selling a car in Maryland

[mardi gras skin]

I'm looking over the process listed on the DMV sight and it looks like we don't need to do a bill of sale because its a 10 year old car that will sell right around the NADA price. If we follow the instructions, the end result would be that the buyer will walk away with title and car but no plates. I will walk away with a cashiers check, and the plates, but no other proof that a sale took place.

Until he registers the car, am I on the hook if he does something stupid?

[hockeysc23]

If by bill of sale do you mean a contract?

I'd ALWAYS do a contract for something like this even if it isn't required. No sense not to have you all sign a deal saying he is getting car: ____ vin# _____ at mileage _____ for $XXXX on date _____ both parties sign.

[skinfan2k]

hmm, when we bought our used car, we made sure there was a bill of sale along with a notary stamp

[Mark The Homer]

Isn't there a contract on the back of the title? You print the amount of the sale, the names of the buyer and seller, and you sign it.

Right?

[mardi gras skin]

Isn't there a contract on the back of the title? You print the amount of the sale, the names of the buyer and seller, and you sign it.

Right?

Right, but then he takes the title. So I don't have anything as proof.
Guy came quickly and scooped it up for little less than I wanted. Paid cash, left the car until he can pick it up tomorrow. Today I'm depositing the cash, dropping off the plates...and hoping that's all I need to do.

[hockeysc23]

Right, but then he takes the title. So I don't have anything as proof.
Guy came quickly and scooped it up for little less than I wanted. Paid cash, left the car until he can pick it up tomorrow. Today I'm depositing the cash, dropping off the plates...and hoping that's all I need to do.

Can you make a xerox or scan of the title? I'd get something as proof.

[btfoom]

From the MD DMV Web-site (http://www.mva.maryland.gov/Vehicle-...usedvehicles):

Titling Information
Title Used Vehicles
To title and register your newly purchased used vehicle, you will need to submit the following documents (along with payment for taxes and fees):

• Proof of ownership - You must submit the vehicle's current title that has been properly assigned to you. Note that if the title was issued in Maryland, it can be used as your application form for titling and registering the vehicle. A registration document and bill of sale may be submitted as proof of ownership ONLY if the vehicle is from a state that does not issue a title as proof of ownership.
• Application form - If the vehicle's current title was issued in Maryland, use it as your application form by completing the section entitled Application for Title and Registration. If not, use the Application for Certificate of Title (form #VR-005). Be sure to include your insurance information. Your policy must conform to Maryland's minimum liability insurance requirements.
• Proof of purchase price - This should be a bill of sale signed by both the buyer(s) and seller(s). The bill of sale must be notarized if the following conditions apply:
  • the vehicle is less than 7 years old; and
  • the purchase price is at least $500 below the book value; and
  • the new owner (buyer) wants to base the excise tax calculation (6% of the vehicle's value) on the sale price rather than the book value.
• Odometer disclosure statement - If the vehicle has a Maryland title or an out-of-state title, the odometer reading can be recorded and attested to in the section entitled Assignment of Ownership. You also can submit the MVA's Odometer Disclosure Statement (form #VR-197).
• Maryland Safety Inspection Certificate - The Maryland State Police form certifies that your vehicle meets Maryland safety standards. It is valid for up to 90 days from the date issued.

Under certain circumstances, additional information and/or forms may be required:

• Lien information - If you borrowed money to buy the vehicle, the lien information may need to be recorded on the application. The MVA form entitled Security Interest Filing (form #VR-217) must be used if a second lien is placed against the title.
• Lien release - If the existing title indicates that a lien was placed against it, you must submit a lien release. For a vehicle that was titled in Maryland, this could be a properly completed and signed Maryland Security Interest Filing (SIF) or a signed letter from the lien holder specifically identifying the vehicle and stating that the lien has been released. If the vehicle is currently titled in another state, you may submit a signed letter of release from the lien holder or you may have the lien holder sign the title indicating that the lien has been released.
• Power of attorney - If someone other than you, the new owner, is signing the titling forms, this document is required.

Your title will be mailed to you regardless of how you apply for it. If you also register the vehicle, your registration card, license plates and expiration stickers can be provided immediately when you apply in person to the MVA; otherwise, these items also will be mailed to you.
Maryland Excise Titling Tax


...


Private Sale
A vehicle purchased from a private party sale is assessed 6% of the purchase price verified by a notarized MVA Bill of Sale (form #VR-181), signed by both the buyer(s) and the seller(s) in which the actual price paid for the vehicle is stated or, in other cases, the total purchase price or the valuation shown in a national publication of used car values adopted for use by the Administration will be used to establish the tax. There is an addition or subtraction for high or low mileage. Vehicles seven years old and older, the tax is based on the greater of the purchase price or the minimum book value of $640. Note: The MVA may require you to submit additional documentation to substantiate the purchase price. Trailers 7 years and older will be assessed 6% excise tax on the greater of the purchase price or the minimum value of $320.

[polywog999]

As someone who has bought and sold many cars in the state of Maryland, I have learned to never turn over the keys, unless the car is fully registered to the new owner. 6 out of 10 times the new "owner" lets the damn thing get towed for not having tags and you are responsible for the abandoned vehicle fee! (and you had better hope there ain't no drugs or guns in the car!)

It does not make any difference whether or not you have a bill of sale. You want them to apply for AND receive title BEFORE you hand over the keys/allow car to be towed away.

I'm looking over the process listed on the DMV sight and it looks like we don't need to do a bill of sale because its a 10 year old car that will sell right around the NADA price. If we follow the instructions, the end result would be that the buyer will walk away with title and car but no plates. I will walk away with a cashiers check, and the plates, but no other proof that a sale took place.

Until he registers the car, am I on the hook if he does something stupid?

Unfortunately, YES you are.

[skinfan2k]

help guys we are selling a car tmrw, so as i was reading this thread, it seems as though just signing the back is not enough for the title.