Thread: buyer beware

stevo being a finance broker please feel free to add comment on how to purchase this properly as the last thing id want is drama's.
cheers des

stevo being a finance broker please feel free to add comment on how to purchase this properly as the last thing id want is drama's.
cheers des

No worries mate, even though pretty much touched on, make sure of the following:

• The seller should be able to get a payout invoice from the lender stating amount owing and how payment can be made ( ie direct credit, branch etc). Then get confirmation that the payment has gone through. Do not give the $$$ to the seller to do this.
• Make sure that the necessary transfer of rego paperwork has been done as well.
• Generally the seller will want confirmation that the payout has been cleared and that title has exchanged to yourself if paying cash or to the lender doing the private sale.
• Make sure you take copies of any paperwork and better still get the deal in writing and signed/ witnessed plus D/Licence details of the seller.

As an outsider I still have alarm bells ie why was initial purchase price $15k now higher? Where was the vehicle, why couldnt it be presented for viewing? I would also find out in the interim, if not already, who the lender is, what the current debt is ( it takes a 5 minute phone call from the seller to find out). ANy other questions, feel free to let me know,

Regards

Stevo