Just bought a 14x76 - Posted by Don-NY

Posted by Ellen Brenn on May 18, 2007 at 12:02:11:


Most people are not acquainted with NYS and the fact that the owner retains title, not the bank. Normally when paying off a motor vehicle loan in New York the release letter is attached to the closed loan papers and mailed to the owner of record - the seller. They probably will NOT mail it to you directly, although you can ask.

Most banks are now holding title or letter for at least 10 days to make sure the check has cleared and the funds are really good funds. It is not unusual for it to take close to 30 days to receive. This, of course, depends on the lender.

My suggestion would be to hold back a small portion of the money paid directly to the seller (small for you, probably not so small to them) - say $250, which you will hand them when they bring you the satisfaction of lien.

I have seen car dealerships send payoffs by regular mail and I have seen them send by overnight mail. It is a choice thing - they won’t release the lien any sooner either way.

Ellen Brenn

Just bought a 14x76 - Posted by Don-NY

Posted by Don-NY on May 18, 2007 at 11:07:34:

We just paid a deposit on a 1992 3/2 Commodore 14 x 76 in BEAUTIFULL shape, to move into our park. (Our new park is another success story thanks to Tony and Scotts material, thanks a million guys!). There is a balance owed greentree. We called and got payoff $ and where to send it. They say send it regular mail. Does anyone send it certified mail and do you use a certified check? How long does it take to get release letter? Can I get letter sent to me instead of seller?

Re: Just bought a 14x76 - Posted by Ryan (NC)

Posted by Ryan (NC) on May 18, 2007 at 15:17:49:

You can request that the title be sent to you directly, make sure to get 2 POA’s from the seller to sign the title and transfer it to your name so that you don’t have to try and track the seller down later. That being said about 50% of the time the title has still went to the seller if just requested via phone from my experiences… I personally send a certified check with a written request to send the title directly to the company. I do like the wire idea for tracking but have never had any problems other than banks loosing the title and not being able to provide anything more than the lien release.

Best wishes,
Ryan Needler

I like to wire the money… - Posted by Greg Meade

Posted by Greg Meade on May 18, 2007 at 12:36:14:

costs me 30 bucks (about twice of overnight) and it transfers in about 1 hour. There is good documentation at both ends if you ever have to back track payment. This works well in Tampa office of Greentree here in Florida.

good Luck,

Re: Just bought a 14x76 - Posted by Ellen Brenn

Posted by Ellen Brenn on May 18, 2007 at 12:09:16:


Most people are not acquainted with NYS and the fact that buyers retain title, not the bank. That said, the bank normally staples the lien release to the closed contract and it is mailed back to the person named on the contract. Thus, you will probably not be able to get it directly, but it doesn’t hurt to ask.

I suggest holding back a small balance which you give the seller of the home when they deliver the lien release to you. When they get the release, which could be up to 30 days or so, they will not remember that you need it. Quite possibly they will not even realize it is stapled to the paperwork. If they throw that paperwork away you will have to go through the hassle of getting a replacement release.

I have seen car dealerships make payoffs by regular check and regular mail and I have seen others send in overnight packets. Unfortunately, it does not help in getting your lien release any sooner. All it really does is keep the per diem to a minimum.

Ellen Brenn