Motor vehicle sales contract template – Whenever you sell something with someone, you need to establish a contract. This contract will offer protection to you, the seller, and to the buyer. Adding details that will protect the buyer will also attract the buyer into most likely agreeing into terms.
The basic information that should be in this contract is the make and model, the price, and contact information for both parties. The sell item contract must also include a disclosure about the product, including a list of things that you know have to be fixed. You should also have a phrase stating that the product is being sold as is, unless of course you’ve agreed to perform repairs prior to the last sale.
If you’re selling your privately and you opt to take a delayed payment, you will have to include all information relating to the payment in your sell item contract. This information must include the quantity of money to be paid, how many installments will be made, when the installments will be made, and when the last term of the contract should be fulfilled. The item sell contract should also list details about late payment penalties, and once the seller has the right to reclaim the property if the arrangement should be breached.
As well as the model and price, the item sell agreement must state whether the product has a clear title, and in what condition the product is titled in. In most states it’s legally required to have a clear title so as to sell a product for anything aside from just parts. If your item does not have a clear title, be sure that the contract clearly states this fact, and that the item 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 might also find templates for sell item contracts easily through free legal form websites or Microsoft template sites. Take a look the sample of motor vehicle sales contract template below at the attachment page.