Selling your authority and LLC is easy.

Honestly if you go down this road make sure you cover your time with asking price. It may be days

No I am telling others here. I sold motorcycles with it a while back.

 

I will add this. Your insurance agents need to be 100% in the loop ahead of time....buyer and seller. And even then they barely know how to do this and make it seamless. It seems as though none of them are used to it at all and are very confused on the ins and outs....or they just play dumb because they don't like it...I am not sure??

As a seller get paid up front but if you a good human being you had better plan on being around to receive phone calls from the seller and their insurance agent and be prepared to help well beyond the day you get your money.

 

I don't know. It is over but not over. So I am waiting. My part is over but they have not fully finished the process as far as getting the authority up and running and I want to see it all finished.

What state are you in?

 

Yes it takes 2 forms in Ohio (521 and 612) and the the FMCSA form on post #4 of this thread. The key is making sure the buyer and seller know their agents well because they will be involved.

A HUGE plus would be if your (the seller) agent is licensed in the buyers state. Then the buyer could just use your agent.

 

Again...word of warning to anyone doing this...you may have a lot to do for the buyer. Phone calls, hold time, really really helping everyone get it right...the buyer, the FMCSA, the buyers insurance agent. This stuff doesn't happen every day so you will be involved in the handing off of the business you created and maintained perfectly. You should want to have pride in knowing it is going to someone cool and knowing they are getting what they paid for.

If you are not the helpful see it through to the end type then just don't sell it. After doing this (still ongoing) it seems that as a seller you could just take the money and tell the seller to figure out everything but that would be disgusting IMO.

It is a process and you are dealing with the federal gov....but you already know that because you built this!

 

I listed mine here on TTR and then felt out the many inquiries and I decided on my buyer. I didn't take the first one or even the first 5 actually.