A Bill of Sale (BOS) is a document that marks the transfer of a personal property, such as a car, boat, horse etc. This kind of paper can be very useful when you plan to sell your vehicle and keep you protected as well as prevent any misunderstanding with the buyer. It can be useful to have such a document even in case it is not mandatory to have one in your state. Find out how to write a bill of sale form.
Include the Vehicle details
You have to list all the identifying details regarding the vehicle, including its color, model and make. The year of manufacturing of the vehicle must be written as well. Make sure that there are no errors in this section. Even the smallest of mistakes in this section might make you liable, and you could be facing legal problems in case there is a legal problem involving the vehicle later on and the buyer drags you to the court for the same reason.
Include the VIN
The VIN is the vehicle identification number – which serves as the unique identifier for your car. It is like the fingerprint for your car, making it distinct from all other cars. Every car has a unique VIN number, and it can be used to access all the information that exists about the vehicle – such as how many times it was repaired, whether it was stolen, whether there had been any major damages, whether it was painted at some point of time and so on.
Write about the Odometer reading
You also need to check the reading on the odometer while the car is being sold. It is important to record the mileage of the vehicle and mention it in your Bill of Sale. You can find most of the free templates of Bill of Sale mentioning the Odometer Reading and including a section about it. Many sellers follow the malpractice of turning back the odometer, in an attempt to show that the vehicle was driven for less distance – so as to get a higher sales price for the car. Do not try this at any time. Sooner or later, you might face legal hassles if this is found out.
Give the Payment details
It is important to write the sales price of the car down, as well as the payment mode that you agreed on. In many cases, purchasers promise a lump sum cash amount while taking possession of a car. But in case you consented to getting paid in installments, you have to describe all the terms that you agreed on.
Write down the Terms and Conditions
Ensure that the BOS is written in a language that you are selling the vehicle in an “as is” condition. In that case, you are not extending any kind of warranty or give any guarantee regarding its condition.
Include the buyer and seller information
The bill of sale in Arizona should also include the phone numbers, addresses and names of both parties, who are supposed to sign the bill of sale document.
Sign the document
Signatures are very important on a Bill of Sale document. Both the seller and the buyer need to sign the Bill of Sale document, and give a date to it. It is important to know whether your state prefers to have the BOS notarized as well.