Seller makes the check out to the lien holder for the payoff amount and gives you cash/check for the rest. You send the payoff check to your lien holder and include the new owner (and lien holder, if applicable) info. They ship the signed off title to you or the new lien holder. If to you, hand that piece of paper over to the buyer - no need to retitle.
The check being in your bank's name means you can't cash it and the buyer is protected. I've had situations where it's taken 6 weeks to get the title from the seller's bank.
The check being in your bank's name means you can't cash it and the buyer is protected. I've had situations where it's taken 6 weeks to get the title from the seller's bank.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth