Re: Why give the payoff amount?
Thanks to all for the insight and viewpoints. I spoke with my bank today and they said it is NOT unusual for the loaning bank to want the payoff amount to ensure that after they transfer the loan amount that the loan will in fact be free and clear.
I suspect there are any number of scenarios that could be different than this but that could lead to many rabbit holes to drill down into.
In my case as I put money down on the boat, the loan payoff and value of the vessel are not related. I was concerned that the buyer would try and drive me to a "payoff" number for final negotiation. She was maybe trying to see what I "owe" and thinks me just getting out of the loan would satisfy me. Again thanks for the inputs.