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Purchase bike remotely from private party

  1. #1
    Posting Freak Lucas's Avatar
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    Purchase bike remotely from private party


    Hypothetically speaking what is the best course of action to protect both seller and buyer?

    Buyer will not see seller or bike In person. Seller has bike on loan through credit union. Bike will be shipped via insured shipping company paid for by buyer.

    What are the proper steps here?

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  2. #2
    Lifer Stromper's Avatar
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    Re: Purchase bike remotely from private party

    Better be a hell of a deal

    My brother has done this successfully

    owners state and what to do with title is most important you talk to the DMV in that state yourself

    I have gone as far as Ohio to pick up a purchase

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    Last edited by Stromper; 02-22-18 at 01:17 PM.
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  3. #3
    Posting Freak Lucas's Avatar
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    Re: Purchase bike remotely from private party

    Just saw Escrow.com has boiled it down to 5 steps.

    1)Buyer and seller agree to terms
    2)Buyer submits payments to escrow
    3)Seller ships bike
    4)Buyer approves condition
    5)Escrow releases payment

    One would also need to purchase "Lein holder payoff service"

    Step 3 I'm assuming buyer pays shipping company directly? Am I missing anything?

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  4. #4
    #494
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    Re: Purchase bike remotely from private party

    Like Stromper said, I wouldn't do it unless it was an insane deal. Even then I'm not sure I'd do it.

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