Selling anything you own in a private sale comes with its fair share of risks, but the correct forms and precautions help mitigate these. In this post, we’ll show you how the steps you take let you set up a safe private sale.
Why an As-Is Bill of Sale is Important
A bill of sale is the contract between you and the buyer. Without it, you have basically no way of proving the sale happened and the conditions you placed on it.
You can get a template for these forms with warranties or “as-is” — depending on your situation, the latter might be best. Here’s when a USA as-is bill of sale template is the best option:
- The property won’t work for as long as a new version would
- You don’t want to be responsible for the property after the sale
- The property has noticeable flaws or cosmetic damage
- You’re selling something that’s high-value, even with flaws
As-is bills won’t push genuine buyers away. If anything, they’ll see your commitment to honesty, possibly giving you an even better buyer who doesn’t mind buying second-hand goods.
Always Be Honest
Adding to this, honesty is the best policy for any private sale. Any attempt to actively conceal an issue with the product could void the sale, even if you use an as-is bill.
Make sure any listing you share has full photos — or even a video — of the property from every angle. You should also be open to in-person inspections or even test drives.
Your bill of sale should describe the item in full. Leave no stone unturned here; the buyer needs to know exactly what they’re buying, warts and all. This means mentioning even minor cosmetic damages.
Find the Right Sales Platform
Speaking of online listings, search for a sales platform that fits your needs. Many people default to Craigslist or Facebook Marketplace, but this makes them vulnerable to scams. Only meet a potential buyer if you’re sure they’re genuinely interested.
Alternatively, you could sell your goods online, with the websites themselves helping you set up the transaction. eBay and Etsy are especially popular options. You can even send a virtual bill of sale; luckily, these accept electronic signatures.
Stick to legitimate sites with a good reputation — for more niche, local platforms, check them on Trustpilot and similar review services. However, even the best sites have unscrupulous “buyers”, so don’t let your guard down, even when meeting them.
Meeting Potential Buyers
Tread carefully when meeting anyone online, but especially someone interested in goods you’re selling. Here’s how to stay safe and make a sale:
- Meet in a public space, such as a SafeTrade station
- Only meet at your home when selling heavy goods
- If the home is unavoidable, stick to the porch/garage
- Bring a friend or family member with you as “backup”
- Meet during the day, or in a well-lit, high-traffic area
- Only hand over the item once you get the money
- Don’t accept checks; scammers often use fake ones
- Trust your instincts and cancel if something’s off
Staying Ahead of Scams
Even if the sale seemingly goes well, you might later learn you’ve been scammed. An “as-is” bill of sale helps with fraudulent claims of a faulty product, but it can’t stop every tactic these people resort to. Here are other common private sale scams to watch out for:
- Wrong bill of sale: The other party might refuse to use anything other than their own bill of sale. If they don’t budge, check it over for any glaring omissions.
- Fake checks: Never accept a check from someone you don’t know. You have no way of knowing if this will clear, and you won’t find out until after the sale.
- Middleman scam: A buyer might send someone else to collect the item. If this happens, don’t let them put any name other than the buyer’s on the bill of sale.
- Overpayment: A scammer may “accidentally” pay, ask you to refund the difference, then initiate a chargeback to steal the item and effectively make a profit.
A sale doesn’t have to fit any of the above criteria to seem suspicious — don’t be afraid to back away if necessary.
Vehicle Sales
Cars and boats work slightly differently. For example, your bill of sale will need extra information, such as the vehicle or hull identification number. You’ll also need to add an odometer reading.
You’ll also need to take extra steps, such as transferring the title (do this immediately). You must also check if you need to remove the license plates, and inform the DMV that you no longer own the vehicle.
Final Thoughts
Selling your property doesn’t have to be a minefield of risks, scams, and legal minutiae. So long as you use the right bill of sale and practice caution, you’ll have all you need for a legally binding transaction.
William Gall is a seasoned attorney specializing in civil litigation and family law. With a legal career spanning over two decades, William has built a reputation for his meticulous attention to detail and his unwavering commitment to justice. In addition to practicing law, he is a prolific writer, contributing regularly to various legal blogs where he shares his insights on current legal trends, case law, and best practices. His articles are well-regarded in the legal community for their thorough research and practical advice, making complex legal concepts accessible to both legal professionals and the general public.