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I'm going to buy a trailer from a private seller tomorrow and the bank holds the title yet. How do I insure I don't get screwed? Bill of sale and possession enough? Its a long drive and I don't want to miss out on a decent deal. How do I keep seller motivated to actually clear the title in a timely faction, if at all? Taking off work to meet at the bank next week and making the trip again seems like overkill and will be costly.

I'm going to buy a trailer from a private seller tomorrow and the bank holds the title yet. How do I insure I don't get screwed? Bill of sale and possession enough? Its a long drive and I don't want to miss out on a decent deal. How do I keep seller motivated to actually clear the title in a timely faction, if at all? Taking off work to meet at the bank next week and making the trip again seems like overkill and will be costly.

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[–] • 7 pts

You and the seller go to the bank that holds the loan, and pay it off on the spot. that way you know the seller uses the money on the trailer, and the bank will release the title directly to you.

This is usually the way I buy used cars.