Cablefed
Full Access Member
I've decided to put my truck up for sale, most likly ebay, and should be able to sell it for what I'm asking. The issue I am having is closing the actual transaction. I owe money on the truck and was curious how I would go about how to put together the transaction. My loan is through Bank of America and there is no branch in the state of Indiana. I was going to have th title sent to a local branch but with no branch I have to do the following per the bank.
Whom ever buys the truck would send the payment to my bank and the bank would wait three days for the funds to clear before releasing the title. I would assume a bill of sale signed by both parties and notorized would follow the transaction?
My only concern is handing the keys over to someone when the funds must take three days to clear. In the past I have just always had the title sent to a local branch and completed the transaction that way. Anyhow...just trying to get my ducks in a row before I put the 10 up for sale. Thanks for any and all help. Cheers!!!
Whom ever buys the truck would send the payment to my bank and the bank would wait three days for the funds to clear before releasing the title. I would assume a bill of sale signed by both parties and notorized would follow the transaction?
My only concern is handing the keys over to someone when the funds must take three days to clear. In the past I have just always had the title sent to a local branch and completed the transaction that way. Anyhow...just trying to get my ducks in a row before I put the 10 up for sale. Thanks for any and all help. Cheers!!!
