Questions about selling

[paullac]

Planning to sell our unit (via Craigslist at least initially).

I have read the older posts and know about safety, pricing it right, having it clean, etc.

I do have some specific questions from others who have done it:

- Test drives: I think it's safer to not go with them but follow in a separate car. Agreed?

- Earlier posts say to get cash. Do they literally mean cash? The unit is newer so we're not talking a couple hundred or thousand dollars.

- Assuming a check from a bank, I assume the best approach would be to meet at the bank to actually witness getting the check right from the bank? I figure true buyers looking for a camper and not scammers would understand this.

- How do you handle if the buyers need to get a loan (especially not locally)? We have the title but not certain when it gets handed over for that type of transaction. I figure the buyers will need some paperwork from us to get the loan.

- I still need to investigate how the title / registration transfer happens in my state as we recently moved and have not sold a vehicle here before...

I may be back with follow up questions but thanks in advance for this first batch of info.

[Chum_lee]

paullac wrote:
OP here -

The RV is sold. We put it on Craigslist, the first people came to look at it 3 days later, they put an offer in 2 days after that, & then we did the financials & title transfer about a week later (wife was out of town so couldn't do sooner).

I was at work when they came to look at it so my wife handled showing it. She is pretty familiar with how everything works. She did accompany them on the test drive. They were an older couple about to retire so we (she) felt very comfortable going along.

We went to the DMV together. We signed the title over to them so the VIN is now officially in their name. They already have insurance. The plate stays with the vehicle for the state we live in.

They then gave us the payment. They did not finance the purchase. They use the same bank we do. They got a cashiers check. The difference with a cashiers check (vs certified check) is the funds are removed from their account & basically put into a bank escrow account when the check is issued. That means that they couldn't stop payment on the check for example.

We were surprised how quickly it sold (approximately 5 days). Truth be told, we would have preferred a little bit longer so that we could have finished more of the season. But then I thought the timeline could get longer the later you go into the season so we moved ahead now. We've had 2 pop up's & now this class C. The pop up's sold in the first weekend to the first people who came to look as well. We just thought it would take longer being a bigger purchase. However, the unit was in excellent condition mechanically, operationally, & from an appearance perspective.

Just wanted to update those that provided great advice in response to my questions.

Thank you for taking the time to follow up with the details of your sale. I too used craigslist for my RV purchase without issue.

Chum lee

[XytheX]

All sales must occur in person. I've always offered to bring the vehicle to their bank/cu of choice; then finish the transaction with their loan officer who issues the cashier's check at the end. Everyone sleeps easier that way and the entire thing is on camera. It's also a great place to make copies of all the paperwork. I've always found loan officers more than happy to accommodate this and haven't had any issues with this approach to date.

Note that at least in Michigan you must accompany the buyer to the SoS or have a separate bill of sale with the buyer's drivers lic number. Your state's DMV website should have instructions specific to your state.

[OFDPOS]

Yep Cl can be a very good place to buy and sell and flip side a place for scammers and thieves !

Glad to hear your selling transaction went smoothly.

I sold our last 2 MH's on CL, both times they sold within 2 days.

[paullac]

OP here -

The RV is sold. We put it on Craigslist, the first people came to look at it 3 days later, they put an offer in 2 days after that, & then we did the financials & title transfer about a week later (wife was out of town so couldn't do sooner).

I was at work when they came to look at it so my wife handled showing it. She is pretty familiar with how everything works. She did accompany them on the test drive. They were an older couple about to retire so we (she) felt very comfortable going along.

We went to the DMV together. We signed the title over to them so the VIN is now officially in their name. They already have insurance. The plate stays with the vehicle for the state we live in.

They then gave us the payment. They did not finance the purchase. They use the same bank we do. They got a cashiers check. The difference with a cashiers check (vs certified check) is the funds are removed from their account & basically put into a bank escrow account when the check is issued. That means that they couldn't stop payment on the check for example.

We were surprised how quickly it sold (approximately 5 days). Truth be told, we would have preferred a little bit longer so that we could have finished more of the season. But then I thought the timeline could get longer the later you go into the season so we moved ahead now. We've had 2 pop up's & now this class C. The pop up's sold in the first weekend to the first people who came to look as well. We just thought it would take longer being a bigger purchase. However, the unit was in excellent condition mechanically, operationally, & from an appearance perspective.

Just wanted to update those that provided great advice in response to my questions.

[klutchdust]

Is your coach financed, then tell the lender you are going to sell it. If you have the title then go to your bank and ask them what they prefer. A wire transfer is a guarantee, a bank check is not. When purchasing my coach I had in hand a large check issued from my bank, flew to Minnesota and went to the sellers bank. They would not honor my cashiers check, some bartering went on then they figured it out. Large suitcases with cash is stupid. Both for the buyer and seller. Test driving, you and someone else should go with the buyer. I avoid using my home for transactions. Take your time when negotiating, low ballers are plenty. Base your selling price on realistic facts. Fact one is motorhomes depreciate fast.

