a motorcycle bill of sale is an agreement that allows an individual to buy and hold a receipt after the transaction of a motorcycle, both of which are required for titling and registration. if there be an inspection request, it must be completed prior to the completion of the sale. this form serves as a legal record of the sale, gift, or transaction of a motorcycle. some states and territories may require a notarized motorcycle bill of sale before they will even begin title transfer paperwork (which you’ll also need to be the official owner of the motorcycle). after a potential buyer is found, it’s recommended to negotiate the terms of the sale and sign a legally binding contract through the use of a bill of sale. after the transaction is complete, the buyer will need the bill of sale in order to register in their respective state. after washing the bike, it’s best to wax any visible finish with a traditional wax.
the best way to figure out how much a motorcycle is worth is by finding similar bikes that are for sale in your area and compare or by using a price estimator that can be found online. when listing the motorcycle for sale, it’s best to have it in front of as many eyes as possible. this will involve the seller taking photos of the bike and gathering all necessary information that can be used in the marketing and promotional materials. the motorcycle should be in “showroom” condition which means it should be looking as best it can be for its current condition. if a verbal agreement is made then the terms of the transaction may be finalized through the motorcycle bill of sale. the seller will need to have the motorcycle’s title, registration, and both the buyer and seller will need to input the details into the bill of sale. after the exchange of possession has taken place it’s time to finalize the bill of sale. please be aware that our agents are not licensed attorneys and cannot address legal questions.
proper documentation of the sale of your motorcycle is essential to proving ownership and producing evidence of set purchase price for tax purposes. you can even take the bike apart to ensure a deep clean in hard to reach surfaces under plastics, in and around dials, spokes and wiring components. you will want to lay the groundwork to have the bike in the best possible working condition before you are ready to sell, to maintain an edge when it comes time to negotiate. replace worn-out and broken parts at your expense, it may be worth it in the long run and will be easier to recoup when it comes time to sell than a bike sold in “as is” condition. once you have determined what you believe the bike is worth, consider what you are willing to take for it and narrow down what your prepared firm price would be.
when it comes time to list the bike, create a thorough description. there are an array of online classifieds to promote the sale, craigslist, ebay, cycle trader, and facebook marketplace to name a few. when responding to interested parties suggest arranging to meet in a public place to showcase the motorcycle. in the case, a potential buyer requests to test ride, always ask for collateral identification and perhaps the cash amount of the asking price. after an agreement on purchase price has been met, you can complete the bill of sale, exchange the payment, and take the plates and registration. step 8 – instruct any designated witnesses to observe the endorsements of the buyer and seller and then provide their signatures to the document along with a printed name following each signature.
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