Sales contract addendum template – At any time you sell something with someone, you need to set up a contract. This contract provides protection to you, the seller, and to the buyer. Adding details that will protect the purchaser will also bring in the buyer into most likely agreeing into phrases.
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 must also include a disclosure about the product, including a listing of items that you know have to be fixed. You should also include a phrase stating that the item is being sold as is, unless of course you’ve agreed to perform repairs before the final sale.
If you’re selling your privately and you opt to accept a delayed payment, you’ll need to include all information concerning the payment in your sell item contract. This information should include the amount of cash to be paid, how many payments will be made, once 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 fees, and once the seller has the right to recover the property if the agreement ought to be breached.
In addition to the product and price, the item sell agreement should 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 item for whatever other than just parts. If your item doesn’t have a clear title, be sure 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 must 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. Have a look the sample of sales contract addendum template below at the attachment page.