Quote:
Originally Posted by 323d
One thing i suggest when you sell privately, make a document where the you, the owner, and the buyer will have to write down the final agreement on price, the number of hours to back out on the sale, and the condition of the car.. Oh, and get the buyer to put at least a 10% deposit on the car !
mine is something like this....
On (date) (time), the (owner's name) and (the buyers name) has agreed on the price of (total car price) for the (vehicle year, model, series) .. The buyer must place an (deposit amount *best to use cash) within the next 24 hours in order to purchase this vehicle. Both the owner and buyer have agreed on the condition of the car and history report (usual i write down anything that is wrong with the car that the buyer has accepted ... eg. scratch on bumper).
(buyer signature, driver license number, and contact number) (owners name and number)
This way, it will allow you to have a smooth transaction, and all less chance of teh buyer backing out last minute.
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Have you actually done this? If I was a buyer, I would never give a seller a deposit and I don't think there are a lot of people out there that would be willing to do this either.
My recommendation is once you accept an offer from a buyer, have the person meet you at an ICBC broker with a certified cheque and complete the transfer of ownership there.
Here's a link to the section of ICBC's website with tips on selling your car:
http://www.icbc.com/buy_car/