Preparing A Bill Of Sale For Car - What Are Some Tips For Buyers And Sellers?

A Bill of Sale (BOS) is a document prepared by the seller when he intends to sell any asset to a purchaser for a specific amount. Upon getting the amount, the seller transfers the ownership of the asset to the purchaser. In essence this is what the purpose of a bill of sale is. These are some useful tips that buyers and sellers should keep in mind while preparing a car bill of sale Alabama.

Sellers should quote a realistic price

To start with, sellers have to quote a price higher than the margin rate to the buyer. The price of the item or asset being sold can be enquired from different sources. A quotation of that specific car brand can be obtained from the internet and other resources, such as old car sales junction.

An idea about the cost of the car to be sold can be gathered from various sources and the price can be fixed after proper research. It should be thoroughly verified whether the buyer can pay the cost of the car in lump sum.

Check samples before preparing the BOS

It is possible to get sample bill of sale for car templates from the internet - both free and paid versions. Both buyers and sellers can check a few samples, to get an idea about how bill of sale for car documents can be prepared and made legally binding in form.

They can use proper legal terms as mentioned in the samples. Before proceeding with the sale, they can be assured of having a proper legal document in place.

Copies of the original documents should be made

For the safety and best interest of both parties, it is important to make copies of the original car bill of sale document. The seller should be the one to keep the original document with him but it should be shown to the buyer before preparing the final bill of sale. This is a good way to ensure a genuine sales process and the rightful owners of a car should use this process to prepare a bill of sale document that is accurate and legally binding.