Closing documents may be ordered after receipt of the final approval letter and after any approval contingencies what been cleared.
- Decide if you would like to roll the sales tax, unit licensing, and registration fees into your loan: This should be determined before you finalize your loan you need to check with your local DMV to see what the sales tax, and license fees are.
- Fill out request: To schedule a closing fill out the request to proceed with loan here and upload the following items in the process.
- Title: Ask for a copy of current title or if the unit has a lien ask for a copy of the registration. (Boats: Must upload the boat title, boat motor(s) and boat trailer.) This will show who the registered owner of the unit is and therefore who has the authority to sell the unit.
- If there is a current lien on the unit: .Lien On Title If there is a lien on the unit we must receive the lien payoff documentation with the title. The documents required are on the Seller Checklist and are below for your information: Click Here for the seller document upload area(you can send this to the seller)
Seller Documents to Provide:
- a.–Power of attorney: from seller. Download Seller Power Of Attorney
- b.–Loan payoff statement: – Interest accrues daily, so we need a loan payoff statement that is good for 15 days. This will allow time needed for Southeast Financial to issue payment to the seller’s lender. Typically the seller makes the request for the loan payoff and provides the payoff statement to the buyer. Due to privacy laws Southeast Financial cannot due this. It must have the following items: seller name, account number, overnight payoff address(no PO boxes),collateral, and per diem per day.
- c.– Southeast Financial authorization to payoff form: This form will be sent to the seller’s lender along with the loan payoff check that will be issued by Southeast Financial. The authorization for payoff form informs the seller’s lending institution that the seller has authorized his/her loan to be paid off and that the title of the unit being held as collateral on the loan should be sent to Southeast Financial .Download Authorization To Payoff Form
- Driver’s license: Upload a copy of the front and back of your proof of identity to verify your identity in order to comply with license requirements and protect us from fraud. You can upload a . All files must legible and not expired
- Purchase agreement: This document itemizes the unit you are buying and verifies that everything you agreed to buy is listed and correctly priced. (This has to be signed by the buyer and seller. Your loan will send this to both of you through Docusign to sign electronically)
- Schedule pre-closing call: During this phone call Southeast Financial will verify your identification, VIN number of asset you are purchasing & go over final numbers. You schedule this when you fill out the proceed with loan form(URL listed above).
- Schedule requested time to receive documents: Remember you must have completed the phone interview prior to receiving your loan and you must have submitted all documents . Click here to schedule.
- Proof Of Insurance: You are required, as part of your loan agreement, to maintain comprehensive and collision insurance coverage on your unit for the entire term of the loan. The insurance must be in effect before we can fund your loan.
- Southeast can help you with this . We work with the top rated insurance companies for recreational vehicle coverage to insure out customers get the best coverage at the lowest price just click on your appropriate unit type and fill out the form request (M-F we will get you the quote within a couple hours) click
- RV Insurance Quotes
- Boat Insurance Quote
- Motorcycle Insurance Quote
- Send us verification of insurance, through our convenient online service – Click Here (in your loan packet there is a sheet with the insurance address for your lien holder)
10. After we receive your signed loan documents, if everything is completed correctly it normally takes 2-3 business days for you to receive your funding in the form of a cashier’s check
11. Register & title your unit: You will need to pay sales tax , licensing, and registration fees(which you can pay out of pocket or rolled into your loan-see Step 1). You will need the title to complete this and we will FedEx the title to you as soon as we receive it from the sellers lending institution. It usually takes 2-4 weeks for us to receive it. In the meantime you may receive automated email notifications to send us your registration you can ignore those until you receive your title
- As soon as we have received the documents above and the pre close verification call has been completed we will send you all the required loan documents.
- Once the documents have been completed and you are ready to return them to Southeast Financial we recommend that you scan and email a copy of the closing documents to [email protected]. This will allow our funding department to get an early start on checking over your documents to verify that everything is completed correctly. Once you email the documents to us you will need to ship the original loan documents to our office. We highly recommend that you use FEDEX Priority Overnight shipping. This is the only shipping method that will ensure that we receive the loan documents early enough the following day to start your funding process that day. You must return your document within 24-48 hours of receiving them(make sure to include your insurance binder)
- After we receive your signed loan documents, if everything is completed correctly it normally takes 2-3 business days for you to receive your funding in the form of a cashier’s check.
- When your recreational financing is complete, you have 30 days from the date you received your title from us to send us a copy of your vehicle registration with current lien holder information. You will receive payment books from the bank about two weeks before your first payment due date.