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.
If the buyer chooses to pay in cash, the amount must 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 specific items, especially regarding cars.Ĭomplete the bill of sale fully and accurately describe the transferred or sold item. The seller typically provides the document, but you may wish to bring your form if you’re the buyer. Microsoft Word (.docx) 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 a vehicle or any other item.
In some states, you may need to add an odometer disclosure statement or a separate form on the bill of sale.
Depending on your state, you may also need to file an Affidavit of Motor Vehicle Gift Transfer or similar document.įor a vehicle purchase, buyers should keep an original copy of the document for registration. If the asset is transferred as a gift, this can be recorded on the bill of sale, and the purchase price can be set to $0. Not all states or counties require a bill of sale, but it is generally recommended to sign one to add an extra layer of protection in case of future disputes. Once signed, both the buyer and the seller should keep a copy of the bill of sale to prove that the transaction occurred. A bill of sale is a document that details a sales transaction or transfer of ownership between two parties.
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