KnightRider
11-06-08, 03:18 PM
I am about to go and view a motorbike (privetely owned) which I am interested in buying and was just wondering what the protocol usually is.
Obviously it is common practice to leave a deposit to get the seller to take it off the market and hold the bike for you, but I was just wondering whether you guys usually draw up some form of draft contract between yourselves and the seller to protect myself in case the guy deceides that he wants to run off with my cash! Is it standard practice to take the registration document and service book to help avoid this?
In addition when you complete the sale with the full amount of money (which I will transfer electronically) would you also get some sort of receipt from the seller that he had recieved the full amount when you go to pick up the bike? I would also expect to sign something to say that I have taken receipt of the bike.
Not really done this before so am looking for any advice that you may be able to offer.
Jon
PS - used to work at a law firm (not as a lawyer) hence the focus on contracts and getting every t crossed and i dotted!
Obviously it is common practice to leave a deposit to get the seller to take it off the market and hold the bike for you, but I was just wondering whether you guys usually draw up some form of draft contract between yourselves and the seller to protect myself in case the guy deceides that he wants to run off with my cash! Is it standard practice to take the registration document and service book to help avoid this?
In addition when you complete the sale with the full amount of money (which I will transfer electronically) would you also get some sort of receipt from the seller that he had recieved the full amount when you go to pick up the bike? I would also expect to sign something to say that I have taken receipt of the bike.
Not really done this before so am looking for any advice that you may be able to offer.
Jon
PS - used to work at a law firm (not as a lawyer) hence the focus on contracts and getting every t crossed and i dotted!