April 12, 20187 yr 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, 20187 yr by Spur08
April 12, 20187 yr 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.
April 12, 20187 yr Author 30 minutes ago, GlenFromTheMailRoom said: You didn’t sign anything, did you? What do you mean? Thank you all for the guidance and resources.
April 12, 20187 yr Author 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?
April 12, 20187 yr 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.
April 12, 20187 yr 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.
April 12, 20187 yr Author 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.
April 12, 20187 yr 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, 20187 yr by dingleberryswitzer
April 12, 20187 yr 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.
April 12, 20187 yr 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?
April 13, 20187 yr Author Waiting to complete the transaction. His son had to secure financing and I'm still waiting on the title to arrive in the mail.
April 16, 20187 yr Author 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?
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