Selling update...a few questions...
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Selling update...a few questions...
Got an offer for the car, both parties agreed to it...the next step is this gentleman would like to get the car checked out at a local mechanic prior to completing the sale. I have agreed to go with him on Saturday morning so he can be reassured that the car is in excellent condition. Is there anything I should look out for?
What other steps should I take as the seller to protect myself from possibly getting ripped off?
I know I need a written contract of sorts detailing the car being sold at $X and under "as is" conditions, but is there anything else I should cover?
What kind of payments are ok/not ok to accept? I would prefer a bank certified check, but what else is acceptable?
What other steps should I take as the seller to protect myself from possibly getting ripped off?
I know I need a written contract of sorts detailing the car being sold at $X and under "as is" conditions, but is there anything else I should cover?
What kind of payments are ok/not ok to accept? I would prefer a bank certified check, but what else is acceptable?
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I'd complete the sale at either your bank.....
... so that you can verify payment, or at the local DMV (MVA or whatever your state calls its Motor vehicle administration)so that you can properly transfer title.
Ideally, you'd do your transaction at your bank and then you would be so nice as to go to the MVA with him to verify that he has all the paperwork for a smooth transfer.
Be careful with the mechanic to assure that he is truly independent and not a shill for the customer - "oh, man, your hexidecimal bionic flux generator is about to go bad - that'll cost 1200 to repair...."
Ideally, you'd do your transaction at your bank and then you would be so nice as to go to the MVA with him to verify that he has all the paperwork for a smooth transfer.
Be careful with the mechanic to assure that he is truly independent and not a shill for the customer - "oh, man, your hexidecimal bionic flux generator is about to go bad - that'll cost 1200 to repair...."
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yeah thats one thing that im worried about...
i feel really confident that there's nothing wrong with the car and the buyer seems like a straight shooter(older man, retired)...ideally im hoping for a quick once over, and a thumbs up from the mechanic...I hope there's no shady business happening.
The buyer just called and we moved the date up from Saturday to this Thursday...sounds like he wants it pretty bad.
Id hate to see it go, but once I get my finances in check Ill be looking for a 4.2
The buyer just called and we moved the date up from Saturday to this Thursday...sounds like he wants it pretty bad.
Id hate to see it go, but once I get my finances in check Ill be looking for a 4.2
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Doing the deal at your bank protects you....
...and both of you going to MVA protects both of you and eases the deal for him. I've NEVER had an MVA transaction go smoothly the first time unless both seller and buyer were there....
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I just did this.
1. A cashier's check is as good as cash, so no need to go to a bank. He should bring a cashier's check.
2. You may be able to find a Bill of Sale at the web site for your DMV (MVA). Maryland has one.
3. Buyer probably needs to take the registration, signed over to him on the back, plus the bill of sale, to the DMV in order to get temporary plates. I would not let him take the car with your plates.
2. You may be able to find a Bill of Sale at the web site for your DMV (MVA). Maryland has one.
3. Buyer probably needs to take the registration, signed over to him on the back, plus the bill of sale, to the DMV in order to get temporary plates. I would not let him take the car with your plates.
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Unless the cashier's check is forged.....
...unless you work in a bank, you probably don't know all the bank names and types of checks. For this kind of money, I'd meet the guy at my bank, deposit the check and drive with him over to MVA/DMV. Unscrew the plates and get the car signed over and the plates turned in.
It takes longer that way but there is almost a zero chance of getting a bad check or having the buyer (or seller) pull a fast one with MVA....
The Bill of Sale from MVA is a good idea.
It takes longer that way but there is almost a zero chance of getting a bad check or having the buyer (or seller) pull a fast one with MVA....
The Bill of Sale from MVA is a good idea.
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Thread Starter
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thanks guys, this helps a lot...
Im going to insist on a bank certified check (since my bank is out of state)...I just printed a bill of sale form which I will have both parties sign and which will function as a receipt. I'll go to the DMV if he would like, but other than the bill of sale and the check, he's free to take the car (no plates) and the signed title right?
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Check your DMV site for what he needs......
...and are you sure that a cashier's check from The First National Bank of Hoboken is any good? I can print you up a nice one using my color laser printer and some check blanks I bought at Staples.
Let's see, A6 quickly sold at a dealer for $12k, minus 1k for a laser printer equals profit of $11k...
You can certainly go with him to his bank as well...
Let's see, A6 quickly sold at a dealer for $12k, minus 1k for a laser printer equals profit of $11k...
You can certainly go with him to his bank as well...
