When selling something of value, like a motorcycle, it’s essential to have a clear and legal bill of sale to protect the buyer and seller. A bill of sale provides both parties with an official document with all the important information on it in case of any future issues. Writing a motorcycle bill of sale is quite simple. It doesn’t have to be complicated or very formal, especially when the sale is between two private parties.
There are many different templates available online to help you write your motorcycle bill of sale. To make the document legal and to prevent any problems in the future, it’s important to include some basic information on the sale. The bill of sale in any transaction is designed to outline the terms of the agreement in a clear manner to prevent confusion from either party. Motorcycle bills of sale are very similar to documents used when selling other types of vehicles.
What is a motorcycle bill of sale?
A motorcycle bill of sale is an essential document that shows the exact details of a motorcycle sale between two parties. This can be between private individuals, two businesses, or a combination of these variables. The bill of sale outlines the terms so that each party knows the expectations and requirements to complete the sale. The bill of sale acts as a receipt to show funds paid to the seller. It also acts as an official document for the buyer that can be used when titling and tagging the motorcycle. The bill of sale lists all the agreed-upon terms of the sale to prevent any further disputes.
Do I Need a Bill of Sale for a Motorcycle?
A bill of sale is very important. You should always write one up when selling any type of vehicle. The bill of sale proves the terms of your sale and ensures that everything is done legally. It’s also the proof you need if there are any legal disputes from the buyer in the future.
Motorcycle Bill of Sale Forms
How to Sell a Motorcycle
Selling a motorcycle is very similar to selling any type of motor vehicle. One of the most challenging parts of selling a motorcycle is the test drive. As a seller, you may not feel comfortable allowing your potential buyer to drive the bike since you may be unaware of their experience and riding skills. This is something that needs to be worked out with each individual sale. Be sure to go over the terms of the sale before signing documents and ensure that your buyer signs your copy to make it legal.
How to Write a Bill of Sale
The bill of sale should be concise while still including are the important information about the sale. The following items should be included on all motorcycle bills of sale:
- Names of buyer and seller – Be sure to include space for each person to print and sign their name.
- Date of the sale – It’s helpful to have both the buyer and seller print the date beside their name.
- Terms of sale – Include any important details of the sale in a paragraph on the bill. This includes things like “sold as is” or sold with accessories.
- Price, down payment, etc. – Include the amount paid on the date of the sale. Add whether the buyer paid in full or whether they will owe a future balance or pay in installments to pay off the balance.
- Addresses – Include the buyer’s and seller’s addresses, including phone numbers can also be helpful.
- Information specific to the bike – It’s essential to include the motorcycle’s year, make, model, odometer reading, and VIN number. You may also include the color or any other specific details.
- Seller certification – Include the following statement as it pertains to the motorcycle. “Seller certifies they are the legal owner of the bike and that there are no outstanding liens on the motorcycle.”
Can You Handwrite a Motorcycle Bill of Sale?
You can legally handwrite a bill of sale as long as it includes all the pertinent information. But if you do choose to handwrite the document, be sure that all handwriting can be read easily and make two copies so the buyer and seller both have matching documents. Keep in mind that the buyer will need a legible copy of the bill of sale with the VIN number and other motorcycle information to register the bike. This can vary state by state, so it’s always helpful to know the specifics for the state you’re selling the bike in.
When creating your bill of sale, be sure everything is legible. The buyer and seller should both have a copy of the bill of sale to use if there are any further questions or disputes. Some people may prefer to have the bill of sale notarized or have a witness view the signing of the bill of sale by the seller and buyer. While these processes can be troublesome, it’s important to be sure that your bill of sale is legal and there is no room for disputes.
The bill of sale is the legal document that outlines the basic terms of your motorcycle sale. It protects the seller and ensures that the buyer understands the terms of the sale. It can be concise but should be written, typed, or filled out using a template to ensure there is no confusion in the future.