Storage Auctions
The Storage Locker => New to Storage Auctions? => Topic started by: dave41097 on October 16, 2014, 02:46:17 AM
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I saw an online auction that included a motorcycle. I was just wondering how you go about getting a title without the consent or cooperation of the previous owner.
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You get a receipt for the sale of the auction which should list the motorcycle. With that receipt you should be able to title it. If not, you part it out and probably make more than if you sold it as a whole.
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I saw an online auction that included a motorcycle. I was just wondering how you go about getting a title without the consent or cooperation of the previous owner.
Depending on your state's lien laws, the facility should give you a lien sale affidavit with supporting documentation proving that they followed proper notification procedures. Just take that to your local registration office and pay the TT&L. Here in Texas, if you purchase a vehicle at an auction, you only have to pay taxes on the amount you paid for the vehicle, not the standard presumptive value.
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if you purchase a vehicle at an auction, you only have to pay taxes on the amount you paid for the vehicle, not the standard presumptive value.
This brings up a good question. If you buy a vehicle at a storage auction and are charged sales tax on the auction sale, does that sales tax paid go towards the vehicle sales tax amount when it get registered?
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I saw an online auction that included a motorcycle. I was just wondering how you go about getting a title without the consent or cooperation of the previous owner.
From the home page this question looks totally different
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Yes I saw that it gets cut off. From the main page it reads, "How do you get a tit..."
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This brings up a good question. If you buy a vehicle at a storage auction and are charged sales tax on the auction sale, does that sales tax paid go towards the vehicle sales tax amount when it get registered?
No. That happened to me with the Camaro I bought last year. The unit was full of merchandise and the Camaro was buried underneath. Technically, they should have sold the vehicle and the unit separately to avoid tax issues. I ended up paying taxes on the entire unit and taxes on the vehicle.
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Just bought a locker two weeks ago and got a Dodge van, a Chevy Cavalier, and a small enclosed cargo trailer, along with lots of other stuff. Got paperwork for all three, transferred no problem.
Got a motorcycle a while back, got paperwork with it too, no problem. Side note to that one...I had some of the stuff for sale at the swap meet that came out of the same locker. Kid says "hey, that looks like my moms Christmas stuff......he brought me the key and some other stuff for the motorcycle, and I gave him all his moms Christmas stuff...worked out great!
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Titles are complicated from my end. Anytime I find a good deal on a car and see "No title or papers" I immediately forget about it. A lot of times, these vehicles are stolen. Just be cautious and make sure you have proof of where it came from.
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That's actually a rather interesting topic. Don't you have to win the auction first? In the first place, if the owner is auctioning on a public platform, he should not have control of who bids. Once you win, it's pretty much paperwork from there!
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if the owner is auctioning on a public platform, he should not have control of who bids. Once you win, it's pretty much paperwork from there!
What if the online auction site you're using has a feedback system, and the highest bidder has horrible feedback? eg. multiple reviews "Buyer is a no show," or "Left trash in the unit" or "Buyer never paid." or "Took to long to clean out the unit."......You get the picture.
Now, with OSA, the seller can review the feedback of anyone who bids. Let's say the runner up bidder's feedback is excellent. Wouldn't it make sense, in a situation like this, to cancel the highest bid and allow runner up to purchase the unit? After all, there's only a $10 difference between the bids of the winner and the runner up. If I were a storage operator, I'd be more than willing to recover $10 less, if it ensured a professional transaction. Just my two cents.
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You could sell as a parts bike iwth no title or if you don't mind doing the legwork a bike often goes for 3x or 4x as much with a clean title. Most states list online on the dmv site how to go about doing it. The storage unit receipt will be your bill of sale. There may be like a month waiting period however due to the circumstances. I recently had to get a replacement title for my own bike and got it quickly but I recall reading something about how there's a waiting period if you don't have any registration papers or anything from the past in your name