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A general bill of sale should include the following information: Purchase price. Date of sale. Buyer's and seller's contact information. Signatures.
The bill of sale should contain identifying information about the buyer and the seller, a description of the vehicle, and the terms of the purchase.
Yes, an As-Is Bill of Sale is a legally binding contract when properly executed.
If you do not qualify for a ?gift? tax exemption, please provide a proof of purchase price, such as a buyer's order, bill of sale or the seller's declared sale price. The bill of sale can be a handwritten statement signed by the seller and purchaser or a Vehicle Price Certification signed by the seller or purchaser.
Unlike many other states, Virginia does not require a bill of sale to sell your car. That being said, a bill of sale is a legal record that proves the transaction was carried out. Therefore, it's suggested that a bill of sale is created for the benefit of both the buyer and the seller.
Legally, the Virginia DMV does not require private sellers to have a bill of sale, but most private sellers use one as a best practice. It wouldn't hurt to have such document notarized as well.
General Bill of Sale A general bill of sale should include the following information: Purchase price. Date of sale. Buyer's and seller's contact information.