Is open deed of sale when purchasing second hand car safe?

melissaeguantero

melissaeguantero

Arresto Menor

Posts : 1
Join date : 10/08/2009

I am planning to buy a second hand car but most of the units advertised are sold by "buy and sell" businessmen. They use the open deed of sale to facilitate transfer of CR to the buyer of the car. According to them, this is being practiced by people in te buy and sell business to avoid incuring additional cost to them for the transfer of the CR to their names. I have reservations to this arrangment. What documents should I ask from the seller to help support the open deed of sale? .

attybutterbean

attybutterbean

moderator

Posts : 116
Join date : 15/06/2009
Age : 45
Location : Rizal

An open Deed of Sale is frequently being practiced by those engaged in buy and sell to save cost.

Here are the documents that you will need in order to register the vehicle in your name:

(1) Original notarized Deed of Sale;
(2) Original CR;
(3) Original OR (latest);
(4) TMG Clearance;
(5) Photocopy of valid ID of the seller;
(6) TIN of seller;

So before paying for the car, it would be prudent for you to secure the above documents. The TMG clearance will certify that the vehicle is not stolen.

Is open deed of sale when purchasing second hand car safe?

1 Is open deed of sale when purchasing second hand car safe? Mon Aug 10, 2009 3:46 pm

melissaeguantero

2 Re: Is open deed of sale when purchasing second hand car safe? Tue Aug 11, 2009 2:49 pm

attybutterbean