Those former IL governors can press only so many licence plates

Making forward progress!
 

Seller texted me and reports that he got the title transfer completed.
In Texas, that means it's a 2 to 3 week wait for the title to come in HIS mail.

Sooooo, its wait for the paperwork to show up before I can purchase it.
DMV advised me NOT to hand over payment until I have a title to sign over.

Tempting to pay up, to buy the X5.

Any thoughts on a small payment to "secure" the deal?

Something like a hundred dollars or so?

As long as the vehicle isn't listed for sale anymore I don't think anyone can swoop in take the vehicle, unless they know about it...

Small refundable deposit could work but the seller would have to agree.

Come Christmas Day you may have a new sled :)

Better to lose the opportunity to buy the 4.6 than invest $$$ and get nothing.

It sounds like you want to play it safe... which is fine. Just wait for him to get the title. You can't lose anything but the truck this way.

If I were in your shoes, and again, this is just me; I'd have made up two copies of a (one for each party) bill of sale with all the truck's info, seller's info, my info on it, the sales price, and something about the agreement to get the title after he received it... gone with him to my bank to get it notarized and signed. Then I would have paid him and taken the truck with me and waited for him to call when I could pick up the title.

Edit: BTW, it's still listed for sale. He could receive a higher offer than your agreed price between the time you guys are waiting to get the title. He'd be a fool not to take the higher offer.

This. Sometimes you have to move quick. And with a truck like that, I wouldn't take my chances.

Play it safe, something will always pop up.


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I would make sure that legally a notarized bill of sale supersedes a title that has not been signed.

If it doesn't... he is obligated to return payment legally as you weren't given ownership of the goods stipulated in the notarized and signed the bill of sale.

Obligated to and does are two different things. A small deposit to hold it wold be reasonable. I think $100 is too little though. However it doesn't guarantee he wouldn't sell it to someone else and hand you back the deposit.

Maybe you could work through an escrow service?