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Guys I have some questions I need some help with when selling your boat to someone else(out of state). Thanks in advance for the help:
1. Person buying my boat got a loan from his credit union for the selling price. He says that the credit union has to issue the check in my name. Person is from out of state, so is driving down(do a test drive) to pick it up and give me the check.
Obviously the check wont clear for a few days. Do you let the person leave with the boat? What have you guys done in this situation?
I was going to have my bank contact his bank and see what they can decide on, but my banker said, that even if the check and bank are good, that the person can still put a stop payment on the check after he leaves with my boat.
2. What do you guys do with your insurance? Do you cancel it the day the person leaves with your boat? Or do give him a few days to tow it back to his home?
3. Anything else Ive missed?
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