If a buyer is an out-of-state resident or intends to register the asset in another state, the following steps must be completed at the time of removal:
- Collect the $200 Doc Admin Fee and the Excise fee (if an excise fee appears in the vehicle fee list for the asset). Remaining fees are paid by the buyer to the state of registration.
- Make a copy of the buyer's drivers license (front & back required).
- On the FILE (your) copy of the invoice, have the buyer write, "I (buyer) took possession of the title for this asset as I will be registering it in the following state: __________________." Have the buyer sign and date below this notation.
- Give the buyer a copy of the invoice marked paid, the title, and lien cards if applicable.
Within 8 days of the auction close, remit the following items to K-BID:
- $200 Doc Admin fee and Excise Fee, if applicable (submit as a separate payment via Billandpay.com/go/kbid - you will not be invoiced)
- Copy of the buyer's driver's license
- Original buyer signed/dated invoice (keep a copy for your records)
- Completed out of state buyer checklist (attached below)
Comments
0 comments
Article is closed for comments.