Ok so I found this BMW that I want to buy but the lady that is selling it has not paid it off and there is a lien on the car through Bank of America. She is telling me to go to the bank with her and pay of the lien with her as she owes more than she is selling it for. So we would go to the bank together and both chip in to pay off the lien. Then the title will get sent to her and she can then sign it over to me. Sounds a bit sketchy. There will be a notary present to notarize a bill of sale but I am still worried if this will be enough to prove that I own the car and she must sign over the title to me. Also, will we both have to go to the DMV together to transfer title or can she just sign it over and mail it to me and I can go to the DMV alone? Please Help! Oh and this is in California if that makes a difference. Oh and I have no reason to beleive this lady is shady as she invited me over to her home to check out the car so I KNOW WHERE SHE LIVES AAAHAHAHHAA! But you never can be too safe.

 

I probably wouldn't worry too much about it, especially as you know where she lives. As long as you have a bill of sale, you can go to the DMV without her.

 

if you going to her bank to pay off the loan just have them do a mail to address when they release the lien so that you recieve the title and then have her sign it or i kow in Florida this works, have her sign a power of attorney authorizing another person to sell the vehicle so that when you would recieve the title you can go to Dmv with that and the bill of sale.

 

I am not a lawyer, but I did buy a BMW from CA. Here's my experience...

When I picked it up, I wrote the check to the lienholder, not owner. We notified the lienholder that the title should be released to me after payment was received. I also got a notarized bill of sale when I picked up the car. Of course, the lienholder still managed to release the title to the previous owner, who luckily was cool and forwarded it along to me.

In my situation, the owner was not upside-down on the loan. Not quite sure how or if that impacts things.

I have heard that you can ask the bank send the title to a specific branch. That way you both go in to pay off the loan and you receive the title immediately.

I'd contact Bank of America and just ask them how they recommend doing it. In my case, the lienholder was really helpful.

 

After you pay for it. Take possesion of the car. When she gets title she will just send it to you and then you can register it.

 

I'm weird. I buy all my cars through the bank, let them do the paperwork and pay it off. At least they do all the legwork.

 

the best thing to do is not worry about getting the title. Just get a DMV form 227.

[media]http://www.dmv.ca.gov/forms/reg/reg227.pdf[/media]

this allows the DMV to generate a new title in your name. I've found that often times, with newer cars, there isn't a physical title, the lienholder has to get a new one sent electronically and it takes awhile. The form 227 allows you to go register the car immediately.