A Notarized bill of sale form is a material agreement that has been witnessed by an official notary public to substantiate the commemoration of a transaction involving the sale of an item or items in exchange for a designated monetary amount. This form records the specific information involving the buyer, seller, item or items being transferred, notary, purchase price, and date of sale. The signatures of the associated individuals taking part in the transaction can then endorse the document to be authenticated by an accredited notary to bind the contract legally.
Why Should I Elect to use a Notarized Bill of Sale?
Not all documents of this nature necessarily require notarization, although it will provide authentication to verify the document after the fact independently. Notary publics perform notarization by witnessing the signature of an agreement, contract, deed, or power of attorney and they are licensed to do so. Taking the extra measure to enlist a notary to oversee endorsement of the form will further enforce the agreement. Contracting a notary to supervise the performance of the bill of sale can usually be carried out at a local bank or credit union or by performing an online search for area notaries. Keep in mind, a small fee typically between $5-15 is usually requested to manage the transaction to attribute to licensure upkeep and expense.
Protection for Both the Buyer and Seller
Endorsing a notarized bill of sale is the equivalent of swearing under oath in a court of law and attesting to the truth therein. This provides additional confirmation of its authenticity as it is being confirmed in the presence of a licensed neutral party. Valid photo identification must be presented before the documents are signed as a precaution to prevent against any fraudulent transaction or sale of stolen property.
Assurance that Both Parties Understand and Agree to the Terms
When executing the document, the notary will take into account whether the individuals engaging in the agreement understand what they are testifying to. Taking the extra step to commission a notary provides a further level of legitimacy to the implementation of the form because consideration is made to ensure the involved parties have the mental capacity to finalize. They also will assess if there are any signs of coercion or if they are signing under their own free will.
Confidence in Proper Completion of Forms and Endorsements
In addition, if there are any questions regarding how the form should be filled, an experienced notary can walk you through the process. Although the bill of sale form is a straightforward agreement, in the case that there are special circumstances involved in the sale, the notary official should be able to clear up any uncertainty. Once the seller and buyer have agreed to, completed and signed the form the notary would inspect, endorse and attach their official stamp to the bottom section of the paperwork.
Complete the Notarized Bill of Sale Form
Step 1 – First, download the Adobe PDF file and complete the form as follows:
Step 2 – Seller Information – The first two lines of the form correspond to the name of the seller and the seller’s address, you can fill them in respectively.
Step 3 – In the next blank space, input the purchase price of the item involved in the sale.
Step 4 – Buyer Information – Fill in the next two lines with the name of the buyer followed by the buyer’s residence address.
Step 5 – In the lines appearing below the buyer information, describe the item being sold in detail, including any identifying marks, serial numbers, or defects.
Step 6 – Once in the presence of an official notary public, the buyer and seller can endorse, print and date the document under the instruction of the notary.
Step 7 – The notary can then complete the final portion of the form to the specifications required by the governing laws of their state of licensure and include the following:
- County of License
- Notary’s Printed Name
- Seller’s Printed Name
- Notary’s Signature
- Notary’s Printed Name
- Notary’s Commission Expiration Date
- Affixed Notary Seal