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  • How to deal with buying By Owner?

    Posted by Harry on April 11, 2017 at 6:54 pm

    Where I live in the southwest corner of North Carolina, its a given I’ll need to travel in my coach selection. If I’m very fortunate I’ll find someone here on the forum who is close and would be willing the pre-check a coach of interest. At a given point with a dealer you wire them money and they will hold the coach until you get there for final inspection and purchase.


    What I’m unsure of is how the process works when you’re looking to buy a coach listed “By Owner”? Somewhere in the process money has to be sent to secure the coach in advance of final inspection. This lets the owner know your serious and that they don’t sell the coach to someone else between you’re final inspection and purchase! Do you wire money directly to the owner?


    I’ve not really thought about a sale by owner but it seems like something I should know about…


    And what about the questions to ask? I know about tires, batteries and airbags but what are the other things I should be asking without getting too far in the weeds and the owner and he hangs up on me?

    Thank you all,

    HJ

    Brian replied 9 years, 5 months ago 8 Members · 11 Replies
  • 11 Replies
  • glen

    Member
    April 11, 2017 at 7:10 pm

    Dont do anything with out knowing what the service history is of the coach….

  • Archived

    Member
    April 11, 2017 at 8:40 pm

    HJ,

    I have used PayPal to quickly send deposits. Then inspect and do wire transfer or whatever works best for both of you. Last one we both had mutual funds with the same company and we just went down to the local branch together and moved money from one account to another.

    Just make sure neither one of you is sticking your neck out too far.

  • Greg

    Member
    April 12, 2017 at 5:01 am

    I bought from an individual during the great recession, coaches were on sale. The seller would not take ernest money for a hold. He would have sold to anyone with cash. I took a cashier check when I inspected and drove off in the coach. If things had not been in conditions as stated by the seller I would have just gotten back on a plane with the check in my pocket.

    I did get the maintenence records for the coach and I knew to ask about brake chambers, airbags, batteries and tires. My initial offer and the final deal reflected those items and was significantly less than the asking price.

    This site had just started operating about 6 months before I bought and I was not aware of it. Jeff was not yet in business. By being on the site and asking questions you are in a good position to make a deal with an individual or a commercial dealer. Go for it and enjoy the ride.

  • AL

    Member
    April 12, 2017 at 5:22 am

    HJ,

    I don’t care who you buy from because the process is identical. Do not trade money until the coach has been inspected. With apologies to all the honest people selling a coach I have had and have heard of owners who claim “I don’t know” when asked hard questions. That often means they don’t want to outright lie so they will pretend to not know something. I know salesmen who are less than honest will tell you “they all do that” when an issue is pointed out. The point I am making is you and you alone are responsible for buying any coach that is sold “as is”.

    If you are willing to take the risk or confident of your ability to do a good inspection buying from an owner with no warranty can be a good deal, the presumption being you can buy less than what you might pay from a dealer or converter. Just keep in mind that buying from the converter or a good dealer there is going to be value added. The professionals that specialize in Prevost coaches typically are going to fix some things that need repair, they usually have done a good inspection themselves because they don’t want to be stuck with a coach with big issues, and they can help you with some training.

    The risk you take when you purchase can be minimized if you do your homework and know what to look for, what questions to ask, and you spend as much time as necessary to operate every device and system. If you can get a professional inspection you are further ahead.

  • Thomson

    Member
    April 12, 2017 at 8:32 am


    Thank you one and all,

    My main concern with “By Owner” is to send money and then not get it back if you decide not to buy the coach?

    As for checking the coach I’d not consider it without a Prevost owner or surveyor to perform a pre-check. And if a surveyor is necessary can you use someone with only plastic coach experience? This is my first motorhome and going it alone from the inspection standpoint is not something that fills me with good thoughts!


    Where would you go to find a Prevost surveyor?


    HJ


  • Archived

    Member
    April 12, 2017 at 8:45 am

    HJ

    I have no skin in this game.

    For your first bus you might consider one of the converters who advertise on this forum. If the converter owns the bus as its taken in on trade it should include a limited time warranty. Marathon includes / offers a 6 month warranty with sale of bus. Liberty has the same I believe.

    My first and second bus was purchased through Marathon, both carried a 6 month warranty. Pretty good comfort level on my first purchase. So good was the purchase experience 2 other Marathons were parked in my bus barn. All 3 through the same Marathon salesmen Jim Cogley.

    Looked at offerings on Marathon site finding 4 XL’s in your posted year range.

    AL

  • Archived

    Member
    April 12, 2017 at 9:07 am

    Thanks Al,

    That 6 months adds a nice level of comfort doesn’t it? I’m sure you pay for it in the price but for that level of comfort it may well be worth it! Thanks for the tip Al…

    HJ

  • Gerald

    Member
    April 12, 2017 at 10:14 am

    I don’t know of any converter that is selling coaches in the price range HJ has indicated he has budgeted.

    If an owner wants money up front I would be afraid. I guess that is the real question HJ asked.

    Someone advertising a coach for sale should be willing to allow an inspection prior to asking for a down payment.I cannot understand why money needs to change hands for that inspection to happen. If the excuse is the money will hold it so nobody else can buy it I call BS on that. In HJ’s price range almost all coaches that are going to be sold are going to be cash purchases. Lenders are not lining up to loan money on older coaches so the risk someone will come along and snatch a coach out from underneath another buyer is slim.

