What Is Needed On A Bill Of Sale: Fill & Download for Free

A Bill of sale signed by the buyer works wonders. My father died a few days after a guy bought a piece of farm equipment. The bill of sale was on the only piece of paper dad found that day. It was literally on a paper plate. Odd, but knowing my father, perfectly legal and understandable.Guy showed up in the spring for the disc harrow. This is a stock photo. I never thought to photograph it.I told him Dad had passed away did he have a Bill of sale. When the guy produced a paper plate I smiled as that was just like Dad. I helped him load it up and shook his hand.A Bill stating as is where is and how is protects the seller should the transmission go bad on the way home. People have also gotten cold feet and tried to sue the seller. My son had this happen to him. Like his grandfather he knew to have a bill of sale signed by both parties stating as is, how is, where is. The court threw the lawsuit out.

My wife won this Honda Civic on The Price Is Right, back in 2016.Nothing happens until after the show airs. We were sworn to secrecy until then. She had to sign non-disclosure paperwork stating that we would tell nobody or risk forfeiture of all prizes. We had to keep this secret for ten weeks, until our show finally aired.A few weeks after air date CBS mailed our California non-resident state income tax bill, for 7% of the value of the car. (In our case, 7% of $22k or $1540). Again nothing happens until they receive that payment, in a certified check! A few more weeks passed before Honda of Hollywood, who had provided the car, called to arrange delivery.We assumed they would just have us pick up the car locally rather than ship it, because we were living in Buffalo, New York. But it’s up to the local California dealer, and they chose to ship it to New York. (Probably because they get full credit from Honda on the sale, and get it off their lot. It was late in the year and the new models were coming in.)We waited over a month for them to finalize shipping. The show aired in early November and we didn’t get it until February. They ended up putting it on a private carrier who was bringing miscellaneous cars cross-country. He delivered it to our closest WalMart parking lot on a Sunday night at 11PM! We had to nervously drive it home without license plates in the dead of night!Now the story gets crazy.We went to the Department of Motor Vehicles (DMV) the next day to get the plates and title. They wanted a “Bill of Sale”, which of course we didn’t have. “We won it on Price Is Right,” we explained. Word got around the DMV office and everyone was congratulating us. Finally the “supervisor” had to get involved. They determined we needed a Certificate of Origin. We weren’t given that either. All we had was the tax bill from CBS. We called the dealer; they didn’t have it. They had to call the Honda factory in Ohio for that. So that took the whole week to sort out.We left empty-handed but finally got the plates on our next DMV visit a week later. We still have the car three years later and LOVE IT! The rear plate holder is the one given to all car winners and says, “I won this car on The Price Is Right”. The front plate holder is “HONDA of HOLLYWOOD”. Both make for great conversation pieces! [I filed down the screws on the rear plate to prevent someone the temptation of stealing it!]Fast-forward to the following January and the 1099-MISC arrives from CBS. We were prepared to pay federal tax on the car and had put money aside. What we didn’t anticipate was that the extra $22000 would push us into a higher tax bracket. So we paid more than anticipated. The tax software makes it easy to calculate with car and without car taxes, and the “with car” tax differential amounted to 31% of the car, or an extra $6800. We got all that California pre-paid tax back (filing non-resident form), but ended up paying it (7%) to NY State instead.Total taxes: 38% or $8372.Was it worth it? Hell yes!

I have worked in the accounting office of a car dealership for 6 1/2 years, and where I work I am personally responsible for trade-in payoffs. Here’s my two cents:First, I do understand why you see it as odd that the vehicle is already marked as For Sale. Since the vehicle hasn’t been paid off yet, they do not have the title yet, but unfortunately the sales department’s idea of turnaround time is different than the business office because they are looking for the next sale as quick as possible. I run into this a lot; deals or auction bill of sales that I am waiting on titles for; however, this doesn’t necessarily mean there’s a scam.In regards to paying off the vehicle, there are quite a few factors. One being that your new deal has to be funded and the funding lien holder must have deposited the funds into the dealership’s account in order for the deal to be considered 100% legitimate and approved. There are many delays to this due to customer interviews, employment verification, social security number verification, residential verification, contracts needing adjusting from finance, typos needing to be corrected, different banks have different response and follow-through time frames, and COVID has increased the wait time for banks to fund deals. The dealer is responsible for any late fees that accrue as a result of payoff delays, or if you make a payment, either the dealer or the lien holder is supposed to refund you back. Technically, if your current vehicle purchase isn’t funded and approved by the new lien holder, then the dealership cannot legally pay off the trade. Because if your deal falls through and “dies”, then you will have to return the car and take back the traded in vehicle, in which case the dealership would refund you any down money, the contract will become null and void, and you would still be liable for the car payments of the trade. Your payoff amount is bundled into the cost of the new vehicle unless you own the car outright, in which case the total value of the car is deducted from your new vehicle’s cost. I should also note that once you trade the car in, the car is still technically owned by you until the dealer transfers ownership, and that cannot be done without the title. This is coming from me working for a reputable company. I cannot speak on behalf of any low brow or shady dealers, but what I have mentioned is how it is supposed to happen.You have the right to ask about the payoff and you have a right to know the status of your current deal.I will also say, based on my experience, that no one should EVER SIGN ANYTHING without reading it. And ALWAYS check the spelling of your name and address. ALWAYS demand, as the consumer, that you are provided with a bill of sale. I see careless mistakes and angry customers as a result of this much more than I should. Hope this helps.