Buying a used vehicle, such as a car or motorcycle, is a standard affair today. Why pay a commission to a dealer if you can look for customers online and complete a quick private deal without extra expenditures? It is easy to perform the task, but to be on the safe side, you should take care of the documentation. While a private deal is legal in the USA, there is still a need to tax the sale and report the item’s ownership to relevant authorities. Besides, you’ll probably sleep better at night if you know that all legal issues have been settled.
One of the ways to stipulate and notarize a private deal is a bill of sale. Not all states require its use in personal sales (e.g., in Tennessee, Alaska, Illinois, and several more locations), while in several states, a bill of sale is mandatory. Regardless of the area in which you plan to sell your item, having a document clarifying all vital details of the deal is always a plus. So, download a bill of sale template online (Formspal’s BoS template should be a good fit) and complete it by filling out all the required fields.. To understand what this document is and how to use it properly, continue reading our guide.
Continue reading Guide to Using a Bill of Sale – Who? When? Why?
