Selling and purchasing of furniture are one of the most up to date and profitable trades these days. If you are already into this business, you would know that you need a bill of sale when selling distinct commodities.
What Is a Furniture Bill of Sale?
The furniture bill of sale is a legal document that provides proof of the authorized sale and purchase of any type of furniture, indoor or outdoor commodities.
The document is retained as a receipt to the buyer and is created, completed, and provided at the point of purchase. All signatories of the deal must be provided with a copy of this document for record.
When Do You Need a Furniture Bill of Sale?
You will require the furniture bill of sale mostly when you are buying secondhand furniture from a seller. The reasons you should never compete for such a purchase without receiving a receipt of this document are as under:
- This document is a legal proof that the person that is selling the furniture is the real owner of it. Also, you can produce this document in the court later if you have to prove your ownership.
- It is essential for both parties to be aware of all the terms, conditions, and outlines of the agreement before signing it. This document will do it for you.
- In case, a disagreement rises after the transactions are sealed, this document will act as a potential third person between buyer and seller to safeguard their interests.
What to Include in a Furniture Bill of Sale?
You can either create your own furniture bill of sale or download a customizable template. The latter option is more time-saving. But in both cases, the template will contain the following components for sure.
- Complete name, contact numbers, and mailing addresses of both seller & buyer.
- Date, time & location where the purchase was finalized. It includes information like state, zip code, and city code.
- The mutually negotiated or final greed price for the furniture.
- Agreed form of payment. Payment can be made in cash, cheque, debit/credit card, or digital funds transfer.
- Complete description (color, brand, type, serial number, condition or other vital details) of the furniture.
- Printed names & Signatures of the buyer, seller, and all the witnesses.
Conclusion
If you are interested in buying and selling furniture or similar large commodities, you must acquire the necessary knowledge about furniture bills of sale. It is a document that serves as legal proof of ownership and the transactions that happened.
At CocoSign, you can get a free template that can be customized as per your information, Not only that, but you will also get access to hundreds of other business document templates like receipts, proposals, invoices, and much more. Visit CocoSign now to get all these documents.