Selling something...that's not yours
04-25-2007, 11:24 PM
#1
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Selling something...that's not yours
Well, it's mine, but I owe money on it. How do I sell it? I have no title and in order to get it I have to pay off the loan, which I need to sell to do. 
So how does a buyer trust me to take their money, pay off the loan to receive the title and transfer the title to them? 
I sure the ---- wouldn't trust me. 
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So how does a buyer trust me to take their money, pay off the loan to receive the title and transfer the title to them? I sure the ---- wouldn't trust me. __________________
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04-25-2007, 11:30 PM
#2
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Re: Selling something...that's not yours
Explain the situation, write the situation down on paper. Both of you sign it, and include them in any and all transactions you need to do before you can give him the title. This means showing him paperwork backing up the situation you tell him, taking them along to the bank to pay it off, etc... Whatever needs to happen.
04-25-2007, 11:34 PM
#3
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Re: Selling something...that's not yours
Originally Posted by Stealthmode
Explain the situation, write the situation down on paper. Both of you sign it, and include them in any and all transactions you need to do before you can give him the title. This means showing him paperwork backing up the situation you tell him, taking them along to the bank to pay it off, etc... Whatever needs to happen.
04-25-2007, 11:41 PM
#4
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Re: Selling something...that's not yours
Hmm...well the payment has to be sent and then when they receive it they will send the title. I'm assuming this process will take at least a few weeks. I would have a hard time trusting someone with my money for that long and only having a piece of paper to save my ***, but if that's how it works.....
So the buyer will only receive this piece of paper as proof of ownership until the title actually gets transfered? I just can't see someone being that trusting.
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So the buyer will only receive this piece of paper as proof of ownership until the title actually gets transfered? I just can't see someone being that trusting.
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04-25-2007, 11:46 PM
#6
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Re: Selling something...that's not yours
Originally Posted by jagojon3
Transfer the loan through whatever bank you go through. You won't be liable for anything as soon as they sign the papers.
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04-25-2007, 11:51 PM
#8
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Re: Selling something...that's not yours
Originally Posted by jagojon3
You don't own it though, that's the problem.
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