Selling the car-the process ???

[97tbird]

OK I have a buyer for the Tbird (selling it for $1300). They wanted to drive the car home today after giving me cash and said 'just sign the title and we have a notary in the family and we can get the rest done' etc but i declined, as I have to find all the documents and get a lot of stuff out of the car (They called about 10 min after I listed it on Craigslist! I never expected it to happen this quick)

at least it goes to a good home, the dad is a Ford mechanic and is getting it for his son who wanted to drive the car home RIGHT NOW!

I persuaded them to meet me tomorrow at their place, to do it 'properly':

Never having sold a car privately before, I have some questions:

What steps are exactly done?
I think both parties should go to the DMV right? and I sign the title and hand the keys over in front of them? is that it?
Shall i print and prepare a receipt for the cash transaction?
Then notify my insurance that we sold the car?

EDIT: well after researching some more on NC DMV website I am more informed now, but any tips are still welcome.

 

[Audios]

In NJ its just sign the seller area of the title and the selling price, with the odometer reading. Take off the plates there, hand them in to dmv when you register the next car and cancel insurance. Make sure theres no lienholder, or other name on the title that needs to be signed off on.

 

[simple_gifts]

I've always had a Bill of Sale written up that indicates it is sold "as is" with no implied warranties. I've never had an issue, but then again this is CL. Hand written BOS is legal in CT.

 

[demarpaint]

I always write a bill of sale, similar to the above post, or stating "sold as is for repairs". It will help keep you out of trouble if something goes wrong. If the car has a state registration sticker remove it. Leaving it on can cause all sorts of problems.

 

[dparm]

Just Google around for a bill of sale template. It should basically say that you haven't deceived the seller, the car is sold as-is, etc.

 

[97tbird]

OK so I found a template for a Bill of sale online. Thanks
(it doesn't HAVE to be signed in front of notary right?)

BUT looks like in NC the TITLE etc must be signed in front of a notary.
Although this guys said he has a notary in the family and I can just sign the title and give it to them
....I feel better doing it at the DMV though.

 

[Errtt]

In addition to what's mentioned - Out here (Calif) we have an additional form at the DMV or printed from their website that the seller completes and can send in (10-days from sale). Its a release of liability.
One never knows how long the buyer takes to get to the DMV, so as far as the DMV is concerned, no transaction/changes has taken place until then. Hence the extra form to get the seller liability through the system.
The site also has generic "Bill of Sale" forms (just fill in) etc.

Had a friend who sold her car. Later she was getting tickets in the mail. I remember the 1st two were for parking in handicap half way across state. For awhile, she had done nothing after selling her car, didn't notify the DMV, and apparently the buyer didn't either. A handful of tickets cause her more headaches than her norm.

 

[The_Jeff]

If you need it signed in front of a notary DO IT

DO IT

DO IT DO IT DO IT

and write the buyer's name in the proper field, probably required.

If they don't want to do it, they can pound sand, someone else will be along.

If at all paranoid, make two copies of the bill of sale and make them sign one for your records.

 

[97tbird]

oh yeah I already have TWO copies of the BOS.
I am going to ask the buyer to meet at DMV and do everything there, or else I have 3 more interested parties.

 

[donnyj08]

Originally Posted By: eljefino
If you need it signed in front of a notary DO IT

DO IT

DO IT DO IT DO IT

and write the buyer's name in the proper field, probably required.

If they don't want to do it, they can pound sand, someone else will be along.

If at all paranoid, make two copies of the bill of sale and make them sign one for your records.


good advice. also most banks or tax filling companies have a notary on staff. usually for a small fee they will provide their services. ask your current bank if they have someone on staff who will assist you in the notary side of the sale.

almost always a bank manager/assistant manager is a notary public, here in Indiana a notary isn't required, but it is a nice security. the BMV process usually goes smoother as well if the title is notarized.

 

[JayhawkRoy]

Where I am, the DMV does not provide notary services. I use my bank. Meeting at the DMV is generally to insure that the title is properly transferred, so your liability is eliminated.

Nothing wrong with using their notary so long as the person is available to do the notary piece in your presence. Check with NC DMV on whether they require a notarized bill of sale, or not. Sometimes a separate odometer statement is also needed.

Each state procedure is different.

