NEWB Title question

[gaewsky1]

I'm selling my bike on Ebay and the auction will end before I get the title in the mail. I have never sold a vehicle/bike before. My question is when I get the title all I have to do is list the mileage, price paid and then get it notarized. Right? I can then send it to the buyer? Is the buyer able to get a temp tag before they get the title? If not should I feel bad about it, or does that go with buying a vehicle?

 

Should I list the full price on the title or list something less to lower the buyers taxes that would need to be paid? What would you do?

 

Thanks in advance for any advice.

[88lx5oh]

all you need to do is, that pertains to you.. the seller.. get it notarized, and send it out to him or her.

 

and put the full price that was paid. no need to get an audit on yourself.

[99FLHRCI]

and put the full price that was paid. no need to get an audit on yourself.

 

+1

 

My girlfriend's step-father got a car in his name but, she made the payments on it. When it was payed off he signed it over to her. The sale price was listed on the title as $0 which it legitamly was. The next year she got a letter from the tax department saying she had to prove it. (last names being different didn't help) We got it all straightened out, or so we thought. One year later same problem. Again, go to Columbus IRS office and get it straightened out. Over the next year he got cancer and past away. Then we got another letter about the car. We went down to the tax office again with a copy of last year's paper work and a copy of the obituary. Luckily, we got the same tax agent and she remembered us so it sped it along. That was the last we heard about it. Three years hassle just for a questionable sale price.

 

Cliff Notes: ALWAYS list the real price sold for on a title.

[gaewsky1]

Thanks for the replies. You both probably saved me plenty of time downtown.

[TURBOED]

+1

 

My girlfriend's step-father got a car in his name but, she made the payments on it. When it was payed off he signed it over to her. The sale price was listed on the title as $0 which it legitamly was. The next year she got a letter from the tax department saying she had to prove it. (last names being different didn't help) We got it all straightened out, or so we thought. One year later same problem. Again, go to Columbus IRS office and get it straightened out. Over the next year he got cancer and past away. Then we got another letter about the car. We went down to the tax office again with a copy of last year's paper work and a copy of the obituary. Luckily, we got the same tax agent and she remembered us so it sped it along. That was the last we heard about it. Three years hassle just for a questionable sale price.

 

Cliff Notes: ALWAYS list the real price sold for on a title.

As far as I'm concerned, as long as I talk it over with the seller, and we are agreed on the price put on the title, then the IRS cannot do a thing about it. All they can do is ask both parties what the price was. If both parties say the price on the title, then case closed. You guys must have a big red asterisk next to your SS# in the IRS system or something to be questioned that hard, haha. The IRS can go F themselves if they think they can tell me what price I can or cannot sell/buy a car for.

[99FLHRCI]

As far as I'm concerned, as long as I talk it over with the seller, and we are agreed on the price put on the title, then the IRS cannot do a thing about it. All they can do is ask both parties what the price was. If both parties say the price on the title, then case closed. You guys must have a big red asterisk next to your SS# in the IRS system or something to be questioned that hard, haha. The IRS can go F themselves if they think they can tell me what price I can or cannot sell/buy a car for.

 

I think the biggest flag was the fact that he payed $9k for it and then signed it over to her 2 yrs later for $0.