Ready but...?$20,000 Dealers Bond in OR - Posted by Cindy-OR

Posted by Cindy-OR on March 03, 2001 at 01:05:42:

Guess I kinda panicked about the Bond. You’re right, it’s not all that expensive. My first ad appeared in the paper today. If I can do a quick deal, I am going to reward myself with a trip to Atlanta in 4 weeks.

Thanks for the lead and for your help.

Ready but…?$20,000 Dealers Bond in OR - Posted by Cindy-OR

Posted by Cindy-OR on February 27, 2001 at 13:43:46:

Help! Anyone in Oregon doing these Lonnie Deals?

Just Called the DMV and Dealers Business Licensing Dept. Yikes, they said I need a Dealers License before doing the 1st!! deal with a $20,000 Bond and a Supplimental License for each location at $80 a pop, in addition to the $327 license fee.

On this board I heard you get to do 5 in Washington before “Dealing” in wheeling.

What to do, I have one seller calling me every day, with a sweet 1965 super clean, real hardwood interior, single wide with a tip out, saying she wants me to make an offer. I would love too!

Re: Ready but…?$20,000 Dealers Bond in OR - Posted by Joe C.

Posted by Joe C. on February 27, 2001 at 20:17:16:

This should be no big deal. I have to provide a $10,000 bond for another type of license I have in Arkansas. It costs me $50 per year. Check with an independant insurance agent. They can usually point you in the right direction, if not sell it to you. Mine was through a small Bonding Company that’s just been bought out by Traveler’s Insurance. So Traveler’s is a lead for you. You will have to provide a financial statement, at least I did. I hope this helps. Ask the licensing board who bonds most of the existing dealers in your area. They will probably tell you.
Joe C.