Installment sales 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 to the purchaser. Adding details that will protect the purchaser will also bring in the buyer into probably agreeing into phrases.
The basic information which should be in this contract is the make and model, the cost, and contact information for both parties. The sell item contract must also include a disclosure about the product, 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 prior to the last sale.
If you are selling your privately and you opt to accept a delayed payment, you’ll have to include all information relating to the payment in your sell item contract. This information should include the amount of cash to be paid, how many installments will be made, once the payments will be made, and when the last term of the contract ought to be fulfilled. The item sell contract must also list details about late payment fees, and once the seller has the right to recover the property if the arrangement ought to be breached.
In addition to the product and price, the thing sell agreement must state whether or not the item has a clear title, and in what condition the item is titled in. In most states it’s legally required to have a clear title in order to sell a product for anything other than simply parts. If your item does not have a clear name, make certain that the contract clearly states this fact, and that the item is being sold for parts only. Of course, your contract should be signed by all parties, and all parties must receive a copy. Some countries require a notary as well, so be sure to check your local laws. You can also find templates for sell thing contracts readily through free legal form websites or Microsoft template websites. Have a look the sample of installment sales contract template below at the attachment page.