THSCC Forums

I'm starting to get calls on my 2001 Forester and realized I don't know the best way to handle the transaction. Cashier's checks and money orders are being faked on a regular basis, checks can bounce, and no one carries around that much cash.

The only thing I can think of is to accept payment, give the buyer the vehicle, and then send the title when the check has cleared. Is that correct?

On the title, does the seller's signature have to be notarized or just the buyer's. The darn NC car title and website are devoid of instructions.

Thanks!

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"Build a man a fire and he'll stay warm for a day. Set a man on fire and he'll stay warm the rest of his life."
'93 Subaru Legacy DIRTBOMB
'98 BMW M3
2013 Rallyx Co-VP

Handle the transaction at the bank where the money is coming from.

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In need of car.

Now that seems way too obvious

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"Build a man a fire and he'll stay warm for a day. Set a man on fire and he'll stay warm the rest of his life."
'93 Subaru Legacy DIRTBOMB
'98 BMW M3
2013 Rallyx Co-VP

That is best, but I like cash.

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Rubbin' is Racin'

x2

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2001 Honda S2000 - SOLD
2012 Boss 302
2003 BMW 330i

i believe the transaction is supposed to be notarized. thus, both signatures. call your bank, and do the deal in the bank of the buyer if it's local.

when i sold my (%&*%)&_#$ the buyer wired cash to my account prior to picking up the vehicle. i handed him the keys and the signed title, had him sign a bill of sale and it was a done deal.

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BenchWarmer Motorsports

another one of those damn LeMons heads

just another Chump

we are an Autocross Club Dammit............

x3 - exactly how I bought the M3

Only the seller's signature needs to be notarized, but again, this can all be done right at the bank.

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Dustin Fredrickson
-- I'm a nobody --

I just went through some of these pains on my most recent purchase and sale. Just a few comments --

1. do the entire transaction at the buyer's bank if possible
2. If not, ask for cash
3. If not, then develop a relationship with the buyer. If you get to a mutually trusting situation, then you can take risks

When I bought the S2000 in Kentucky it was with a RBC Bank Check. I asked the bank teller about fraud with bank checks. She basically agreed that the bank check offered the seller no protection. She also recommended a wire transfer, which would have to be set up from my bank to his bank at the time of purchase. This would require me to be in NC to pull the trigger, which was not possible.

So effectively the banks do not have a solution for an out of state purchase, or for a purchase outside of bank hours. So demand a bank transaction with anyone you do not trust completely.

I just sold my M3 on a Sunday with only a personal check. A risk, yes, but I Google Stalked the seller and his story checks out completely. We would be friends if he lived nearby... If there was ANY question about his integrity I would not have done it. I also let him drive home with my plate and with my insurance active.

However I still have the title, so he is taking on more risk than me, since he trusts me too. As soon as the check clears I will fedex the signed and notarized title. Not optimal, but neither he nor I can take time off work this week, so we took on risk.

Regarding notarization -- from what I understand you NEED to follow the notary rules of the state to which the car is being transferred. In NC this means seller only as mentioned. If you sell to a state that does not require notary, you actually do not need to have the NC title notarized, although I would still recommend it!!!

Good luck!

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Mike Whitney
whit32@gmail.com, 919-454-5445
V10, V8, V8t, I6, I6, V6, F4t, I4, I4, I4, I4, I2, 1, 1

I used the local Carmax for the paperwork on a weekend or after bank hours.

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Dick Rasmussen

FS 50 2018 Mustang GT

x4

This is how I got my Miata. The seller was also a club member/buddy so we weren't worried about getting scammed but most banks provide a free notary service if you have an account there so that makes it the easiest place to get money/give money and get the title notarized.

A bonus was that we both had the same bank so they just wired it between accounts in the same transaction with our debt cards.

The guy who bought my wrx showed up with 5k cash. It was very nice to see. Lol.

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'11 RallyX VP
1998 Integra Type R - track fun
1999 Subaru 2.5RS - dirt fun