Overseas sales

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Twodko

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Good morning Posse,

I'm in negotiations with a buyer in Germany to
sell a car I have on the market.
I know this is done frequently but how
do such transactions go?
The buyer says he will wire transfer payment.
Obviously I wouldn't release title to my car
without verifying payment but what safeguards
are there to be sure payment isn't recinded
after I sign off the title?

Tom
 
From Europe there's no way a buyer can cancel the wire-transfer after the money has been transferred.
The trust and worry is on the buyer-side in these cases.

If you want to play it extra safe just open a new temp account where the money can be send to. Then transfer it to your main account, or cash it at the bank and close the account again.
 
done it many times, just have the guy transfer the funds to your bank account then simply move the new funds to different account or take it out and ship the car its really that simple. The shipper takes all legal paperwork with shipment and that's that! Good luck
 
One more question concerning the sale of my car to
an overseas buyer.
Is it common to provide the buyer with the title
to the car that I haven't signed releasing ownership?
The buyer tells me this is how the title must
come with the car.
Could it be a customs requirement on his end?

Tom
 
If you go talk to your bank they can make all the arrangements and hold the title until the money has reached the bank then they release the title.

Treblig
 
IMO i would never let the car go with-out it being transferred into the buyers name. Usually that means that when that person sells the car (usually a flipper) it will be going from you to the next buyer skipping them and all their legal or financial obligations. If something happens during transport or while in the buyers possession in another country you are still legally the owner and will be responsible for all damages including any that occur during transportation. Remember to read those transport/shipping agreement fine terms as well before signing off many of them will hold you responsible for any damages that occur during THEIR transporting.


One more question concerning the sale of my car to
an overseas buyer.
Is it common to provide the buyer with the title
to the car that I haven't signed releasing ownership?
The buyer tells me this is how the title must
come with the car.
Could it be a customs requirement on his end?

Tom
 
Thanks gentlemen. The buyer will have his
shipper come to take possession of the car
along with a contract that I sign stating such things as
I am the legal owner, the title VIN number
matches the VIN plate on the car and that
the car is as I have described.
I will most certainly closely read all paperwork the
shipper brings to me.
I also fully intend to sign off on the title releasing
my ownership of the car as well as sending in
the "release of liability" form included with the title.

Tom
 
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