Bill of Sale VS Title - Sportbike Forum: Sportbike Motorcycle Forums
 
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post #1 of 10 (permalink) Old 01-27-2006, 06:18 PM Thread Starter
 
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Bill of Sale VS Title

Here's the deal guys, I sold my Ninja 7 the other night and found a very pristine '02 Gixxer 1k w/ 2k mis. for $6500. The bike is about 3hrs away and I just got off the phone with the owner. He says that he just found out that the bank is claiming they never recieved the title from him when he purchased the bike with a loan through them. He says the DMV is giving him crap about getting a new one and of course the bank's dragging their feet. He says he still owes some money on the bike and said something about accompanying him to his bank to pay off the bike and the bank will mail me a New title. In the meantime he said we could write up a bill of sale for me to hold until the title arrives. This kind of crap sends up my scam alarm, but I had to get a second opinion. This bike is MINT!

Sorry so long, but whaddya think? What exactly does a bill of sale verify anyway?
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post #2 of 10 (permalink) Old 01-27-2006, 06:58 PM
 
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unless you physically get the bike and the Bill of Sale with his full name and current address, then it would seem good. If not and he says the title is in the mail, then dont go for it. Also, tell him drop a few hundred bucks off the price until you get the title.
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post #3 of 10 (permalink) Old 01-27-2006, 07:01 PM
 
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yeah, as long as you get the bike and a bill of sale (to prove that you paid for it, it belongs to you now) when you pay for the bike i don't think it's a big deal. but i'm no expert either.
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post #4 of 10 (permalink) Old 01-27-2006, 07:03 PM
 
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I'd say call up your local DMV office and find out more info. You can get a bill of sale format from them and get it notarized.
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post #5 of 10 (permalink) Old 01-27-2006, 07:08 PM
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Sketchy

Buyer beware. Untitled bikes can be a pain in the ass to register.
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post #6 of 10 (permalink) Old 01-27-2006, 07:11 PM
 
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Ask him for the vin and have your local PD run it. If it's not stolen... good. You're halfway there. Sadly, you still have to take the guy's word that he is going to pay off the loan with the money you give him. If he takes the money and runs, then you still don't get the title. Then you have to sue him, and hope he comes to court. Then he still has to pay the bank. All this time, you're still waiting for the title to your new baby. After a year of court cases waiting and bullshit. He finally pays. And you get your title. But, you just wasted 1800 dollars in court costs. Yipee. This, of course, is the worst case scenerio. Hopefully, you get the bill of sale, and 2 days later, the title. Best of luck either way.
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post #7 of 10 (permalink) Old 01-28-2006, 06:53 PM
 
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roadstain - you're one pessimistic somasofabitch !

but i agree that's worst case
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post #8 of 10 (permalink) Old 01-29-2006, 04:11 AM
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if you get with dmv and have the bill of sale noterized and you go to the bank with him and he pays it off in front of you and instructs the bank to mail the title to you, i think you should be ok.

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post #9 of 10 (permalink) Old 01-29-2006, 01:57 PM
 
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Quote:
Originally posted by ESanders2
roadstain - you're one pessimistic somasofabitch !

but i agree that's worst case
As you can tell I've had a bit of a problem with such things. So yea, I'm a bit pessimistic. I've spent a lot of time in the stunt community... sadly there are a lot of shitbags who pull stuff like that. More than likely it'll be no problem. Especially if you do like scott said and go with the guy and get the bill notarized. Best of luck to you man.
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post #10 of 10 (permalink) Old 02-03-2006, 10:33 PM
 
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i don't see a bank giving a loan with no title.
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