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Contract - check with the state's DMV if they have a 'bill of sale'.
Insurance - it's on the buyer.
Payment - cash if it's cheap; otherwise meet at their bank so they can issue a cashier's check to your name. Reason for their bank ... it's issued right there, so it's unlikely that they're going to try and defraud you with a fake cashier's check like the 419 scammers. Likewise, if they're financing the car (and it is possible to do so), the proper paperwork needs to be with the bank.
Tags - it should be current. In some states, the seller is also required to provide a current emission/inspection certificate.
Title - you sign it over to the buyer. No money, no title.
If you are going to accept a large amount of money invest in a counterfeit money detector pen. You can get them at any office supply store. Do not meet at your house for the transaction/inspection. If the person wants to have a mechanic go over the vehicle meet them at the shop. Also no test drives by yourself bring a friend to ride in the back seat. Any people the buyers bring with them don't get to go on the ride unless its a teen/parent situation. Good luck!
For the seller, it is very easy. The buyer hands you the cash. You give them the keys and the title, with your signature in the space "seller". (I don't think any state requires that be notarized anymore.) The buyer does everything else.
It is highly recommended that you receive, from the buyer, a signed statement that he bought the car from you on a certain date. Save that document. You might need it to protect you from any liability for any consequence of the use of the car after that date.
For the seller, it is very easy. The buyer hands you the cash. You give them the keys and the title, with your signature in the space "seller". (I don't think any state requires that be notarized anymore.) The buyer does everything else.
It is highly recommended that you receive, from the buyer, a signed statement that he bought the car from you on a certain date. Save that document. You might need it to protect you from any liability for any consequence of the use of the car after that date.
How does the buyer drive your car off after the transaction if you've removed your tags?
How does the buyer drive your car off after the transaction if you've removed your tags?
Just like any other car driven off a sales lot, no plates.
I had a sheriff suggest removing license plates on cars sold. Many buyers will not register the auto in their name till the tags expire, and often not even then. I sold a car to a friend and found out he went in the DMV two years with cash for registration and left the car in my name.
You give them the keys and the title, with your signature in the space "seller". (I don't think any state requires that be notarized anymore.)
Pennsylvania does!
Plus, the buyer can't drive the car with no tags/plates at all in PA.
You and the buyer have to go to a Notary that does license work and you can only sign the title over to the buyer in their presence...hence a notary seal. You will also have to sign a mileage statement stating under penalty of law that the mileage is correct.
A bill of sale won't cut it in PA either.
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