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I'm going to buy this guys bike today and I'm meeting him at the bank because he owes money on it . So the deal is I pay it off ($3000) and he says that I give the bank my address and they send the title to me..and then I ride away with bike .... Is this correct procedure in this situation ? Is he pulling the wool over my eyes on something ?
 

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In my experience, I have requested that the seller first pay the finance off and provide proof that the finance is cleared and that no third party has an interest in the bike.

Once seller can prove ownership and bike has a clean title, only then do I hand the money over.

This is the safest way.

I assume he has all the correct paper work with proof of ownership?.
 

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Maybe but that's what I did on my bike. It took about a week for me to get it. I do believe he does the sending not the bank. For extra assurance go to the bank with him.
 

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Yes, it's the correct procedure. The lender (bank) will complete the loan close out and have the title transferred to you. You may have to pay them tax and title fees at the time or they may send the title back to the state where you will have to get it and pay the taxes and title fees. The agent at the bank will let you know how it works in your state.
 

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that is correct, just go to the bank with him and give the bank your information at the time of the sale. The bike I just purchased was still owned by the lender and I paid the bank directly instead of giving him the money. The bank then made the title adjustment. GL
 
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