Documentation

To ensure a smooth transaction, sellers should provide documentation to support material claims. Documents will vary from one transaction to another, but some items to consider are the following.

Vehicles

Title
The primary document in any vehicle sale is the title. Inspect the title to ensure the vehicle is free of any liens – claims by a bank or other lender – and see whether the vehicle carries a salvage status, indicating that the vehicle has been previously refurbished. The title also needs to be legible and in good condition as some states will not accept a paper that is excessively worn or damaged. NEVER buy a vehicle that doesn’t have a title. Such a vehicle cannot be registered with your state’s DMV and are ineligible for resale.

Bill of Sale

A bill of sale identifies all parties in the transaction, the VIN (vehicle identification number) and the sale price of the vehicle. It may also contain warranty information, if there is any. Most DMVs will require a bill of sale to verify basic information, including sale price, which is used to calculate sales tax. Create a bill of sale for free using our Bill of Sale wizard.

Bill of Lading
A bill of lading is acknowledgment from the shipper that they have taken possession of the seller’s vehicle. In many cases, this is the documentation that buyers will wish to see before releasing escrow funds. We recommend uploading a scan of the bill of lading so that all parties are kept in the loop.

Livestock

  • Bill of Lading
  • Purchase Agreement or Bill of Sale

Whether strangers or the best of friends, the buyer and seller should always draw up a purchase agreement or bill of sale for private treaty livestock sales.  It should detail breed, head count and sale price, any claims or warranties, and when the seller should expect payment. Create a bill of sale for free using our Bill of Sale wizard.

Commercial Goods

  • Title
  • Bill of Sale
  • Purchase Agreement
  • Bill of Lading
  • Inspections Documents

In the case of used commercial equipment such as restaurant appliances or manufacturing components, inspection documents should be included. Be sure to ask about the number of years of regular use the equipment experienced.

Artwork & Collectables

  • Purchase Agreement or Bill of Sale
  • Bill of Lading
  • Certificate of Authenticity

When purchasing collectables or artwork, it is not uncommon for buyers to request a certificate of authenticity. Such a document will contain information reinforcing claims regarding the item’s value, such as whether the piece is original or a reproduction, the medium in which it was created, or if it is part of a series or one of a kind.

Domain Names

  • Purchase Agreement or Bill of Sale
  • EPP Code

When purchasing a domain name, the buyer will receive the EPP or auth-code from the seller. This code is unique to each URL and identifies the domain name registrant. It is also known as an authorization code, auth-info code, a transfer key, a transfer secret, an EPP code, EPP authentication code, or EPP authorization code.

Ready to give PaySAFE® a try? Get started today!

Everything you need to know about the PaySAFE® process.