How to Make a Bill of Sale?
A bill of sale is a piece of document that records your purchase of an item such as a used car, auto, boat, motorcycle, equipment, trailer, and other motor vehicles. This is also proof of your legal ownership of the item you bought. It includes the amount of sales tax you pay as well. The website, CNBC, said that the Sales of vehicles in the USA in 2019 is 17 million. It might come off as a hassle, but a bill of sale is very much needed when you buy a car or any other item. It's a record that you can refer to in case of a legal dispute. Moreover, the bill of sale contains information about the item you bought.
Read these tips below on how to make a bill of sale.
1. Gather Info
Before making your printable document, gather all Information regarding the item and the buyer as well. Verify these to avoid mishaps as you start designing your document. You should have every bit of information, so you won't waste your time.
2. Make a Clean Layout
You need to make a layout for your document after gathering all the info you need. Keep it clean and organized even if it's your first layout. Leave spaces for signatures as well.
3. Fill Out Details
Use your information to fill in the details of the Document. Make sure that every information you put is accurate.
4. Have a Run Through
Check the whole document to see if you missed anything. It includes checking the spelling and the numbers that you asked from the customer. If you think there's nothing to change, you can finalize the document by putting the company Logo.
What does a bill of sale contain?
The bill of sale contains the following:
1. Buyer and seller's personal information
2. The item sold
3. Description of the item
4. Date and location of transaction
5. Amount of the item the buyer paid to the seller
6. Method of payment
7. Agreement on pending payment
8. Previous owner of the item
Why is a bill of sale important?
According to the website, Legal Nature, a bill of sale is important for the following reasons:
1. Transfer ownership of a property
2. Legal contract between buyer and seller
3. Guarantee the condition, authenticity, and history of the item being sold
4. Necessary tool when documenting transfer of ownership
5. Can be customized according to the needs of the seller or buyer, if there are warranties involved.
Is a bill of sale available in PDF?
A bill of sale can be uploaded in a PDF file. If it's a fillable one, you can just easily fill out all the blank spaces that ask for details about the transaction. If it's not, you can just print the document.
What should you check in a bill of sale?
Check if the whole document is legible. You must also double check all the information and signature of the bill of sale as well.
How do you write the amount of payment in the bill of sale?
Write the amount of payment in words and numerical symbols in the bill of sale.