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think i got a buyer

oldgoat

By oldgoat
in Watering Hole

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oldgoat

oldgoat

Posted
Posted

I put the old girl up for sale on facebook. and got 3 offers. im asking $1500. and have 2 that are interested at that price. they both live 3 hours away from me.

im prety sure the bike is road worthy to make that ride back to there place.? as i claimed it was. i did tell him to have someone follow him. what i want to know is how do i write it up. bill of sale? so that im covered? maybe sold as is where is? no warrenty. implied? and no refunds? any help would be appreciated.

also have to get it down off the center stand and out to the road. but i think we can do that if he wants it. this will pay off the balance on my car. and i can be stress free for a while.another bike will come along some day. and im not going away from here.

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MJ44

MJ44

Posted
Posted

If you want to make a bill of sale, there are templates on Microsoft Word (I used it when I bought my bike) and probably other places on the internet.

 

I've given bills of sale that were hand-written on scraps of paper and used the template. It doesn't really matter as long as both parties agree.

 

There may be information on your state's DMV site. In PA there is "no warranty" when selling a used vehicle by an individual.

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oldgoat

oldgoat

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im just trying to cover my butt.

as im darn sure this bike will make the trip. i just dont want the person to come back and say hey it broke down half way. and now i want my money back then i have to fix what ever broke. im a pretty darn honest guy. if it where not for me needing the money to pay off my car. i would not sell it. i fixed a lot of things on it. and she looks fair for a 27 something old motorcyle. i started asked for $1500. and heck i think thats fair. but i can be talked down to no less then $1100. for non members LOL

he says he,s a godd mechanic at wrenching. and i stated the carbs might need work. every thing else works. new tires about 2 years ago with less then 500 on them. all calipers and brake pads done a nice exhaust put on it. i think some seafoam and new plugs and she will run like new? but i just dont have the $ and time. and my knees are bad. if all goes well and i get my work comp settled. another bike will be under my arse. maybe not a venture but it will be a yamaha.

so this is what i wrote up

I_ James hack-- here bye sell a 1984 yamaha venture royal

to______? for the sum of__? on _______date.

with 77,400 miles. bike is sold as is where is. no warrenty and all recipets are in the plastic bag. with owners book. and tools that came with the bike.

sale is final. and transfer and title is to be done here at the DMV. i will not let you ride the bike home on my plates . and all extra parts are to be taken with you at time of sale.

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yamtom

yamtom

Posted
Posted

Hi,

I know that bill of sale would work here in Michigan. Good luck with all of this and lets hope your knees get better, your work gets easier, a good bike shows up cheap, and your customer is pleased as punch with your Venture. Good Luck. Tom

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LilBeaver

LilBeaver

Posted
Posted (edited)
[...]

I_ James hack-- here bye sell a 1984 yamaha venture royal

to______? for the sum of__? on _______date.

with 77,400 miles. bike is sold as is where is. no warrenty and all recipets are in the plastic bag. with owners book. and tools that came with the bike.

sale is final. and transfer and title is to be done here at the DMV. i will not let you ride the bike home on my plates . and all extra parts are to be taken with you at time of sale.

 

If you are going to do this at the DMV then once it is in his name, you are all set. The DMV will require a signed title OR a bill of sale. I never mind going on the side of caution with someone I do not know and do the extra 'paperwork' just so that everything is crystal clear.

 

To answer your question though, in Illinois there is no 'official' bill of sale document. Any type of bill of sale is utilized only if the original title is not available and cannot be replaced (certain conditions apply such as some home-built vehicles, etc etc; not applicable in your case).

 

To be thorough with your bill of sale I would include the following:

- Seller's name (as well as any additional co-owner's information), date of birth, address, and current phone (or driver's license number)

- Buyer's name, date of birth, current address, and current phone number of the buyer (driver's license number is never a bad idea but name and D.O.B. is usually sufficient to find someone's official records).

- A clear and concise statement that the vehicle is being sold, signed by all owners [signature, printed name and date].

- Official sale price of the vehicle

- Detailed physical description of the vehicle, including the vehicle identification number (VIN), odometer reading and the license plate number (especially if the plates reamain with the vehicle)

- Additional statement by the seller(s) that there is no lien or other encumbrance on the title of the vehicle

- Buyer's signature, printed name and date agreeing to the terms and also agreeing to transfer ownership (not totally necessary if you are doing this AT the DMV).

Edited by LilBeaver
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djh3

djh3

Posted
Posted

May be overboard here, but...... Do you have to have a motorcycle indorsement in your state? If he rides it home on your tag are you leaving your insurance on it till he gets home? If he dont have endorsement then its just like no licence at al and if he crashes, well unfortunatly the ins company could skate out.

