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Private sales


jeterlancer

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For private sales you must do a bill of sale that also lists make, model,caliber and serial number of the firearm being sold.

 

I also put the buyer and seller's contact information on the bill of sale. Whether buying or selling I want a copy of the bill of sale for my records.

 

Personally I document on the bill of sale when the agreement was made and when the transfer took place to verify that the 24 or 72 hour waiting period had been met.

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For private sales you must do a bill of sale that also lists make, model,caliber and serial number of the firearm being sold.

I also put the buyer and seller's contact information on the bill of sale. Whether buying or selling I want a copy of the bill of sale for my records.

Personally I document on the bill of sale when the agreement was made and when the transfer took place to verify that the 24 or 72 hour waiting period had been met.

Curious about "bill of sale." Unaware of any state or federal requirement that mandates form of record keeping.

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State requirement is that you keep a record of who you sold the firearm to for ten (10) years after the sale.

The requirement is for name and FOID card # as well as date of sale.

 

Most people use the form that's available from the ISP website or create one for themselves. I have records that are just scribbled on a scrap of paper from earlier days and now currently use either the ISP form or one I created.

When conducting a private sale it's a good idea to match their DL to their FOID. Good to ensure matching addresses and personal information.

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State requirement is that you keep a record of who you sold the firearm to for ten (10) years after the sale.

The requirement is for name and FOID card # as well as date of sale.

 

Most people use the form that's available from the ISP website or create one for themselves. I have records that are just scribbled on a scrap of paper from earlier days and now currently use either the ISP form or one I created.

When conducting a private sale it's a good idea to match their DL to their FOID. Good to ensure matching addresses and personal information.

What if DL and foid do not match? My foid does not match my drivers license. When I moved ISP had not yet change the rules and I updated my info on line but did not pay for new card. I understand each buyer and seller free to exceed state and federal statutory requirements but It can get frustrating when good ideas and/or opinions are construed as requirements.

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State requirement is that you keep a record of who you sold the firearm to for ten (10) years after the sale.

The requirement is for name and FOID card # as well as date of sale.

 

Most people use the form that's available from the ISP website or create one for themselves. I have records that are just scribbled on a scrap of paper from earlier days and now currently use either the ISP form or one I created.

When conducting a private sale it's a good idea to match their DL to their FOID. Good to ensure matching addresses and personal information.

What if DL and foid do not match? My foid does not match my drivers license. When I moved ISP had not yet change the rules and I updated my info on line but did not pay for new card. I understand each buyer and seller free to exceed state and federal statutory requirements but It can get frustrating when good ideas and/or opinions are construed as requirements.

 

 

Never said it was a requirement, only that it's a good idea.

State law requires you to notify the state of any change of address for both your DL and your FOID. I want to say it's 60 days but I'm not sure.

My concern is that if you only go by the FOID you might be scammed by a person who found or stole the FOID. Go to any gun range and ask them how many FOID cards they have laying around that visitors have left behind. There's usually more than a few. While having both a matching DL and FOID does not mean the person didn't steal the IDs (they could have found or stolen an entire wallet) it does reduce the risk somewhat. All you need is one with a photo that's a reasonably close resemblance. Nobody really looks closely at the picture, just the expiration date.

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That depends on the retailer. Most dealers want at least some money up front (my experience) and the big box stores want it all. For them the waiting period begins after you make the final payment.

When Walmart was clearancing out all things AR-ish in like August/September 2015, they didn't want any of my money up front.

 

In fact, it worked out better for me in one case.

 

Unknown to me at the time was that Walmart's policy was to give you 30 days to come in and pay for your gun once they had proof or confirmation that they notified you that you passed the ISP background check.

 

So I bought one Colt 6920 at one Walmart for $750. I always get delayed by the ISP check.

 

Then I went to another Walmart to look at another 6920. It was also priced at $750. I filled out the paperwork and again was delayed.

 

In the interim, I cleared the first background check and picked up that 6920.

 

Then with my work schedule and Walmart's policy to have two managers present to handle the actual transaction/transfer, I wasn't able to actually buy the gun for like 3 weeks. During that time that the gun was in limbo, Walmart knocked another $100 off the price. So I got the second 6920 for $650, plus because of their manager scheduling policy they gave me a $50 gift card on top of that. :-)

 

I had gone to a third Walmart where they had one Colt 6940 for sale and two Magpul 6920's also on clearance. Had I known about Walmart's 30 days from the approval notification policy, I would have put those other 3 into limbo. Then I would have picked them up on the 29th day...hoping their prices got dropped even lower.

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Thanks guys! Seems pretty straight forward.

 

For sales from FFLs, do you do 4473/NICS, pay, then come back after waiting period to pick up the firearm? Or do you pay when you come to pick it up?

 

Sorry for the noob questions. I've never bought a firearm in a state with waiting periods.

Whatever the FFL wants to do. You can do it right away or when you pick it up. Legally the waiting period begins when an agreement to purchase is made. No transaction or forms filled out is required. This applies to private sales as well. I can call up my FFL and ask for such and such firearm to be ordered and then go in 24 or 72 hours later, pay up and fill out the 4473.

 

The ISP FOID check for private sales carries no penalty if not done btw.

 

I had my AR15 shipped to the same FFL. Walked out with it when it arrived a couple days later since the waiting period began upon placing my order online.

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For private sales you must do a bill of sale that also lists make, model,caliber and serial number of the firearm being sold.

I also put the buyer and seller's contact information on the bill of sale. Whether buying or selling I want a copy of the bill of sale for my records.

Personally I document on the bill of sale when the agreement was made and when the transfer took place to verify that the 24 or 72 hour waiting period had been met.

Curious about "bill of sale." Unaware of any state or federal requirement that mandates form of record keeping.

 

There is no legal requirement for a "bill of sale". The state wants you to keep a record of your sales for 10 years. The bill sale as described by THE KING is THE perfect way of record keeping. If something happens i.e the gun is used in an illegal manner and the police come to you looking for it you have a written proof that you sold the gun to someone else.

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No you don't need a "bill of sale" -- After you run their FOID number thru the ISP web site and get the approval number, the site gives you a pre-completed transfer form, so print that out, complete it, and that's the document you keep for 10 years.

"a pre-completed transfer form " could be considered a bill of sale.

Yes, exactly. My point was that to whatever extent you need or want a bill of sale, the ISP creates a personalized one for you, so there's no need to go googling "bill of sale firearm" or whatever.
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Does the ISP Computer also store a copy in memory? Sort of like an, "Unofficial Registration" ...

 

Nothing ever really disappears from the internet.

Not true at all.

 

Liberals comments threatening to move to Canada if Trump won have disappeared now that they'd have to make good on it.

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IMHO, I would run the numbers on the gun (as a buyer), but if the gun comes back as a hit, the cops are going to want that gun. The seller can leave, but the gun needs to wait for the cops to come and get it.

 

Run the numbers how?

(That's a rhetorical question.)

Also as a seller your not REQUIRED to give the buyer anything (other then the gun), nor is the buyer required to do anything but provide his FOID.

I'm not saying a bill of sale isn't a good thing but they are not required.

As a seller keeping his record of sale for 10 years is all he has to do legally.

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