accident the owner is the person listed on the title. Also the buyer would want to be guaranteed the loan was paid off and the lien was removed.
Wiki User
∙ 8y ago
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You are co buyer on a car loan with your mom you had a fight can she keep you from using the car?
Depends on wheter both your names are on the title or not.
When a buyer returns merchandise purchased for cash the buyer may record th transaction using?
when a buyer returns merchandise purchased for cash, the buyer may record the transaction using the following entry
Why would you sell your house cash only?
Reasons:You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.
Is it legal to sell a foreclosed property in Massachusetts that has a cloud on the title by using a quit claim deed?
Yes. In Massachusetts, and most other jurisdictions, it is up to the buyer to have the title examined in order to disclose any title defects. A buyer in such a case who didn't have the title examined would have to sue the bank and provide evidence the bank knew of the title defect. The chances of prevailing would be slim since the title status was available to the buyer by examining the land records and the bank simply quitclaimed its interest. You need to consult with an attorney.A quitclaim deed does not guarantee the seller has good title it simply transfers whatever title the grantor may own. Purchasing property at a foreclosure sale is extremely risky. All foreclosure deeds are quitclaim deeds.Caveat emptor!Yes. In Massachusetts, and most other jurisdictions, it is up to the buyer to have the title examined in order to disclose any title defects. A buyer in such a case who didn't have the title examined would have to sue the bank and provide evidence the bank knew of the title defect. The chances of prevailing would be slim since the title status was available to the buyer by examining the land records and the bank simply quitclaimed its interest. You need to consult with an attorney.A quitclaim deed does not guarantee the seller has good title it simply transfers whatever title the grantor may own. Purchasing property at a foreclosure sale is extremely risky. All foreclosure deeds are quitclaim deeds.Caveat emptor!Yes. In Massachusetts, and most other jurisdictions, it is up to the buyer to have the title examined in order to disclose any title defects. A buyer in such a case who didn't have the title examined would have to sue the bank and provide evidence the bank knew of the title defect. The chances of prevailing would be slim since the title status was available to the buyer by examining the land records and the bank simply quitclaimed its interest. You need to consult with an attorney.A quitclaim deed does not guarantee the seller has good title it simply transfers whatever title the grantor may own. Purchasing property at a foreclosure sale is extremely risky. All foreclosure deeds are quitclaim deeds.Caveat emptor!Yes. In Massachusetts, and most other jurisdictions, it is up to the buyer to have the title examined in order to disclose any title defects. A buyer in such a case who didn't have the title examined would have to sue the bank and provide evidence the bank knew of the title defect. The chances of prevailing would be slim since the title status was available to the buyer by examining the land records and the bank simply quitclaimed its interest. You need to consult with an attorney.A quitclaim deed does not guarantee the seller has good title it simply transfers whatever title the grantor may own. Purchasing property at a foreclosure sale is extremely risky. All foreclosure deeds are quitclaim deeds.Caveat emptor!
Can someone tell me what title insurance is?
Title insurance is insurace for financial loss as in real property, also known as title, defects. They provide money to you so you can get rid of these defects rather that using your own money. http://en.wikipedia.org/wiki/Title_insurance_in_the_United_States
can an REO SELLER/ BANK charge a buyer "per diem" when the buyer is using an FHA loan ?
Yes, a REO seller can charge a buyer per diem interest when the buyer is using an FHA loan. A per diem fee can be around $150 per day.
Could you inform me about title pawn loans?
A title pawn loan is a method of using your vehicle title as collateral for cash. Its mostly done when you need money and don't have time. You can give your vehicle for a certain time to and get cash for it.
Seller is not happy when buyer buys me Buyer who bought you doesn't use me user who bought you doesn't know he is using you so what am you?
A coffin.
Make sentence using the word felicitate?
I would like to felicitate you on your recent promotion.
What is a catchy health title?
Try using alliteration in your title.
When a buyer returns merchandise purchased for cash the buyer may record the transaction using the following entry?
debit cash; credit merchandise inventory
Can the buyer of a car legally repossess the car from the co buyer if the co buyer has made all payments?
If they are a co owner on the reg, they have as much right to it as you-essentially, neither one of you can keep the other from using it paid for or not.
