A trailer bill of sale represents a legal paper that officially confirms the transfer of the title of a trailer’s possession to another person. Such a juridical document is advantageous both for the seller and the customer since a bill of sale for a trailer ensures you with a record of your sale, which is legally obligatory and may be used to protect your rights. Over the course of our article, you will learn all important information on the completion of the bill of sale, how to form the price for your carrier correctly, and what types of such a conveyance are in demand in the United States. You can also find out whether the signatures must be on all of the bill of sale form documentation, etc.
For instance, the sale of boat trailers can be carried out as a separate deal, for which you will have to use the trailer bill of sale and the boats’ purchase agreement.
It is vital to note that the definition of a trailer describes it as a vehicle of a large size intended for being transported by truck or hauler or a furnished transport means drawn by a truck or automobile and used as a residential space or working office when parked. Essentially, a trailer is a transport vehicle, so if you want to sell it or perform the ownership transfer, a corresponding bill of sale will come in handy that will guarantee the security of the transaction between you and the buyer. If you are the one who wishes to purchase a trailer, you should also protect the transaction by requiring the seller to submit the trailer bill of sale document.
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In brief, such a state document helps to protect the rights of both the seller and buyer if any issues occur. Due to the prevailing number of buying and selling deals between private individuals are realized using cash, it may be difficult to prove that the item was obtained or paid for without accurate document provision.
Looking at the document on the seller’s side, you’ll see that the trailer bill of sale is crucial since it provides evidence of how much money the purchaser has pledged to pay, as well as the confirmation that the customer has accepted the liability for the trailer. Thus, the dealer will escape any financial liability in case the trailer gets in an accident later.
As for the customer’s side, such a bill of sale is also very critical when you are acquiring a trailer. In this situation, the trailer bill of sale gives a proof that the seller of this means of transport legitimately transferred the title to you and that from now on, you are a full owner of this trailer. It can also help the buyer to certify that the transportation means was promised to be in a particular state.
By analogy with all legal documentation, a trailer bill of sale can be quite challenging to compose on your own. For this reason, we provide you with a special trailer bill of sale template that you may download at our website to write your own trailer bill of sale. Mind that all downloads of our example of the bill of sale form are free of charge and all of our trailer sale forms are top quality. By using templates of a bill of sale form for a trailer, you will get the opportunity to include your special terms and conditions without getting perplexed by complex legal terminology and language. The free bill of sale form for selling or purchasing a trailer is available in all digital documents of popular formats – that is, PDF format, .doc (Microsoft Word), and .odt. Hence, you are free to add any related information you want into the template, fill out all the necessary fields, and then print it out.
Besides that, you can utilize our stage-by-stage builder to create a highly customized form of the trailer bill of sale.
Of course, there is also an option to contact a lawyer for proper consultation on the relevant topic, but it would cost you some money. Competent jurists can masterfully make a high-quality copy of a bill of sale form for you, although you would have to purchase it, which is not the most profitable way to sell your trailer. The price for such a service varies from a law firm to a law firm as well as their warranties and version of the offered bill of sale form documents. Plus, you will have to disclose private information like your street address, the state of your residence, VIN of your transport means, and other vital details. You will also be requested to adorn every section of the bill of sale form with your signature while also making sure to specify your email address. And if you have almost no experience in the trailers’ sales dealings, resorting to the help of lawyers who claim to be experts in the conduction of the bill of sale form may turn out to be too exhausting for you.
If you decided to put your trailer up for sale but you have no idea where to start this adventurous event or how to form a fair price for it, follow our simple step-by-step instructions below.
Step 1. Describe the Type of Trailer
The trailers’ worth may vary significantly from several hundred to thousands of US dollars based on the type of such a vehicle. Similarly, the characteristics of the trailers range from model to model, including their registration details and purposes of use. The trailers can be very different depending on their designated purpose and structure, but the most popular kinds in the United States are included in the next short list:
After you figure out the type of such a vehicle, it is advised to learn its length and year of manufacture as well as the number of axels, maximum weight in pounds, and other essential characteristics (like vehicle identification number) that might be useful to a potential buyer. Collect all of the necessary information about it.
Step 2. Set the Value of the Trailer
In contrast to conventional means of transportation, trailers are produced in various forms and dimensions. Deciding on a price hinges upon the type of the vehicle in the first place, more than upon the name of its manufacturer, so before the purchase, it’s recommended to collect information that will potentially help you out with this task. It is preferable to view similar transport means to put up on the market in your area when pondering on the price of your trailer and compare the prices of the discovered options. Most likely, you won’t find a “perfect match,” but, at any rate, you will find a comparable trailer and figure out the possible price of yours.
Step 3. Offer Your Trailer for Sale
Prior to listing your trailer for sale, it would be best to examine in which condition your property is, especially if it’s been on the road for a long time. If its state requires so, wash its exteriors, repair any damages (e.g., remove the rust), and clean the internal premise of any garbage. In short, make sure that the condition of your transportation means is satisfactory so that the purchaser wouldn’t question it. Thus, you will ensure yourself with the best photos when posting your ad on different websites. It is better to address the following online and offline ways for listing your ad:
Step 4. Meet With Prospective Buyers
Do not neglect meeting with potential buyers hoping that the vehicle will be sold to someone for the set price. When talking to any individual who wishes to purchase your trailer, make sure they are qualified enough to operate and maintain such motor vehicles. Also, question if they hold the required amount of cash to finish the sale to eliminate the possibility of being involved in a fraud. The majority of lenders will not provide the person with a loan for buying a trailer unless the boats or other vehicle is part of the sale.
According to the trailer’s documentation that the seller has in their possession, you may also settle on the price, but only if the seller has all essential vehicles-related papers with their signature on their hands.
Step 5. Complete a Trailer Bill Of Sale
When filling out the bill of sale form, ensure that the following information is featured in it:
To confirm the identity of the dealer and the buyer, the two of them take government-issued identification cards or driver’s licenses with them.
Step 6. Notify the State of Your Acquisition and Register It
If the trailer is in operation, the buyer will need to have the ownership cleared and transferred by the dealer before applying for registration. Be sure to register your newly-acquired trailer within a period from 5 to 30 days. The list of requirements contains the necessity to present the trailer bill of sale, title, registration statement, and any sales tax to the local licensing office, also known as the “DMV.” At this step, the deal is accomplished, and parties shouldn’t have any obligations to one another unless it is established in the trailer bill of sale.