Imagine4ever
New member
- Joined
- Sep 9, 2018
- Posts
- 3
My husband and I were looking for an RV (our third) for about 10 months and three weeks ago found the perfect RV, year, mileage, floor plan, all the upgrades, etc., a 2016 Fleetwood Bounder LX 33C, pre-owned.
I immediately shopped for an RV loan and Southeast Financial came back with the best rate and term, so submitted the application and got approved.
SEF wanted our IDs and NADA price and required a RV Inspection, which we wanted to do anyway. No one buys an RV new or pre-owned without a thorough inspection.
Anyway, I was wondering where my loan packet was, they supposed to email it to me. Come to find out that they want the private seller to send them a copy of the title (no lien) and sign a POA to allow SEF to change the title or certificate of ownership, before they release the funds. This is what SEF requires, I requested to see their RV loan practices/policies. Needless to say, seller is not comfortable with that nor am I and we like to for SEF to use an escrow service.
I am reaching out to the community to see if this is a standard process when it concerns a private seller or if anyone experienced a similar process or can advise how to handle this so we can fund the loan.
Thank you all in advance.
Peggy
I immediately shopped for an RV loan and Southeast Financial came back with the best rate and term, so submitted the application and got approved.
SEF wanted our IDs and NADA price and required a RV Inspection, which we wanted to do anyway. No one buys an RV new or pre-owned without a thorough inspection.
Anyway, I was wondering where my loan packet was, they supposed to email it to me. Come to find out that they want the private seller to send them a copy of the title (no lien) and sign a POA to allow SEF to change the title or certificate of ownership, before they release the funds. This is what SEF requires, I requested to see their RV loan practices/policies. Needless to say, seller is not comfortable with that nor am I and we like to for SEF to use an escrow service.
I am reaching out to the community to see if this is a standard process when it concerns a private seller or if anyone experienced a similar process or can advise how to handle this so we can fund the loan.
Thank you all in advance.
Peggy