    Potential buyers will learn good coaches with a fair price will not last long, and they may lose a potential purchase because they could not put together a trip to inspect a distant coach fast enough. I am sure that happens but not enough to make me want to send someone I don’t know a check in the hopes I get it back if the coach is not for me.

    As a buyer gets educated in what is out there in the market and they know what to look for they will be able to move very fast to close a deal so maybe it is better to risk losing a potential purchase and to risk losing a down payment.

  • Archived

    Member
    April 12, 2017 at 12:58 pm

    I would like to see the ernest money “contract” you suggest would be honored if you decide against a coach after you have provided cash before inspection…. I would find it difficult to assume an intermediary trustee would get into a situation like this. … did you name an intermediary trustee to hold the cash?

    What do you do if he refuses to return your deposit… or disagrees with your analysis? The seller has your money and you have a claim . Keep your lawyer’s phone number handy…because you then get to contact your lawyer that wrote up the contract and get with the program…. It will cost more than the ernest money.

    ….not saying it cannot be done but based on the tenor of this discussion… and the level of funds involved… this is a problem waiting to happen.

    A legitimate situation does not require such actions. If you lose the deal over this, you probably would not have acquired the coach anyway. …just saying.

    Respectfully,

    Pres

  • Archived

    Member
    April 12, 2017 at 4:38 pm

    I found an online ad for what looked like the coach of my dreams for sale by owner. He was in a hurry to sell so he could repay the loan he had on the bus. I flew out, looked over the bus, looked over the maintenance records, which were thorough, made an offer, and he agreed. We both agreed that the sale was contingent on a good inspection done by a nearby bus and truck repair facility that I had found online with deep expertise in the Detroit Series 60, Allison transmission, and they even owned a couple of Prevosts that they rented. I gave the guy a check for $1,000 to hold the bus. I knew that there would be a delay while I got my financing approved. I had done a pre-approval, but that was for a different bus. I wrote up my understanding of our deal in an email that I sent to the owner while I was with him. He replied with an email agreeing to our terms. I made arrangements with the service facility to do the inspection. The owner agreed to take the bus to the service facility for the inspection. I got a very thorough and positive review from the service tech. (Needless to say, Jeff Rowe later found three small problems that the tech had missed.)

    It ended taking several weeks longer than I expected to get the transaction finished. The owner was was getting antsy because of the delay. I believe that had it not been for that $1,000 check and the email agreement, he would have tried to find another buyer with cash. We ended up doing a three-way wire transfer from my financing company and my bank to his finance company. Even that got screwed up and took a few more days to get right.

  • Brian

    Member
    April 12, 2017 at 7:25 pm

    H.J.: You said a couple of things I’d like to comment on.

    “Somewhere in the process money has to be sent to secure the coach in advance of final inspection.” I would be very unlikely to send any private seller money on a coach until I had seen the coach personally and met the owner … unless the seller was someone I was acquainted with and trusted like Buddy Brown or Dan Hilger or George Prentice or a guy Jeff Rowe said was someone who could be trusted.

    I would never send a private seller any cash to “hold” a coach until I could travel to see the coach. We lost one or two good ones because we couldn’t travel and losing a coach for that reason I’m wiling to take.

    Once I’ve looked at a coach, decided it met our requirements, made a decision this was the coach for us, determined that the seller hadn’t misrepresented it to badly, and either the price was where I thought I could negotiate a satisfacctory deal with the seller or we’d agreed upon a price contingent upon satisfactory inspection … then and only then would I consider giving the seller between $1,000 and $5,000 contingent upon satisfactory inspection and negotiation of a price to “hold the coach”.

    “but what are the other things I should be asking without getting too far in the weeds and the owner and he hangs up on me?”

    I would counsel you to ask anything you want to. When someone is selling a six figure motorcoach there should be no questions off limits regarding its condition, maintenance, or age. Period, no discussion.

    “And if a surveyor is necessary can you use someone with only plastic coach experience? That would be my last resort. If you’ve never owned a Prevost (or another motorhome/motorcoach), a good plastic coach surveyor is better than you or nothing.

    “This is my first motorhome and going it alone from the inspection standpoint is not something that fills me with good thoughts!” Most of us will agree with you on that one!

    “Where would you go to find a Prevost surveyor?” When you find that coach you think you’re going to want to have someone inspect, I’d recommend starting right here. Tell us about where the coach is located, what kind it is, and ask who would feel comfortable looking at it for you. If you find one in Racine, Wisconsin I’d be more than happy to look at it with you because its an hour away, especially if it a Liberty. I can probably find the more obvious subtle stuff, but keep in mind its not going to be like Jeff Rowe or Jon Wehrenberg looking at a coach for you. I think if you posted a request for a “Prevost surveyor” for a specific locale, you’d be surprised who might offer their services or even volunteer. You might get two or three good guys or gals to look at it for you.

    “This is my first motorhome and going it alone from the inspection standpoint is not something that fills me with good thoughts!” I was in the same boat as you are. Our Prevost was the first RV, camper, motorhome, etc. that I ever owned (and will be our last coach). Fortunately it was 18 miles from Jeff Rowe’s shop and I was fortunate to have the best in the business look at it. Hopefully you’ll find a coach that is accessible to someone who can give you an accurate assessment of the coach when you get to that point.

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