Think that you have made the decision to sell your dependable bike, and you’ve located someone who will buy it from you for the price you desire. You are thrilled with the sale and eager to receive the cash. But first, there’s something crucial you need to do: finish the required documentation. Then hand over the keys and take the money. Although it may seem laborious, completing the necessary paperwork when selling your bike is essential to safeguard both you and the buyer from any unforeseen legal or financial concerns. In this post, we’ll explore the reasons why documentation is necessary when you are about to sell big bike (ขายบิ๊กไบค์, term in Thai) as well as the forms that must be filled out in order to complete the sale.
Defending both yourself and the customer
To protect both you and the buyer, paperwork is a necessity when selling your bike. Make sure you’re not held accountable for any problems that develop after the sale when you transfer ownership of a vehicle. You are able to safeguard yourself against any financial or legal implications of the transaction by completing the required documentation.
Similar to this, the buyer must make sure they have the legal right to own the bike and that it is not stolen or encumbered in any way. Buyers can safeguard themselves from potential legal or financial problems by completing the necessary papers.
Get a bill of sale: You can get a bill of sale template from the department of motor vehicles (DMV) in your state or online. The date of the sale, the names and addresses of the buyer and the seller, the make, model, and year of the bike, as well as the transaction price, should all be listed on the bill of sale.
Transferring the Certificate of Title: When selling a bicycle, the seller must sign and provide the buyer with the certificate of title. In some cases, if the original title is lost or stolen, the seller might need to request a duplicate from the DMV.
Complete the Liability Release: Once the bike has been sold, the seller is shielded by a release of obligation from any legal or financial liability. The seller and the buyer should both fill out and sign this document.
Fill out the odometer disclosure form: An official document that attests to the accuracy of the bike’s odometer reading is called the odometer disclosure statement. Both the buyer and the seller must fill out and sign this form.
Any further essential documentation, such as the owner’s manual, warranty details, and maintenance logs, must be provided to the buyer by the seller. Therefore, it’s crucial to finish the required papers when selling your bike in order to protect both yourself and the buyer. A bill of sale, title certificate, liability release, odometer disclosure statement, and other pertinent papers are needed. You can assure a smooth and successful bike sale by taking the right actions and completing the necessary paperwork. Take advantage of a hassle-free service before selling your bike on a reliable platform. They are dependable and can speed-up the procedure.