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It means what it says........ Posted by Herb Hirsch [Email] ![]() ![]() ![]() In Reply to: AutoCheck Loan/Lien Recors, EGD ![]() |
Somebody has a lien on the vehicle due to a loan that has not been paid off, or a repair bill that has not been paid. Sometimes the latter is referred to as a mechanics lien.
The above doesn't mean that you shouldn't proceed with acquisition of this vehicle; it does mean that you must take additional steps to protect yourself. If you decide that you're going to buy the vehicle inform the owner that you have some homework to do. If your communications with the owner raise suspicions....head for the nearest exit. Otherwise, independently, find out who has (or had) a claim and most imporantly, whether they have been paid. If you identify one there may be two. Don't assume anything.
If you still want to go ahead, let the owner know that you're going to pay off the liens, and he'll receive the difference. DO NOT GIVE HIM THE MONEY TO PAY OFF THE LIEN(S)!! Pay off the liens and insist on a release.
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