Yet another car selling question

2,930 Views | 24 Replies | Last: 4 yr ago by vansprinkle
CanyonAg77
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AG
In-laws moved into a retirement home in Newer Mexico. They've decided to sell their car. It's titled in their home state of Colorado, and both names are on the title. We are bringing it back to our house (near Amarillo) to sell. So, here's what I think we have to do:

Both of them sign the title
Both of them sign the Texas transfer form 130-U
????
Profit!

Right? Wrong?

On a side note, it's going to sell for around $13K. I'm wary of taking a check for the car, signing it over, mailing the check to them, waiting for them to deposit, and waiting to see if the check is good, while the buyer has a couple of weeks to get out of Dodge.

Any suggestions on a secure way of moving the money around?

TIA

And if anyone is interested, it's a 2014 CRV Honda with AWD and the four banger, Silver-grey in color, lower trim level. About 48,000 miles. Spent part of its life being flat towed behind a motorhome, still has the tow bar mount, but not the tow bar. (I don't know why they didn't keep the tow bar)
TMoney2007
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Put the money in your bank account and transfer it to theirs...
OnlyForNow
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Pictures? Brother moved back to Houston from NYC, this might be up his alley.
CanyonAg77
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Will try to get them up later. Recall that we are in the Amarillo area, so it might be too far out for him.
OnlyForNow
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Nah. If he wants to drive he'll figure it out.
CanyonAg77
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permabull
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CanyonAg77
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For those asking for pics, try the link below. The miles shown were in Benson, AZ, and we've since driven it to ABQ, NM. Driving it to Canyon, Texas later this week.

I haven't done a lot of description, but since folks seem interested, it's in good shape overall. They had a dog they carried everywhere, so might be some hair left. I'm having a brain fart as to whether its a 2013 or 2014. They've had it maintained by a Honda dealer.

The biggest flaw is a lot of pits in the front end from being towed.

I'll take some detailed pics of that later in the week.

https://www.flickr.com/gp/chs_girls_soccer/880g9Y
CanyonAg77
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hypeiv said:

I bought a car for $13k in cash before and it was not a big deal to pull that much money from a bank. I don't think it's unreasonabl
Except for getting reported to the feds.
ccolley68
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Did they consider older Mexico with their age? I heard they let them keep their cars there too.
John Francis Donaghy
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Have buyer bring cash. Meet at your bank and deposit the funds directly into your account, sign the car over, shake hands and walk out of the bank with the transaction done. Easiest way to do it, and you don't have to run around with $13,000 in cash on you.
CanyonAg77
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ccolley68 said:

Did they consider older Mexico with their age? I heard they let them keep their cars there too.
The place they are at has buses and town cars to take them everywhere. Pretty nice, actually. F-I-L played on the 1945 Oklahoma A&M team that won the Sugar Bowl. A few years ago, they declared that team a Mythical National Champion for 1945. He's the only known survivor.
DannyDuberstein
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The best option that doesn't involve anyone having to carry $13,000 in cash is to meet at the BUYER'S bank and be present while they draw the cashier's check. Just make sure they know you want to be present when it's actually drawn vs just meeting there.
txyaloo
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hypeiv said:

I bought a car for $13k in cash before and it was not a big deal to pull that much money from a bank. I don't think it's unreasonable to tell the buyer to bring 130x $100 bills.

Edit: you could have them meet you at your bank with the cash and do the deposit right there and they will verify the money is real. When I did my deal that is what we did and the branch manager even let us use her office to complete the paperwork a motorized our bill of sale as well.
I did the same with nearly that much cash. Did the transaction at the bank drive thru on a Saturday. I was very uncomfortable waving that much cash around while standing in the drive thru. I was carrying and had friends watching my back as well.

Worked out fine though
permabull
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CanyonAg77
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Speaking of carrying money...

I had a neighbor who was an Ag pilot (crop duster). In the late 70s, he crashed his plane. He bought another, but he rebuilt the crashed Piper Pawnee. He found a buyer in Mexico, and flew the plane to an airport on the border. He received a briefcase with $18,000 in cash (about $64k in today's dollars) and flew home on Southwest, carrying the briefcase.
EskimoJoe
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Last Christmas day, my 2 brother in laws and i loaded up in the truck and drove 6 or so hours and across state lines with $30k in hundred dollar bills to buy a trailer. We had to get the deal done before the first of the year and Christmas day was the only day that everyone's schedule worked out. we get to the town in central Nebraska and it is getting dark. the trailer checks out but we want to hook it up to the truck to make sure it airs up and the brakes release. It won't air up. So a troubleshooting we go. We are all carrying, and im doing a good job of keeping mine concealed as i go under and around the trailer following air lines. It turns out the leveling valve is stuck and we decide to bypass it to get the trailer home. Meanwhile, while we are working, my brother in law has forgot about his pistol and the handle of his pistol is hanging out of his coat pocket. The widow and her son we are buying the trailer from get somewhat alarmed. We reassure them that we are honest folk, and are only carrying because we are traveling with $30,000 in cash. we pray to God that we don't have to use our weapons to defend ourselves, and if they want to call local law enforcement to keep an eye on things, it is fine with us. Anyway, we get the air on the trailer straightened out, go in their house (its 9pm and completely dark now) count the cash, sign the title and bill of sale, shake hands, and head home.
CanyonAg77
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AG
Update, it's a 2013, tires are very good. Again, plan to do an ad on TexAgs and CL after we get home with more pics.
UnderoosAg
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Couldn't you ask for an official or cashier's check?
permabull
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DannyDuberstein
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Exactly. Can't trust a cashier's check unless you saw it drawn, but I also don't think it's reasonable for anyone to be asked to bring that much cash to a transaction. The cashier's check drawn together at the buyer's bank completely protects both parties in the transaction, at least in the funds exchange aspect.
CanyonAg77
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Here's a little info for anyone else with a car titled in another state, that you're selling in Texas:

Tax office will require a Texas inspection and proof of insurance to register. Fortunately the buyer ($13.000) was willing to hand me the check and go get the inspection done themselves.

Yes, I took a check. I trusted the buyer and have a photo of their Driver's License. Mock me if I get burned.
Schall 02
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Escrow.com
FunnyFarm14
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Why not do a cashiers (certified) check if you're worried about carrying cash? Same as cash- heck you could even request it to be at the same bank if you wanted.
TxAggieBand85
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Wire the money if paying cash. Offer to deduct the about $35 fee to wire.
vansprinkle
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I picked a guy up at an airport with $13k cash once when selling. Drove right to the bank, put it in my account and handed him the keys.

I picked up another guy at an airport one time, drove right to my bank, initiated a wire from his bank for $39k, waited 15 minutes for it to clear, then handed him the keys.
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