I'm soon to be selling an older bike of sub $2000 price. I've had some offers, and one in particular who wants to buy mentioned something about paying less tax by declaring a much lesser value to ICBC in the transfer/sales document. The potential purchaser says that as the seller, I have nothing to worry about with respect to liability or other legalities. Is this correct? I get the sneaking suspicion that this is not the case. Am I in any risk of having ICBC knock on my door sometime down the road? Opinions?
As well, other that cold hard cash, is a certified cheque the only other guaranteed method of payment?