General Bill of Sale Form

A general bill of sale is a form that proves a transfer of personal property between two (2) individuals occurred. It outlines the details of what happened during the transaction. The seller must sign to confirm that they are giving up ownership to the buyer. Once this happens, the buyer is liable for the item. Both parties need to keep a copy of the form to verify the change of ownership. This form is commonly used for electronics, home goods, tools, appliances, and other similar items.

By State

Table of Contents

What is a General Bill of Sale?

A general bill of sale is a document that acts as a receipt when selling an item to a buyer. Both parties use this form for non-specific objects that do not fall into another category, such as snowmobiles, cars, or tractors. Instead, a general bill of sale is appropriate for video games, consoles, and jewelry.

When writing a general bill of sale, be sure to include the following:

How to Sell a General Item (3 Steps)

Follow the steps listed below to prepare, list, and sell personal property to a buyer.

Step 1 – Prepare the Item

Often, sellers who prepare the item before listing receive a more significant profit and have an easier time selling. The preparation method depends on the object, age, condition, and value. For example, the merchant can increase the worth of their personal property by repainting it, replacing parts, or updating pieces. In some cases, the buyer purchases an item to fix or upgrade it themselves. Therefore, taking time to research the item and its market value can help you prepare it as needed.

Step 2 – List it

Sellers must use advertising services that attract the right audience. For example, a merchant would use a general website for items like clothes or rugs. However, they would opt for a more specific service when listing a boat. If the owner does not wish to use an online service, they can take advantage of fliers, newspapers, yard signs, and more. The list below includes methods of advertising.

In addition to posting it on the correct site, the seller must also choose a reasonable listing price. Furthermore, advertising at the right price guarantees the owner makes a fair profit. Researching prices online, using services like Kelly Bluebook, and factoring in buyer negotiation can help the seller to determine the selling cost.

After posting the advertisement, buyers will contact the seller to set up tours. At this time, the buyer may try to lower the asking price, which is something the seller should be prepared to discuss.

Step 3 – Complete + Sign Bill of Sale

After negotiating, the buyer and seller must complete a bill of sale to prove the purchase happened. Both parties must fill out the form together and sign in the presence of a notary public or witness as needed. The form must include the following information: 1) contact information of both parties, 2) the item’s description, 3) the payment method and cost, and 4) signature(s).

After signing, the former owner must officially transfer the item to the buyer, or the new owner. As soon as this step occurs, the seller no longer has authority over the item, and cannot undo the sale.