I trying to buy a used boat from a private seller. How would the change of ownership go about if the private seller still owes his bank $23,000 for his boat? Oh yah were buying the boat for $22,000. Where would the $1000 differ come from?I trying to buy a used boat from a private seller.?
Firebird is correct, the seller makes up the difference.
Be sure the seller actually pays off the loan and you get the title. See if you can go with him to his bank and have him sign off the the title right there.I trying to buy a used boat from a private seller.?
The seller has to pull that $1000 out of his pocket.
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