How to write a bill of sale?
A bill of sale is a legal document that verifies the sale and purchase of real estate. It basically proves that you own the property now. Besides that, it can also be used to determine how much tax you have to pay and to settle any future disputes between you and the seller. You can get this document prepared by your realtor or lawyer. You can even make it yourself. The rules for bill of sale change from state to state, but there are a few things that are common everywhere. Before accepting the bill and signing it, you should make sure that it contains all these things. You can check the list given below for your convenience.
- Name and address of the seller
- Name and address of the buyer
- Description of the property, like its address, location, dimensions, type, etc
- Terms and conditions of the sale, if any
- Date the deal was made
- Details of the previous owner, the one who sold it to the seller
- Total price of the property and the amount paid
- Information on the rest of the payment, its due date and interest applicable
- Method of payment – cash, check, bank transfer, etc
You should check the bill and make sure that all the details included in it are correct. After the signing of agreement, both the buyer and the seller should have at least one copy of the bill of sale. The bill should be legible.