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HELP !!! PLEASE !!!

HELP !!! PLEASE !!!

Hello all ... I am going to be selling my old car soon and this is the FIRST TIME I have done this ! I need to know what kind of legal documentation do I need to complete the transaction with the new buyer ?

I was told I need a

1)letter of delivery (What is this ? and what are it's contents ?)

2)Stamp Paper (Where can I get this from and what are it's contents what should be written on this ... the new buyer's name ? etc etc ...)

3)A Bayana letter so the buyer can book the car from me I have an idea about the contents of this letter if you could give me more details I would appreciate it.

4)What about my car's registeration documentation do I need to give this documentation to the new buyer ? Then does he take responsibility for registeration for the car in his name himself or do I have to get involved here ?

If any other legal documentations I have left out please tell me about them this is the first time I am selling a car and I do not want to screw up !

Thanks.
Gari.pk User 4394 asked on 15 Jul 2010 14:22:05 pm
1 Answer
246 views |
Huzaifa - on 15 Jul 2010 14:22:22 pm
Ok.

You need a transfer letter. Available at Civic centre, Karachi.

The transfer letter ensures that the car you own now comes in the ownership of the buyer once the payment is done.

Payment recipt ... for assurance that you have been paid the amount by cash/cheque and have signatures and ID copies of both parties.

Delivery letter. Its a letter which gives the time and date of delivery to the new owner. This assures that any problem in or related the car after the delivery is the sole responsibility of the new owner.

Bayana letter is something like the buyer pays you a bit of the amount so that if he backs out after assuring you he is buying your car ... you keep the money. This is to prevent the buyer to back out since you might get a better deal during the time he says he wil lbuy the car. And also you cant back out of the deal. Confirm this part by someone else as the last car I sold I didnt take bayana because the person was an co-worker at dads office.

All original ownership papers of the car and tax recipt is to be given to the new owner. Also the new owner might call CPLC to verify that your car is legal.
 

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