I think using the notary will be a bit more cost effective.
Another thought would be once you cover your self with a notarised bill of sale or even if the notary simply makes you a lien holder on the title till its released from the bank. You might think about using an electronic transerfer of the funds this might help speed things up with the releese of the title.
No matter what I wouldnt put any payment in the sellers name till the title was in hand even if I was paying more than what was owed the bank for the bike.
Agreed. I ran some numbers last night and decided to pay cash. He only wants the payoff, so I'll give him a cashiers check made out to FreedomRoad in the amount of his payoff and get a bill of sale notarized at the same time. I'll also take delivery of the bike at that time. When he gets the title in 1-2 weeks, we can meet up again to notarize the transfer.
I think this will be the safest, easiest way. He seems like a good guy, and the dealer vouched for him...so I feel pretty comfortable with it. I'll post an update, hopefully when I have a 2011 Storm.
Thanks again all.
Last edited by RDMC_Sage; 05-09-2012 at 10:34 AM.