Once the terms of the sale have been agreed upon, the buyer and seller should complete the bill of sale form.
Step 2 – Fill Out the Bill of Sale With the Required Information If the document does not have a warranty, the item is sold “as-is.” Therefore, the buyer must check the item thoroughly and ask any questions before the sale is completed and the form is signed. When a bill of sale includes a warranty, it must clearly explain what damage and repairs the guarantee covers and for how long. Financing is commonly handled separately through a bank.
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If the buyer chooses to pay in cash, the amount needs to be paid in full at the time of the sale. Step 1 – Negotiate the Terms of the Saleīefore filling out a bill of sale, the buyer and seller should confirm the item’s condition and agree to its sale.Īt this stage, both parties agree on a payment method and any special conditions of the sale, such as a warranty or financing. If the seller withholds any information about the item, the form may be null and void (not legally valid).īoth parties should keep a copy of the signed document for their records. Remember to check individual state requirements before creating your form, as some states have different requirements for certain items.Ĭomplete the bill of sale in full and accurately describe the item being transferred or sold. The seller typically provides the document but you may wish to bring your own form just in case you’re the buyer.
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How to Write a Bill of Sale Formīuyers and sellers can follow the simple steps below to fill out their blank bill of sale form and record the transfer or sale of an item.
Therefore, the seller may still be responsible for violations the purchaser commits after the item is transferred (such as speeding tickets in the case of a vehicle). Bills of sale are essential to prove a cash sale took place, and they protect both the buyer and seller in the event of a dispute.įor example, you cannot legally prove that an item was sold without a bill of sale to record the transaction. If you don’t use a bill of sale, you could encounter legal issues after selling an item.
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