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Question regarding selling vehicles private party:
Posted on 8/14/13 at 3:37 pm
Posted on 8/14/13 at 3:37 pm
Here is the short question:
Is a notarized bill of sale sufficient documentation for an individual to register and insure a vehicle in the state of Louisiana???
I have a buyer for my truck ( which still has a lien on it). I called the lien holder to request that they send the title to a local branch, so that me and the purchaser of my truck could do the pay off and title transfers right then and there..
Issue: the title is an "electronic title". I was told that upon payoff of my truck, the bank releases its lien and information is sent to the DMV, who will then process and send me the hard copy of the title, in my name...
I was told this a 2-4 week process for the DMV....... So... this should be a starting point for discussion.
plz halp
1
Posted on 8/14/13 at 3:43 pm to thedice20
Just did this last year.
Wifes car had a lien on it.
Got the buyer to meet me at the bank with a check and gave it to the bank.
We then went down the street and got the bill of sale notarized.
When the check cleared, they mailed me the title and I passed it on to the buyer. Heres the important part.. MAKE SURE THEY GIVE YOU A CERTIFIED CHECK!
My buyer did not have a certified check, and it took about 2 weeks for the bank to clear it, holding up receiving the title even more.
After I received the title, we went to the notary again, but I cant remember exactly what we did.
After that, he was on his own for the rest.
ETA: Yes, it is a bitch. It could have gone more smoothly if my buyer was a different person. Make 100% sure they give you a certified check, or it will be hell waiting.
More importantly, what you stepping up to?
Wifes car had a lien on it.
Got the buyer to meet me at the bank with a check and gave it to the bank.
We then went down the street and got the bill of sale notarized.
When the check cleared, they mailed me the title and I passed it on to the buyer. Heres the important part.. MAKE SURE THEY GIVE YOU A CERTIFIED CHECK!
My buyer did not have a certified check, and it took about 2 weeks for the bank to clear it, holding up receiving the title even more.
After I received the title, we went to the notary again, but I cant remember exactly what we did.
After that, he was on his own for the rest.
ETA: Yes, it is a bitch. It could have gone more smoothly if my buyer was a different person. Make 100% sure they give you a certified check, or it will be hell waiting.
More importantly, what you stepping up to?
This post was edited on 8/14/13 at 3:51 pm
Posted on 8/14/13 at 3:50 pm to Polar Pop
Yes, ive maid it explicitly clear that i wanted a cashiers check.
I am just trying to figure out how he can legally be driving my old truck without the title in hand ( for 2-4 weeks)
so did you have to do anykind of lien release or notice of vehicle transfer through the DMV?
I am just trying to figure out how he can legally be driving my old truck without the title in hand ( for 2-4 weeks)
so did you have to do anykind of lien release or notice of vehicle transfer through the DMV?
Posted on 8/14/13 at 3:59 pm to thedice20
From LA Sportsman Classified website:
I haven't had experience with this, but I guess it's possible.
quote:
Be aware that banks WILL cash fake cashier checks and money orders and will hold you responsible for them when the fake is discovered.
I haven't had experience with this, but I guess it's possible.
Posted on 8/14/13 at 4:02 pm to TIGERRVER
quote:
quote:
Be aware that banks WILL cash fake cashier checks and money orders and will hold you responsible for them when the fake is discovered.
I haven't had experience with this, but I guess it's possible.
well thats just dandy
Posted on 8/14/13 at 4:10 pm to thedice20
I guess there are a few "safe" options:
Cash
Go to buyer's bank and cash check with him preset before releasing vehicle
Money transfer to your account
It's a shame, but that's what it's coming to...
As far as title, all the buyer needs is a bill of sale to be legal... and of course insurance.
Cash
Go to buyer's bank and cash check with him preset before releasing vehicle
Money transfer to your account
It's a shame, but that's what it's coming to...
As far as title, all the buyer needs is a bill of sale to be legal... and of course insurance.
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