Sales contract or agreement – At any time you sell something with someone, you will need to set up a contract. This contract will offer protection to you, the seller, and to the buyer. Adding details that will protect the purchaser will also bring in the purchaser 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 item, including a list of things that you know need to be fixed. You should also include a phrase stating that the product 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 opt to accept a delayed payment, you will have to include all information concerning the payment in your sell item contract. This information must include the quantity of money to be paid, how many payments will be made, once 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 fees, and when the seller has the right to recover the property if the arrangement should be breached.
In addition to the product and price, the thing sell agreement should state whether the product has a clear title, and in what state the item is titled in. In most states it is legally required to have a clear title in order to sell a product for whatever other than just parts. If your item does not 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 must be given a copy. Some countries require a notary as well, so make certain to check the local laws. You might also find templates for sell item contracts easily through free legal form websites or Microsoft template sites. Check it out the sample of sales contract or agreement below at the attachment page.