Selling a Car

[Spur08 384]

Tomorrow, it’s likely that I will be finalizing the sale of my wife’s vehicle.  What documents should I have prepared for the buyer to sign?  The buyer is a late 20s slacker whose dad has done most of the interaction, negotiation, etc.  The dad wrote me a deposit ($1K check) that has cleared the bank but he said his son still needs to line up the financing for the remaining $9K.  Do any of you see any issues or red flags with this?  I’ve done some due diligence with the name and address stamped on the check and everything matched on Dallas CAD.  And, FWIW, his wife’s FB has him and his very white family in it…so there’s that.

Edited April 12, 2018 by Spur08

[GlenFromTheMailRoom 1640]

You didn’t sign anything, did you?  

[Brewin’1up 34]

Its pretty simple really. Sign and date the title. Print and fill out "Form 130-U Application for Title" from the Texas DMV website https://www.txdmv.gov/forms. In addition you can also do "Form VTR-346 Transfer Notification" from the same website - I usually don't, but you can if you want. Most importantly, TAKE YOUR PLATES off the vehicle, this will force them to actually transfer the title and get their own new plates.

[Okie State 3889]

All of what he said above. Also remove any toll tags.

[woohorn 1131]

Clear codes from any programmable garage door opener buttons.

 

 

[Spur08 384]

30 minutes ago, GlenFromTheMailRoom said:

You didn’t sign anything, did you?  

What do you mean?

 

Thank you all for the guidance and resources.

[Spur08 384]

One follow-up question. This is my wife's car, can I have her just sign the title beforehand and not attend the transaction at the bank or does she need to be present?

[woohorn 1131]

One follow-up question. This is my wife's car, can I have her just sign the title beforehand and not attend the transaction at the bank or does she need to be present?

Yes. Doesn't have to be notarized or anything if buyer happy her sig is legit.

[GlenFromTheMailRoom 1640]

1 hour ago, Spur08 said:

What do you mean?

 

Thank you all for the guidance and resources.

Pretty much anything can be called a bill of sale at this point.  Just be careful what you sign.  The buyer may call the deposit payment and if there's any documentation that's changed hands a "bill of sale" and demand the title.

People are assholes these days.

[Spur08 384]

Ah, I gotcha.  I did not sign anything.  He wrote a deposit (noted in memo line) that I cashed.  I will draw up the paperwork and make a bill of sale.

[dingleberryswitzer 2724]

3 hours ago, Brewin’1up said:

Its pretty simple really. Sign and date the title. Print and fill out "Form 130-U Application for Title" from the Texas DMV website https://www.txdmv.gov/forms. In addition you can also do "Form VTR-346 Transfer Notification" from the same website - I usually don't, but you can if you want. Most importantly, TAKE YOUR PLATES off the vehicle, this will force them to actually transfer the title and get their own new plates.

Tell the buyer you're taking the plates. I think they can print their own temporary plates.

 

Looks liked they'd need a "transit permit" 

http://www.txdmv.gov/motorists/register-your-vehicle/temporary-permits

Edited April 12, 2018 by dingleberryswitzer

[woohorn 1131]

Oh shit, I just realized you said it's your wife's car.

I left some stuff in the backseat that I'll want back.

[GlenFromTheMailRoom 1640]

14 minutes ago, woohorn said:

Oh shit, I just realized you said it's your wife's car.

I left some stuff in the backseat that I'll want back.

Do you REALLY need that Kenny Loggins album and half a bottle of Boone's Farm?

[Brewin’1up 34]

So... did the slacker and his old man rape you?

[Spur08 384]

Waiting to complete the transaction.  His son had to secure financing and I'm still waiting on the title to arrive in the mail.

[Spur08 384]

I have an interesting problem I've encountered while attempting to obtain the title of the my wife's vehicle.  The vehicle is paid, free and clear.  When I asked about the bank mailing us the title, they said that Texas was an electronic title state and that we would have to obtain it from the Texas DMV.  This presents a few problems.  First, if we apply for the title in person, will we be physically leaving the DMV with it or will they be mailing it to us?  Two, there is a 30 day waiting period to apply for a second title.  Does this mean the new owner can't transfer the title into their name until after 30 days?  Is there an easier way to do this title transfer?