Selling car by owner, then buying a car by owner
hello, i have always traded in my cars, so selling on my own for the first time and I want to make sure that I do it correctly and that I handle the tags, title and registration correctly.
On Sunday, I found a 2000 V8 Toyota Tundra Extra Cab truck w/84000 miles that i want to purchase BY OWNER from my neighbor. We agreed on $8500 as the price (according to Edmunds that is a good deal). I told him that I need to sell my car first, so Monday, I put my 1998 Honda Odyssey on Craigslist.org for $4700 (after checking Edmunds.com appraisals & TMV for pricing help) and that same day I took a deposit and I got my asking price and the buyers are coming to pick it up with cash on Saturday. I have the title and all the service records, books, keys, etc.
Now how do I do this? do I type up a sales contract or agreement? what should it say. The vehicle is beyond warranty @ 132,000 miles.
I want to say all sales final.
Does the buyer have to have insurance BEFORE they pick it up?
Do they have to take my license plate? I just got my 2007 tabs in January. I plan on placing the plate on the new truck.
Do i give the buyer a receipt for the payment (we agreed cash)?
how do I fill out the title information on the Title or do I have to do that at the county offices in front of somebody?
I also need to know how to buy the truck from my neighbor correctly, so this should help my buyer and also me as a buyer. I previously bought his house, now I am buying his truck!
I live in Florida, hope that helps. thanks for any help you can give me for buying and selling by owner