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Old 07-21-2009, 05:48 PM
 
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A while back I was thinking about donating my old used car. For various reasons I am going to try and sell it to help cover some unexpected expenses that have come up. This will be the first time selling a car since moving the Raleigh and I am a little confused by the inforamtion requested on the Back of the Title.

Looking at the Title it appears that it when I sell the car I need to get the Title signed by both me (the seller) and the buyer and have it notarized. Is that correct? Do we have to sign it in front of the notary?

There is a question on the back of the title that has me puzzled it says:

"To the best of my knowledge the vehicle described herein:"

(Choose one): yes/no "Has been in a collision or other occurrence to the event that the cost to repair exceeds 25% of the fair market value."

What are the ramification if the answer to that question is "yes"?

My car was hit a while back and I never got it repaired. It runs great but the repairs are likely to be more than what the car is actually worth. What does this mean for the sale of my car?

Any help from those who have sold a car in this are would be greatly appreciated.

Thanks!
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Old 07-21-2009, 05:53 PM
 
Location: Chapel Hill, NC
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Quote:
Originally Posted by North_Raleigh_Guy View Post
Looking at the Title it appears that it when I sell the car I need to get the Title signed by both me (the seller) and the buyer and have it notarized. Is that correct? Do we have to sign it in front of the notary?
Yes, the role of a notary is to verify that the signature is actually of the person who is named on the document. Any notarized documents must be signed in the presence of the notary.
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Old 07-21-2009, 06:27 PM
 
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So I guess most people selling used cars take the buyer to a bank? That seems like the most logical place. I've never lived in a place where the Title has to be notarized. Seems like this just got a bit more complicated.

Are there any demolition derbys in the Triangle?
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Old 07-21-2009, 06:39 PM
 
Location: Chapel Hill, NC
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DMV will do the notarization too, although they charge the permitted notary fee (a few bucks).
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Old 07-21-2009, 07:09 PM
 
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Quote:
Originally Posted by North_Raleigh_Guy View Post
Are there any demolition derbys in the Triangle?
The Wake County Speedway has a "Dirt Cheap" class that you can race in Most of the cars in that class looked like they had been rescued from the shreader
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Old 07-21-2009, 07:41 PM
 
Location: Southeast US
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Quote:
Originally Posted by North_Raleigh_Guy View Post
So I guess most people selling used cars take the buyer to a bank? That seems like the most logical place. I've never lived in a place where the Title has to be notarized. Seems like this just got a bit more complicated.

Are there any demolition derbys in the Triangle?
When I sold my car, I met the buyers at the bank. That way I got cash and the title got notarized for free.
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Old 07-21-2009, 07:45 PM
 
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Originally Posted by JJingle View Post
When I sold my car, I met the buyers at the bank. That way I got cash and the title got notarized for free.
Thanks for the tip.

Boy, I put my car on craig's list today at 4pm and was hoping to get a nibble or two. So far I've gotten 9 phone calls and 3 emails about the car.
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Old 07-21-2009, 08:39 PM
 
Location: Raleigh, NC
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Quote:
Originally Posted by JJingle View Post
When I sold my car, I met the buyers at the bank. That way I got cash and the title got notarized for free.
Yes, it's a breeze. The buyer will most likely need to get a certified check from the bank (surely you're not going to take a personal check) so you'll be right there, anyway--then just go to a customer service rep and get them to notarize it. It couldn't be easier. Then you'll take your license plate off and send them on their way.

Quote:
Boy, I put my car on craig's list today at 4pm and was hoping to get a nibble or two. So far I've gotten 9 phone calls and 3 emails about the car.
Yeah, when I put mine on the newsgroup triangle.forsale (pre-Craigslist), I had a similar response rate! Just be sure they sound legit, and don't let them come to your ohuse if you can help it; I hear lots of tales of people using Craigslist to scope out places for future robberies.

Is your car a "gas-guzzler" that gets 18 or fewer MPG? If so, you can trade it under the "Cash for clunkers" program and get a credit for probably more than it's worth.
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Old 07-22-2009, 05:24 AM
 
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I just realized both my name and my wife's name appear on the Title for the Car. Does that mean we both need to sign the title and thus we both need to be present when doing so in front of the notary?
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Old 07-22-2009, 07:12 AM
 
Location: Cary NC
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Yes, you both need to sign in front of a notary, exactly as your names read on the title (DMV very picky about this). I'm pretty sure that the buyer's signature does not have to be notarized...check the title for verification....so you and your wife could take care of the signatures separate from the buyer if necessary. As for the collision damage question, the law requires you to reveal that to the seller and the only ramification for that is how it affects the value/sales price of the car.
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