Real Estate Bill of Sale Template (PDF Form)

Real estate refers to land or property that is either sold, bought, or rented for profit and is a common business in both countries and cities. When real estate exchanges ownership, federal and state laws require that the parties involved record the transaction through a formal document, this document could be a real estate contract or a Real Estate Bill of Sale. Below, we review the latter in detail, including how to prepare and use it.

What Is a Real Estate Bill of Sale?

A real estate bill of sale, also called a House Sales Contract or House Bill of Sale is a non-legal document used in real estate to record the transfer of ownership of a property from a seller to a buyer. It sometimes acts as a sales receipt and is considered a legally binding purchase contract if it is signed by both parties. Generally, it shows that the buyer obtained the property in as-is condition.

What is a Real Estate Bill of Sale Template?

A real estate bill of sale template is a customizable receipt document that can be completed to show a real estate transaction between buyer and seller. When selling property, you can download it, add your company logo, and input details such as the date of purchase, amount, deposit, and warranties.

Real Estate Bill of Sale (PDF Template)


Real Estate Bill of Sale 20211027

Download: PDF


    Essential Elements of a Real Estate Bill of Sale

    Most people looking to sell real estate begin by looking for a real estate bill of sale template. However, there are no bills of sale that are dedicated to real estate transactions – here, a real estate purchase agreement will do the trick – so you must customize a generic bill of sale. The information you include will depend on the nature of the transaction and the local requirements in your state, but, at the very least, your bill of sale should consist of the following elements:

    • The date the bill of sale was prepared
    • The property seller’s name and address
    • The property buyer’s name and address
    • The date of purchase
    • The purchase amount
    • The payment method, e.g., the deposit plus final payment, credit, mortgage, installments, etc.
    • The buyer and seller signatures
    • The property name, size, address, etc.

    In some states, you might be required to have the bill of sale signed by two witnesses and notarized by a public notary. Consult local laws or an attorney and modify your real estate bill of sale as necessary.

    Why You Need a Real Estate Bill of Sale

    A bill of sale records the exchange of ownership of real estate property and, by doing this, ensures that neither party is a victim of fraudulent practices. When notarized, the document also affirms that the parties that signed it are the exact people represented on the bill of sale. This confirms that both the buyer and seller agree with the information on the bill of sale.

    Additionally, because it captures the exact amount given to the seller by the buyer, a real estate bill of sale can act as a receipt for the purchase transaction. It also describes the property in detail should there ever arise a dispute about the legality of the transfer.

    How to Write a Bill of Sale for Real Estate

    You may have come across a bill of sale during a vehicle transaction or when buying equipment from a current owner. A Real Estate Bill of Sale is a similar document that identifies the property buyer and property seller and describes the property being sold. If you wish to record the change of property, here are the three easy-to-follow steps for preparing this document:

    Step 1: Obtain a Template

    You can easily download a real estate bill of sale template online or make yours using software on your computer. A great program to use is MS Excel or MS Word, which allows you to create a document and input important fields like date, purchase date, amount, property address, etc.

    Step 2: Supply the Details

    Once you have a working, customizable template, supply the required details and enter them into the bill of sale. You want to start by identifying the property buyer and seller by their full legal names and current mailing address. You must then describe the property by address, size, dimensions, etc.

    The next step is to note the payment details. Input the full purchase amount, the amount paid by the buyer, and the method used to pay if the sale involves a payment agreement where the buyer must make a deposit or pay a remaining amount in installments, describe this arrangement.

    Now, mention any warranties made available to the buyer for the purchase. Most bills of sale record as-is transactions, where the buyer accepts the property in its current condition.

    Step 3: Sign the Bill of Sale

    Finally, have both parties read through the real estate bill of sale and, if everything is in order, sign the document. Depending on where you live, you might need witnesses and notarization.

    FAQs

    Will a bill of sale work as a title?

    No. A bill of sale and a property title are two different but complementary documents. You need a bill of sale to obtain a title for property bought directly from the owner. Nonetheless, the former shows that ownership has been transferred from one party to another while the latter certifies a buyer’s legal ownership of property.

    Does a bill of sale protect the seller?


    Yes, a real estate bill of sale protects both the buyer and seller in the event conflict arise in the future. However, it has to be signed by both parties to be considered binding.

    Who keeps the bill of sale?


    The seller prepares the real estate bill of sale and gives a copy to the buyer. Both parties should maintain a copy of this document.

    Final Thoughts

    When preparing a Real Estate Bill of Sale, include basic details about the buyer, seller, and the property. You should also include unique details about the transaction, such as those covering payment agreements. When you are done, consider having an experienced attorney review the bill of sale to determine whether it complies with state laws. Your attorney will advise you on the clauses you should remove or add from your bill of sale and tell you whether you should have the document notarized.