 

[The_Jeff]

I suspect the notary thing is an attempt to

1) make people trade at dealers as it's more convenient and
2) stop (slow down) "curbstoning" and other middle parties flipping cars without titling in their name, paying taxes & fees.

 

[97tbird]

I checked : NC doesn't REQUIRE any bill of sale, notarized OR otherwise, but it's advisable. (Of course I will do it)

odometer statement is only required separately in NC only if the car is less than 10 yrs old.

I just texted the buyer with my conditions, and he agreed to meet at DMV (says he wanted to save some $$ as his mother is a notary or something)

SO do i have to remove the tags there and hand it over to the DMV so that liability is cleared? then how does the dude drive the car home without tags? That part confuses me.

THIS IS WHAT NC DMV SAYS: (SEE THE UNDERLINED PART)

"...
Handle any applicable lien situations with your lienholder. This may include providing the buyer with a lien release or information for the Lien Section of the Title Application.

If the vehicle is less than 10 years old, record the current odometer reading on the title, or request an Odometer Disclosure Statement from the DMV.

Complete, sign, date, and have notarized the current title with the buyer (only the seller needs to be present during notarization).

Provide the buyer with a completed Damage Disclosure Statement and make sure he understands and adds his signature.

Remove your license plates. If you don’t plan to transfer them to another vehicle, you must return them to the DMV.

Give the buyer the above documents so he can continue the title transfer at his Vehicle & License Plate Renewal Office.,,"

 

[Donald]

The thing you need to do to protect yourself is to make a copy of the front & back of the title after its filled out and signed by both parties.

In a worst case before they go to DMV they throw some plates on the vehicle drive it and get into an accident. The vehicle is still titled in your name according to DMV so you need some kind of proof that it was indeed sold.

In most cases the Bill of Sale of for the sales tax people. You can also use a DMV sales tax form.

 

[JayhawkRoy]

The choice is to park the car at the buyer's house, take the plates off and then meet at DMV, or meet at DMV with the T-bird and complete the transaction there. It is the buyer's problem to get the car home legally. As a buyer, I prefer to park the car and then conduct the title/registration procedure in another vehicle.

In general you turn in your plates, and the buyer gets new plates upon presentation of the notarized title indicating the sale and payment of any applicable fees and sales taxes. I don't think NC allows for transfer of plates to the new owner. At least that is my reading of the NC DMV instructions.

 

[97tbird]

Well we agreed to meet at the the DMV. I guess we'll have to figure out something. Perhaps go to the buyer's place after DMV and take the plate off...

 

[exranger06]

The buyer can get a temporary plate, or he can probably just register the car and get his own plates right then and there, while he's at the DMV. Either way, it's his problem, not yours.

 

[97tbird]

Yeah I know but I feel bad

I mean he has to get it home...
I don't think DMV does lic plates, it's separate at the lic plate office or whatever in NC

 

[01rangerxl]

When I bought my Explorer I met the owner at the DMV and had it notarized there, then registered it and got my tag. All at the same office, Gaston County. I bought insurance in the parking lot over the phone. The title for my current Ranger was also notarized at the DMV before registering it (Orange County).

When I sold my previous Ranger I got the title notarized at my bank, and the buyer brought a tag from his old truck to register it later at the DMV (Mecklenburg County). Technically that's not legal in NC, but I guess it worked out for him.

The DMV charges $5 to notarize. The bank is usually free if you have an account. There won't be as much of a line at the bank, but you still need to register and tag it. In NC, you are not supposed to drive the vehicle without a current tag (and insurance) registered to that vehicle, or a 30 day temp tag from a dealer.

 

[GreeCguy]

Do whatever makes YOU feel comfortable. I sold a car one time to a fellow who wanted me to simply sign the title and had it over to him without him filling in his name. I kept asking him why and he finally told me he was going to "flip" the car, (fix it up and sell it) and he wanted to skip having to file the title in his name. I was very uncomfortable with this but did it anyway as we were moving and I had to get rid of the car. I did print up a bill of sale and printed up a paper for him to sign stating what he was doing "just in case." Even so, I worried about that stupid car for months and swore I would never do anything like that again. Nothing bad happened, (it was over ten years ago). But ever since, I'm like Frank Sinatra and do it "my way."