Bill of sale is usually required in the sale transaction that is subjected to tax. A general bill of sale form is a legal binding document, therefore, if you have never created one before then you will find the task challenging.
Don’t worry! We provide a ready-to-use and free general bill of sale template to help you prepare a bill of sale quickly and easily. You just need to print it out and use it whenever you want.
Importance of the general bill of sale
If you are selling or buying valuable personal property without a bill of sale, you may NOT comply with local state law. Your state may have a law to require that you must have a bill of sale for the private sale of a good with a certain amount of money i.e. California requires buyers and sellers to have a bill of sale for the sale of a good $500 or more.
If you don’t have a bill of sale, you are unprotected from the future disputes. If the item you bought or sold have a problem such as equipment is not working as expected, you can always use the bill of sale as the reference for the resolution. In this case, the bill of sale serves as a written contract and save both the buyer and the seller.
General bill of sale details
The general bill of sale form should contain all relevant and important information about the buyer and seller such as name and complete address including street, city, state and zip code.
The general bill of sale also contains the comprehensive information on the item being sold including its description. The purchased price must be written down in the bill of sale clearly.
The seller may add warranties clause into the bill of sale such as the item is sold AS IS. Both buyer and seller must sign the bill of sale and each should keep a copy for future reference.
For some valuable property, the bill of sale should be notarized.
How to use general bill of sale
We designed the general bill of sale that is very easy to use even if you are new to this kind of legal document. Just download the zip file, extract it using zip software and create a new document from the general bill of sale template. You need to have Microsoft Word to edit and print the document. You can also print out the general bill of sale and fill it out manually.