Buying across state lines?

If you are planning to make an out of state purchase there are a few things you want to consider before hitting the road.

Get as many pictures and videos as possible. Schedule a video chat with the seller and do a virtual walk through to avoid any surprises upon arrival. We also suggest requesting pictures of the serial numbers - for a boat purchase this means three separate photos - the boat hull, motor serial number and trailer VIN. For an RV this would be one photo of the 17-digit VIN.

Preparing a bill of sale. Your state may offer a template on their website - you want to make sure both you and the seller sign and attest to the purchase price, the date of sale, who is buying, who is selling, as well as the collateral being purchased. Make sure the seller’s name on the bill of sale matches the name on the existing ownership documents.

Exchanging ownership documentation. Titles and registration are an important component to your purchase. It is pertinent you can show proof of the sellers transfer of ownership to you - check with your state to ensure you know what is required of you once you take possession of your new unit and do a little research into your sellers state so you know what ownership documents to collect from them. If your purchase does not come with the proper documentation it can cause substantial problems for you as a new owner.

Any liens against the unit must be paid. Never hand money to a seller with a lien and expect them to pay it off. If there is any delay in paying off an existing lien this will cause delays in acquiring the proof of ownership - most states will start charging late fees for these delays. You don’t want to pay for someone else’s procrastination.

Of course - call us with any questions or concerns! This is what we do - we know what to look for.

Jireh Financial
(517) 888-0406
info@jirehfinancial.com