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I sell emergency vehicles for a living so I'm saying this from a position of knowledge on this issue. He now owns the car since you signed over the title. He never has to actually pay you one red cent because you legally signed the car over to him. We have municipal customers all the time that want us to issue a title before making payment. Our bank would drop all financing of our corporate and manufacturing operations in a heartbeat if we ever did this.
I would demand immediate electronic payment or threaten him with legal action. Technically you don't have a leg to stand on but hopefully you will scare him if he is the slightest bit honest.
Never, ever, sign a title over to someone without clear payment that has cleared the bank. Any buyer worth anything will understand and want both parties to be protected. [Here endeth the lesson.] Good luck.
posted by 207.239.20...
Posts in this Thread:
- process for selling a vehicle long distance, Ken , Tue, 30 Mar 2004 17:14:46
- Re: process for selling a vehicle long distance, Ken , Wed, 31 Mar 2004 06:24:50
- Re: process for selling a vehicle long distance, JLowe, Wed, 31 Mar 2004 06:19:28
- Ever heard of Escrow?, Tito, Wed, 31 Mar 2004 06:12:11
- Make sure to keep any e-mails he you exchanged with him, Tom L, Wed, 31 Mar 2004 05:36:59
- tell hm to pick it up, or refuse to ship, steveC, Tue, 30 Mar 2004 23:56:59
- hmm, wiring and getting a certified check seem equally, stevec, Tue, 30 Mar 2004 20:55:12
- YOU ARE IN TROUBLE!, Saabpilot , Tue, 30 Mar 2004 20:46:53 <-- Viewing This Message
- NOOOOOO!!!!!!!, Stephen Goldberger, Tue, 30 Mar 2004 17:52:17
- Agreed..., Scott Paterson , Tue, 30 Mar 2004 19:03:46
- Certified Checks Can Bounce..., Scott Paterson , Tue, 30 Mar 2004 17:43:35
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