A trailer bill of sale form is a generic template that serves to record the change in ownership of a trailer. The main purpose of this form is to transfer the items like vehicles, everyday storage, etc. Furthermore, the original copy of this form is required by the new owner for registration, title, and obtaining license plates.
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What is a trailer bill of sale?
Basically, a trailer bill of sale is an agreement that acts as evidence of transactions made between a buyer and seller for a new and used trailer. This document is for the sale of any kind of structure that could be towed by a vehicle. It is beneficial for both a buyer and a seller because it protects them from unwanted liability and fraud in the future. Moreover, you can use it for both personal and commercial purposes. You should also check Bill Pay Checklist & Calendars Template.
Information should be included in the trailer bill of sale form:
The important information that should be included in the trailer bill of sale form is;
- VIN (Vehicle Identification Number)
- Make and model of the trailer
- Number of wheels
- The time period of manufacturing
- Signature of both parties
- The agreed price
- Name and address of the seller and a buyer
- Date of sale
Guidelines for selling a trailer:
Here are some guidelines that will help you in selling a trailer;
At first, determine the type of trailer. For pricing purposes, you must know every detail of the trailer you are selling. It enables you to build confidence with the buyer. If the information in the trailer doesn’t match with the trailer itself then this document protects you from any accountability. Furthermore, the prices of the trailers depend on the type of trailer you are selling. Typically, it is categorized into four groups;
- Hauling trailers which can be kayaks, boats, etc.
- Flatbed trailers
- Enclosed trailers which can be refrigerated
- Vehicle carrying trailers.
However, their prices lie in between hundreds to thousands of dollars.
Next, develop the trailer’s worth. The trailer’s type, size, and shape can identify the trailer’s selling price instead of its manufacturer. Before determining the trailer’s price, it’s better to first check the trailer over-under local listings in your area. In this way, you couldn’t underprice or overprice the trailer.
If you want to get the most cash from your sale then you should give it a good touch-up before listing it for sale. In addition, your trailer looks good for the web. You should list your trailer online because it can expand your customer base. Also, it makes you able to direct contact with prospective buyers.
After that, arrange a meeting with a prospective client in a quiet place to decide the final price. Builds confidence with buyers by making sure they that you deal with are genuine and understand the fundamentals of working a trailer. You can also ask them that what they will do with the trailer and are they agree with the trailer’s price.
When both parties agreed on a reasonable price, it’s time to create a complete and comprehensive bill of sale. Include the all above-mentioned important information in the document. Next, before allowing the trailer on the road, send these details for approval to the state. Keep in mind that every state has different times and regulations for approval.
Steps to writing a trailer bill of sale:
Let us discuss step-by-step how to write a trailer bill of sale;
Firstly, collect the details for your trailer, boat, outboard motor, etc. These details include;
- Purchase price
- Trailer description like condition, make, model, VIN, etc.
- Vessel description includes condition, hull material, HIV, etc.
- A motor description such as serial number, fuel, model, etc.
Also, include the name, address, and contact information of the buyer and the seller.
The next step is to check the state requirements. This is because every state has particular requirements for transferring the title of the trailer. Every state requires that the bill of sale should sign in the presence of an adult witness. However, all these key points should be mentioned on your state’s DMV (Division of motor vehicles) website.
Both parties should sign the form when the buyer and seller have agreed to all the mentioned terms in the bill of sale. To make the bill of sale validate your state can require the witness signature. However, you should sign your document by a witness party if you want to prevent a future dispute over the sale, even if it isn’t required by the state.
In the general case, the buyer has the original bill of sale and the seller keeps a copy. You can also make two similar copies and sign them by both seller and buyer. Moreover, some states require filing the bill of sale with the DMV.
File the bill of sale if only a trailer has sold. But if along with trailer boats or outboard motor has sold then the transfer can be handled by another office. You may also like Direct Deposit Authorization Form.
When you require a trailer bill of sale?
You require a bill of sale when you are going to buy a trailer. The bill of sale serves as proof of ownership and is mandatory to register the trailer with the DMV.
Secondly, you require it when you are selling a trailer. It protects you from a future dispute that may arise due to the trailer’s ownership or condition.
In conclusion, a trailer bill of sale form makes it easy for you to buying or selling any trailer. Both the seller and buyer use this form for smooth and secure transactions. If you want to sell a trailer then follow the above steps and guidelines they will surely help you in selling your trailer more effectively.