How to unlock Motorola the phone yourself (V3 unlocker)

You need to downgrade your boot loader to 7.D0, be aware that this can
be risky.

* You may find afterwards that when starting in bootloader you have
only a blackscreen, so long as the phone works ok and you can connect
in bootloader that is nothing to worry about

* Ensure your phone is fully charged before starting. I recommend
before beginning you first make a backup of your phone as described in
the back it up section. Especially the
PDS back up. This assumes all necessary drivers are already installed.

1) Start in bootloader mode (hold # and * while powering on)
2) Identify your current bootloader (e.g. 8.26 or 7.E0)

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3) If you already have bootloader
7.D0 skip to step 6


4) Download bl_826-828_to_07d0_for_V3_by_Archy.V2

5) Flash with this file using RSD
Lite (described at the
Flashing and Flexing section)

6) Download and extract the MOTO UNLOCKER SOFTWARE
7) Start in bootloader mode (hold # and * while powering on). In
bootloader mode after the downgrade it is not unusual for the phone to
show a blank black screen with no info, don't worry, though,
it is still in bootloader mode!
8) Open up Moto Unlocker and connect you phone

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9) Run Moto Unlocker click connect
and yes! Once finished it will look like
this:

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Congratulations, your Motorola Razr V3 is now unlocked!

btw I cannot take any credit for this - credit is due here to Scotty2, Archy and Quackers for
the bootloader
downgrade.

Some Unlocking Threads on MoMo if you need help or would like to read
more:
The Most Complete Unlocking Thread
Unlocking your V3
White Screen/Can't Unlock
Unlocking Kit by MrBucket01