Buy and sale contract template – Whenever you sell something with someone, you need to set up a contract. This contract will offer protection to you, the seller, and also to the buyer. Adding details that will protect the buyer will also bring in the buyer into most likely agreeing into terms.
The basic information which ought to be in this contract is the make and model, the cost, and contact information for both parties. The sell item contract should also include a disclosure about the item, including a list of items that you know have to be fixed. You should also have a phrase stating that the item is being sold as is, unless of course you have agreed to perform repairs before the last sale.
If you are selling your privately and you decide to accept a delayed payment, you will need to include all information concerning the payment in your sell item contract. This information should include the quantity of cash to be paid, how many payments will be made, when the installments will be made, and when the final term of the contract should be fulfilled. The item sell contract must also list details about late payment penalties, and once the seller has the right to reclaim the property if the agreement should be breached.
In addition to the model and price, the thing sell agreement should state whether the item has a clear title, and in what state the product is titled in. In most states it is legally required to have a clear title in order to sell a item for whatever other than simply parts. If your item doesn’t have a clear title, make sure the contract clearly states this fact, and that the merchandise is being sold for parts only. Needless to say, your contract should be signed by all parties, and all parties should be given a copy. Some countries require a notary as well, so be sure to check the local laws. You can also find templates for sell item contracts easily through free legal form websites or Microsoft template sites. Check it out the sample of buy and sale contract template below at the attachment page.