What Are Dirt Bike Bills of Sale?
Bills of sale are legal agreements signed between two parties to outline conditions of the ownership transition. Such documents are widely applied to sell and purchase dirt bikes as well as other vehicles. Creating a bill of sale doesn’t require much knowledge of laws and regulations. The only thing to consider is the requirements imposed by your state of residence. A physical copy of a state-authorized dirt bike bill of sale form can be obtained directly from the authorities. Your local Department of Motor Vehicles most likely provides such documents for free.
Although bills of sale aren’t necessarily involved in sales and purchases of dirt bikes, it’s strongly advised to use these documents. If you ever find a need to provide evidence of ownership over an asset, a bill of sale will satisfy both state authorities and private organizations. In addition, these documents can be used to sell or purchase a dirt bike quite fast. A bill of sale example can be signed within an hour; it’s the negotiation on the price and other details that consume significant amounts of time.
Mind that bills of sale can’t be used by publicly owned businesses. However, you can sign this document on behalf of a company that you possess. Mind that individuals aren’t allowed to trade land using bills of sale. In addition, these documents should follow official guidelines to obtain legal value.
Creating a Dirt Bike Bill of Sale: A Step-by-Step Guide
Although the document may seem simple, you should adhere to a predetermined structure for ensuring that it meets the legal requirements:
- Outline personal details of the sides. The necessary information includes names, ID numbers, phones, emails, and mailing addresses.
- Provide a description of the bike. This section should contain all details of the motorcycle, including its technical condition, make, model, year of production, and VIN code.
- Describe the payment terms. Bills of sale don’t limit the choice of payment methods whatsoever; the sides can use cash, checks, e-wallets, or promissory notes.
- Sign the bill yourself and hand it to other participants for signature. To obtain legal value, the document must be signed by all parties, including independent witnesses and public notaries (if any).
Although bills of sale may seem quite simple to organize, they require attention to detail. Instead of writing the document yourself, consider downloading a pre-arranged, printable PDF template from our website. We also provide a free form builder for creating customizable solutions.
Major Reasons to Utilize Bills of Sale
Bills of sale provide multiple advantages to both buyer and seller. From buyers’ perspective, these documents are very useful for registering newly obtained bikes. In addition, bills of sale can be utilized when filling in tax statements or qualifying for bank loans. Sellers benefit from relinquished legal liability, should their motorcycle be involved in a crime. Bills of sale help prevent disputes over the rights of ownership since a signed document provides enough evidence to rule out any case.
Selling a Dirt Bike with a Bill of Sale
Here’s an array of steps you should follow to sell your dirt bike successfully:
- Make all necessary repairs. Before listing the vehicle for sale, it’s essential to improve its condition as much as possible. Remove old rust, add new paint wherever needed, and wax the motorcycle for the best appearance.
- Appraise the bike. Once you’ve cleaned the vehicle, conduct small research on the market to find similar offerings. Before inviting an independent expert to appraise your motorcycle, estimate the price range to target. Once you have an overview of the market, narrow the search down to your area. Look for the same model and year of production to receive the most accurate value.
- List your motorcycle for sale. Reaching out to a wide audience is essential when selling a motorcycle, so use all available platforms. In addition to local themed magazines, place an advertisement online. Use all marketing means you can find, including word of mouth and notices on the streets.
- Negotiate the optimal terms. Once you find a reliable buyer, you’ll need to reach an agreement on the bike’s price. Remember that the customer may request a test drive; don’t hesitate to provide them with this possibility if you feel that the buyer can be trusted.
- Finalize the deal and sign a bill of sale. After finishing the negotiation, you should finalize the transition of ownership. At this stage, the seller receives either the full price of the bike or the pre-arranged partial payment. The buyer must register their new vehicle with the DMV to ride it.