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bkuhr

bkuhr

Posted
Posted
and transfer and title is to be done here at the DMV. QUOTE]

 

Good to be done at DMV, then no issues.

 

Kentucky requires title to be notorized, if not done then have to play tag 3 hours apart to get done.

Also Kentucky requires proof of insurance for regristration, (required for buyer to legally ride it home), but could complete just transfer of ownership at DMV, and buyer registar as non-op and trailer home, then re-registar later with insurance. Point-Make sure buyer prepared to provide insurance if wants to ride home.

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Pam

Pam

Posted
Posted

good idea to include the serial number in the bill of sale, so it is clear what he is buying and the buyer can't pull out a simialr parts bike and claim you screwed him over..... Cash changes hands, and the TOD and bill of sale are completed. As for insurance it his bike now, not your problem how he gets it home

 

Just my 2 cents

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Flyinfool

Flyinfool

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Posted

Check with your state DMV. Some vehicles the plate stays with the vehicle and some you keep the plates.

 

What you have in your bill of sale looks good except you need to add the VIN number and describe all parts that are included that are not part of the bike. I would also ad a time of sale.

 

Add 2 signature lines, one for you and one for the buyer.

 

Make 2 copies and you and the buyer sign both copies so you each have a signed copy of the same thing.

 

The deal does not have to be done at the DMV, once the title is signed and exchanged for "CASH ONLY" (do not accept anything but CASH unless you know the buyer) it is no longer your problem. If you are going to conduct the deal at the DMV then you will be responsible to get the bike there and yourself back home after the deal. Do NOT let the buyer ride the bike there while it is still yours. Do not let the buyer take the bike for a test ride. If he wrecks it, it is now your problem. You have no idea if he really has the skill to handle a bike this big.

 

If the state does not require you to leave the plates on the bike, DO NOT leave the plates on the bike.

 

I once sold a car and 6 months later it was involved in a hit and run, the police tracked it back to me via the VIN number, I handed the LEO the recipt that said I sold it and he said thank you and was on his way. The guy that bought the car never registered or plated it.

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oldgoat

oldgoat

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well the guy joined our group here. and sent me a PM i have the title in hand. and he will trailer it or truck it home. and will ask for advice on working on the old girl on this site.

so if all goes well i sold the old girl and we have a new member?:cool10:

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LilBeaver

LilBeaver

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In Illinois, the license plates belong to the owner NOT the vehicle. They can not be transferred to a different owner, only to another vehicle (owned by the same individual).

 

http://www.cyberdriveillinois.com/departments/vehicles/title_and_registration/transferring.html

 

Another suggestion I have is to file the official 'seller report of sale' with the state of Illinois.

http://www.cyberdriveillinois.com/publications/pdf_publications/vsd703.pdf

 

This lets the state know that you have turned over ownership to the new buyer and releases you from any liability that follows with that vehicle. This protects you from instances where a new owner does not actually go through the proper procedures to actually own the vehicle.

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Keemez

Keemez

Posted
Posted (edited)
it wont? that,s not what i wanted to hear. im thinking the bike is at least 8 ft? and even if he kept the tail gate down it wont work? maybe he should rent a uhaul motorcycle trailer?

 

Owner manual lists overall length at 100inches. Compact pickup beds are at best 6.5 feet (78 inches) long. Even with the tailgate down you're not going to have the rear of the bike supported very well. A trailer (or full size truck) is a far better option.

Edited by Keemez
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oldgoat

oldgoat

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he,s on his way to pick it up tonight.

i have all the info i need just sign the title.

take my plates off it. make out a sold as is and im good to go. at least that was what the DMV told me. it will go on a trailer. and away it goes. sad to see it go but happy that im getting my ducks in a row. car is more important right now. bikes come and go. and i will be back on one. maybe not this year. but it will happen. and im sure im welcomed at dons in a cage? wish me luck. and i am not going away from here.

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oldgoat

oldgoat

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well it,s gone:mytruck1: kind of sad to see her go.

i tossed in all the extra parts and a helmet. he said he will join the club. and thats one more member:cool10: now the car will paid off.

so no more worries about the wolf at the door for it.

this in no way means the rootbeer gang can forget about me.

you know who you are. so if your comming this way EUSA1 make sure and call the oldgoat. i dont want to lose my friends.

i enjoyed all the help.

and because i dont ride does not mean i wont help out. in any way i can. god bless you all

oldgoat

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