A bicycle bill of sale form is a vital document that acts as a receipt showing the purchase contract between the buyer and seller in detail. When you want to sell your bicycle, ensure that you incorporate a bill of sale form before finalizing the transaction. A bicycle bill of sale form is an essential document that shows the business deal between the buyer and seller. It is a legal document that binds both parties through signatures and acknowledgment of liability as per the purchase agreement.
The bill of sale form provides details about the bicycle, the purchase price, names of the seller, buyer, and witnesses, and other relevant information.
Although you may sell your bicycle without a bill of sale form, it is more secure to incorporate one due to many reasons. Apart from records, it shows the real owner of the bicycle. It prevents scammers from selling stolen items since the sale form traces the history of transactions. No need to worry about the risks of fraud or scam as a bicycle bill of sale offers transparency and accountability.
The sale form offers convenience in carrying out a quick “as-is” sale without complications.
|Document Name||Bicycle Bill of Sale Form|
|Other Name||Bike Bill of Sale|
|Avg. Time to Fill Out||10 minutes|
|# of Fillable Fields||56|
|Available Formats||Adobe PDF; Microsoft Word|
If you want to compose a purchase agreement alone, you can research and see the samples of bicycle bill of sale forms to understand the requirements. But if you want a quick sale, you can download a free bill of sale form on our site.
Select a suitable format that works well for your business forms, whether you want Microsoft Word, PDF, or ODT. No need to stress yourself with paying lawyers for a purchase agreement while you can download it for free.
If you are looking to sell your bicycle and don’t know how to use a bill of sale form, follow the guide below.
Step 1. Describe the Bicycle
The first step is to describe your bicycle in detail. The make, model, color, year of manufacture, tire size, serial number, and other specifics make up the basic set of features to indicate in the document. Ensure the bike is in good state with no faulty parts. Buyers are more likely to buy a bicycle that does not require any repairs after the sale. Clean it up and start marketing your bike.
Step 2. Pricing
Before you start advertising the bicycle sale, ensure that you have a reasonable selling price. Do not overstate the cost because you might chase away potential buyers. Carry our extensive research and set a reasonable price that will favor both parties.
Step 3. Put Your Bicycle Up for Sale
You can contact several websites that can assist you to evaluate and sell your bicycle. Sites such as eBay, BicycleBlueBook, and many other online bike stores can assist you in evaluating the bicycle and making a quick sale.
You can design small ads for the local dailies or community magazines to scout for a buyer. The power of social media networks will also bring you closer to a potential customer due to a large number of followers on the website.
When you are approached by a serious buyer, you can set up a meeting to discuss the sale’s details, including the inspection date.
Step 4. Finalize the Bicycle Bill Of Sale
Once you agree with the buyer on the final price, it is now time to fill in the bicycle bill of sale form. It is simple and may take just a few minutes with the customer. Here are the details that can typically be found in a bicycle bill of sale:
After finalizing the deal, both parties receive copies (each signed by hand) of the bill of sale form upon the completion of payment as per the agreement by the buyer.
Below, you will take a look at the directions written by drawing upon the bicycle bill of sale template developed by our experts. Yet, make sure you go for the standard document when it’s available from your local authorities.
Step 1: Specify the document’s creation date.
Step 2: Enter the particulars of all parties (seller and buyer):
Step 3: Fill out the information regarding the bicycle that you are trying to sell:
Step 4: At this point, you need to establish the way in which you’ll receive money for the offer.
Enter the purchase date and write the full price that has to be paid for the bicycle. Next, pick one sale method:
Your next step is selecting the kind of payment:
The last thing to do in this particular part is to select whether or not all applicable taxes are included in the purchase price.
Step 5: Go through standard terms and ensure all parties are aware of them.
This part generally contains the “as-is” passage that indicates the bicycle is sold without a warranties.
Step 6: Now, the document has to be signed.
The buyer is usually not requested to sign the form. But, it’s advised to get the bicycle bill of sale signed by each party. To play it safe, the parties can choose a person who will attest the transaction and sign the bill of sale as well.
Step 7: Have a notary public attest the form
Notarization is generally not needed, but it is a solid option to create another layer of legal safety to your deal.
The original bicycle bill of sale copy should be given to the buyer. There are two approaches here: you need to either prepare and sign a pair of identical documents or get a copy for the seller to keep.