A bill of sale is a document, which is considered very important, when selling goods or items like a car, as it proves to be useful in safeguarding both the buyers and sellers from any potential future problems. Bill of sale is used for various transactions such as sale of automobiles, property, jewelry, furniture, tools, collectibles, valuable books, art, appliances, sports equipment, photographic equipment and many other things. Here we specify how to write a bill of sale template, which will be helpful in your business deals.
You can look for a suitable bill of sale template, by browsing the internet, or by searching the word processing program or by designing your own template, according to the requirement under consideration, during the time of sale or prior to it.
Earlier, people used to conduct business transactions by merely using word of mouth and handshakes. In these days, due to involvement of legalities in most of the transactions, bill of sale agreements are highly required. A bill of sale indicates the “transfer of ownership of items” of different kinds, from one party to the other and should specify the sale items and related terms clearly.
Details to be provided in a Bill of Sale
The important information which needs to be present in a bill of sale includes:
- Names of the buyer and seller.
- Complete description of the item of sale.
- Full price of the sale item.
- Warranties, extra items or any accessories included or excluded.
- Specific details regarding customized sale.
- Address and contact details of the seller.
- Date of transaction.
- Signatures of both buyer and seller.
- Digital signatures may also be used.
Buyers should receive the original bill of sale and the sellers should retain its copy. In certain cases, when the item of sale under consideration is more valuable, you may choose to get the transaction notarized.
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