General Bill of Sale

A general bill of sale serves as a receipt for any transaction involving cash or services. The owner needs it if they need to show they own the property. This document records the sale between two parties. At the end of the sale, both parties must sign it. The personal property is sold “as is” without warranty. Items commonly sold this way include:

• Furnishings
• Jewellery
• Pets
• Instruments

General Bill of Sale Template

By State

How Does A General Bill Of Sale Differ From Other Types Of Bills Of Sale?

A general bill of sales typically contains the following information:

• The date the buyer bought the item
• The buyer and seller’s name and address
• The buyer and seller’s signatures
• Detailed information about the transferred property
• The amount paid to transfer ownership
• Representations or warranties
• A guarantee that the item for sale is free of claims.
• The buyer and seller’s signatures

Other types of bills of sale must include additional information. For example, a vehicle bill of sale must also provide the following details:

• The vehicle’s brand, model, and when the company made it.
• Odometer reading
• The vehicle’s description
• Serial number or identification number of the vehicle

How to Create a General Bill of Sale

When creating this document, put information in it to make it legally binding. This information is essential because it will better explain how much sales tax the buyer must pay. When writing it, make sure to include the information mentioned above.

How to Write a General Bill of Sale

A general bill of sale should contain several sections.

Step 1 – Date and Parties

• Specify the date the buyer and seller created the document.
• Give the name and mailing address of the seller.
• Give the name and mailing address of the buyer

Example

Parties. This Bill of Sale was created on the 16th of March 2022, between a buyer known as Joe Smith with a mailing address of 123 Main Street, New York, NY 10001, and a seller known as John Jones with a mailing address of 225 Walker Drive, New York, NY 10001

Step 2 – Property Description

This is a description of the property being sold.

The buyer agrees to purchase a Hewlett Packard All in One Computer.

You can provide the serial number here if there is one.

Step 3 – Information About the Purchase Price

Enter the amount of the agreed-upon purchase price

The buyer agrees to pay the purchase price of $3,000 for the above-described computer.

Step 4 – Security Deposit (if applicable)

• If the buyer is putting down a security deposit and making payments, enter it here.
• You can check the box to refuse the security deposit but promise to pay in full once the seller wants to sell.
• Sellers must read the “Other Claims” section of this section and agree before signing.
• Governing law – indicate the state where the buyer is purchasing the property.

• The buyer agrees to put forth a security deposit in the amount of $__________ being credited to the purchase price on the sale date. The following conditions are associated with the security deposit:

• There is no security deposit, and all funds will be present on the sale date.

Step 5 – Sign The Bill Of Sale

• Sign the document with the date DD/MM/YYYY
• Give the seller’s signature and name.
• Signature and printed name of the buyer.
• Witnesses’ signatures and printed names

As of this 16th Day of March 2022, the buyer and seller agree to the above-described terms and conditions for the sale/trade/exchange of (description of property)

Signature_________________ Printed Name_________________________

Signature_________________ Printed Name_________________________

Signature__________________ Printed Name________________________

Signature__________________ Printed Name_________________________

Step 6 – Notary Public Acknowledgement (in states where this is required)

Once the document is completed and the parties have provided identification, the notary will provide their required information and acknowledgment.

Acknowledgement of Notary Public

State of _________

On this ___ Day of __________, ______, before me appeared ______________ as Buyer of Bill of Sale who provided to me through government-issued photo identification to be the above-named person, in my presence executed the foregoing instrument and acknowledged that he/she executed the same as his/her free act and deed.

My commission expires________

State of _________

On this ___ Day of __________, ______, before me appeared ______________ as Seller of Bill of Sale who provided to me through government-issued photo identification to be the above-named person, in my presence executed the foregoing instrument and acknowledged that he/she executed the same as his/her free act and deed.

My commission expires________

Finally, it’s a good idea to double-check it to ensure it’s accurate and free of errors. If you have any other questions, you might also wish to contact a business lawyer.

FAQs

Notaries are not required to witness the signing of a bill of sale in most states. However, a notary does have to see the signing of the document in the following US states:

• Louisiana
• Nebraska
• Maryland
• New Hampshire
• West Virginia
• Montana

Yes, Microsoft Word has a few different general bills of sale templates. The template includes places for both the buyer and seller’s information. Additionally, Microsoft Word templates for a bill of sales include the quantity of each item for sale, a description of each item, the price of each item, and the total for each item. Spaces for sales tax, shipping, and handling, and a grand total can be found at the bottom.

Again, to briefly summarize how to make a bill of sale:

1. Provide details about the property – this includes location, brand, year, model, vehicle type, mileage, and the vehicle’s ID number if any of those things are applicable. If they aren’t, you will describe the property you’re selling.
2. Provide the information for both parties – provide seller and the buyer’s names and addresses. If you need to, you can list multiple sellers and buyers on your bill of sale. When a company is selling something, use its official name rather than its trade name, XYZ Limited, rather than XYZ Sales.
3. Give the price – If it includes sales tax, you can decide whether or not to include it in the total or list it separately. Include the payment method. The buyer can make payment the following ways:
4. Draft on demand
5. Money
6. Online banking
7. Promissory note

A demand draft is a certified check one bank writes to another bank. It’s a very safe way to transfer money. Promissory notes are legal documents showing the borrower promises to repay the lender according to the contract terms.

1. Make a note of liens or loans – If the property has any liens or loans, make a note of them. Give the lender’s name, the current loan amount, and terms, like the interest rate and repayment schedule.
2. Should the purchaser inherit a loan or lien, the seller should lower the purchase price accordingly. If there’s a loan or lien on the property, the purchaser shouldn’t accept the bill of sale unless they want to assume all responsibility for the outstanding debt.
3. Include any necessary additional clauses – If any terms or conditions are missing in the bill of sale, add them in other clauses. Write them clearly and keep the clause descriptions or specifications limited to one paragraph to reduce confusion.
4. Sign it – Give the date on which each party will sign the bill of sale. If you don’t know the date the parties will sign, leave it blank.

You can find a general bill of sale example or a free general bill of sale anywhere on the Internet. Just search for “free general bill of sale” or “general bill of sale example.”

Just search for “general bill of sale template in [your state],” and you’ll find several general bill of sale template examples you can use to create your general bill of sale. While not all states require a document to verify or authenticate the sale of property, it is good practice to maintain a record of your official exchanges.

There are many examples of general bills of sale on the Internet, but if you’re in a pinch and need to handwrite your bill of sale, you can also do that. Just remember to include all the information mentioned above. Even if your document is handwritten, ensure that you go through the appropriate channels to have your transaction realized as an official document. Your document must include all of the necessary information, contain the signature of both parties, and be notarized to make it official.