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Posted: 3/1/2006 7:02:22 PM EDT
I recently listed my car for sale and have a potential buyer lined up but my problem is that last week I had to transfer my title back to minnesota to be covered under my parents insurance policy. So my problem is that the title is in limbo and I need to make the sale while it is. Is there a way to still make the sale and use a bill of sale or something similar to give him until I get the title back?
Link Posted: 3/1/2006 7:05:52 PM EDT
if you don't have the title in hand, you shouldn't be selling the car
Link Posted: 3/1/2006 7:07:16 PM EDT

Originally Posted By NoVaGator:
if you don't have the title in hand, you shouldn't be selling the car



+1

you NEED to have the title on hand to sell the car. ownership of the car is posession of the title, not the car
Link Posted: 3/1/2006 7:18:14 PM EDT
Well basically the buyer is willing to pay half now and the other half after the car title is in hand all while I keep and drive the car. I really feel bad about doing this since I will be putting wear and tear on after the deal has been made. Is there any way to call in and transfer it by phone or something?

Any idea how long it takes to get the title back?
Link Posted: 3/2/2006 4:31:11 AM EDT
bump anybody know?
Link Posted: 3/2/2006 5:41:53 AM EDT

Originally Posted By stretch415:
Well basically the buyer is willing to pay half now and the other half after the car title is in hand all while I keep and drive the car. I really feel bad about doing this since I will be putting wear and tear on after the deal has been made. Is there any way to call in and transfer it by phone or something?

Any idea how long it takes to get the title back?



It depends on the state, unfortunately. (I hate "it depends" answers, but that's it in this case). I have had titles back in 10 days. YMMV.

I would suggest you contact DMV (or whatever it's calles in MN) and explain the problem. Possibly you can go into an office and pick it up. I find it best to be in the office, as they can print it right there. I realize it's a distance, but that's about it.

If you have to wait, you'll need a good bill of sale and, no, he can't register it. You will have to understand that nay exceptional wear o0r accident will have to void the deal or require a substantial reduction in the selling price as compensation. SOrry to repeat bad news, but you shouldn't sell anything unless you have the title in hand.
Link Posted: 3/2/2006 6:07:32 AM EDT

Originally Posted By stretch415:
I really feel bad about doing this since I will be putting wear and tear on after the deal has been made.



Then if you are going to feel that bad about driving it after a deal is made, then park it.
Link Posted: 3/2/2006 8:28:36 AM EDT

Originally Posted By klutz347:

Originally Posted By stretch415:
I really feel bad about doing this since I will be putting wear and tear on after the deal has been made.



Then if you are going to feel that bad about driving it after a deal is made, then park it.



Ya that way my other option. I need to take a loan out to pay for my new ride initially so do I just go back once Ive been paid and refinance the loan? That would lower my payments correct?

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