[Cobra21]

pauldub wrote:
I would ride in the motor home with the potential buyer and I would accompany them to their bank to get the check. In the state I live in, you just sign the title and report the sale to the state as explained on the backside of the title.

This is the answer! And yes, craigslist works really well!
Brian

[wannavolunteerF]

when I sold Mom's, buyer brought cash.. They came and looked, said they wanted and left $40K cash and took title. Left MH and came back a week later, bought toad, so brought more cash and took both vehicles and title.

[ron_dittmer]

I sell a lot of things on Craigslist including vehicles. The only hard advise I can offer is to include a phone number with texting capability. Do NOT EVER allow for email responses for you will get so much spam. If the person is serious enough, he or she will want to call you anyway.

I would state to any prospective buyer who comes to test drive your motor home, that you will drive it to a place where you feel comfortable for a test drive. This way he can experience the ride from a passenger's perspective as well as the driver's perspective.

[ndrorder]

1. Ride along on the test ride is appropriate. If they want to discuss something in private, they can stop along the way to do so.

2. If they write a check, have them do so at YOUR bank. Your bank will contact their bank to verify funds and have the funds wired immediately.

3. If they are financing the purchase, plan to work with their loan officer to conduct the transaction in a manner safe for both parties. If they are approved for a loan from a reputable place, they will have already signed a power of attorney for the loan officer to conduct the transaction on the purchasers behalf.

[ol__yeller]

paullac wrote:

pauldub wrote:
Regarding the buyer getting a loan, their lender isn't going to give them money without having the title in hand.

OP here - That's my concern. I give them the title. For whatever reason I don't get money (their loan doesn't go through, check to me from the lender gets lost, whatever, any number of reasons...). Once I give up the title I'm in a risky spot. Hoping to find a buyer with cash!

I wouldn't give title until payment is in my hands/account. Lending institutions will give buyer the check made out to you, then you hand over the title. That way no worries about a lost check or declined credit. I also have buyer come with me to my Credit Union where we complete the deal and their payment is deposited directly into my bank.

[FunTwoDrv]

OP, some sound advice thus far... Regardless of how the buyer secures the loan, ie; using your RV or some other form of collateral, my experience is to require a wire transfer. Once received by your financial institute, then sign the title over as per your state's requirements.
GLWTS,
Gary

[DrewE]

I also would accompany on the test drive. I think it would make many buyers more comfortable with the process, and likely you have a better understanding of the local roads than they do. It also makes it harder for a completely unscrupulous person to just drive off into the sunset with their new (stolen) RV.

Watching them get a bank check is nice if there's a reasonably local branch of their bank near you. If there is not, you have rather more limited options. Some may suggest that you not turn over the title until you verify that the funds clear, but that merely transfers the burden of trust from you trusting the buyer to be basically honest to the buyer trusting you to be basically honest--which is perhaps better for you, but not an improvement in the process overall. I know as a buyer I would be rather loathe to hand over my hard-earned money for the promise of the future production of the title.

The buyer, after purchasing the motorhome, should generally not drive it home using your plates. (If you live in one of the few states where plates stay with the vehicle rather than the owner, that's obviously a different situation.) Generally if the buyer is a resident in the state they would need to go to the DMV and obtain their own plates, paying the various taxes and fees and such needed. If they're from out of state, generally there's an "in-transit permit" that can be had for a nominal fee that gives a temporary registration to drive it home. In Minnesota, it looks like the fee for a non-resident temporary permit is one whole dollar.

[paullac]

j-d wrote:
Find a way to make sure the buyer actually transfers title FROM YOU. In FL, signing the title over does not "sever" your ownership. State DMV makes it clear that the New Owner has to complete the transfer. If somebody pays for the unit, takes it and doesn't transfer title, then if anything happens, the search will lead back to you.

Using a lender, may actually help with this as noted above. Get everything notarized, too, even if state doesn't require it. Then, if buyer understates price paid to avoid sales tax, you have stronger documentation to show you didn't enable that.

OP here - Thanks! I read where you said that on an older post. That was exactly why I made my last comment about needing to look into it where I live.

[paullac]

pauldub wrote:
Regarding the buyer getting a loan, their lender isn't going to give them money without having the title in hand.

OP here - That's my concern. I give them the title. For whatever reason I don't get money (their loan doesn't go through, check to me from the lender gets lost, whatever, any number of reasons...). Once I give up the title I'm in a risky spot. Hoping to find a buyer with cash!