Keys to Drafting a Bill of Sale for Craigslist Transactions
Buying and selling on Craigslist can be a great way to find amazing deals and make some extra cash while getting rid of items you no longer use or want. Whether you are buying or selling, you should always create a bill of sale for every Craigslist sales transaction to protect yourself.
What is a Bill of Sale?
A bill of sale is a contract that establishes the terms of a sales transaction for any type of personal property between two private parties. It outlines who is selling what to whom and with what, if any, assurances.
Why is a Bill of Sale Important?
First and foremost, a bill of sale clearly identifies the agreement between the buyer and seller. It records the item being sold, the condition agreed to at the time of sale, and the amount being paid for the item. Used items are nearly always sold in “as-is” condition. This clause protects the seller from any liability should the item stop working or be damaged after the sale. As a buyer, it’s important to verify the item is in working condition before finalizing the sale.
Common Bill of Sale Pitfalls
Not limiting liability — There are not always warning signs that an item is going to stop working.Things break. A bill of sale that clearly limits the seller’s liability protects the seller if it fails after the transaction.
Failing to comply with local laws — Some states require a written record of any sales transactions over a certain dollar amount. A bill of sale fulfills this requirement. All of the legal documents on Flashlawyer have been created by legal professionals with the specific intention to meet the minimum legal criteria across as many jurisdictions as possible.
Ways to Create a Bill of Sale
The most traditional way to create a bill of sale is to have a lawyer draft one for you. But the cost of the hiring an attorney to create a unique bill of sale for every Craigslist transaction can add up quickly. At the other end of the spectrum is to simply find a bill of sale template online. The problem with this is that many have been created by people without legal experience and it can be hard to tell if the template legally binding. This is where Flashlawyer’s Bill of Sale Generator can help.
For example, maybe you need a new lawnmower. After searching and doing a bit of research, you find a model available at a price you’re willing to pay. The next step is to make arrangements to conduct the transaction — that is, meet the seller, inspect the lawnmower, pay for it, sign the bill of sale, and take the lawnmower home.
The internet provides all sorts of ways to easily generate a customized bill of sale based on a document created by our legal professionals, save it to the cloud, collect secure e-signatures, and export it as PDF. If you sell things regularly on Craigslist, you may want to consider a premium account but for most people a free FlashLawyer account will cover all of their legal documents needs, bill of sale included
