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#2158387 - 09/27/13 03:02 AM sale agreement
eventhorizon Offline
Junior Member

Registered: 08/12/13
Posts: 9
Loc: California, U.S.
Are written sale agreements between seller and buyer common/advisable in private sale situations in the U.S.? If so, what should they specify? Please post a sample if available.

Thanks.

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Hailun / Pearl River Pianos

 

Pearl River World's Best Selling Piano
#2158400 - 09/27/13 04:09 AM Re: sale agreement [Re: eventhorizon]
wimpiano Online   content
1000 Post Club Member

Registered: 09/16/13
Posts: 1999
Loc: The Netherlands
In any case is a written sales agreement advisable (for any type of good). Here in Europe it is comman and I can't imagine it being any different in the US.
It should imho state at least:

Who buys, who sells.

The good to be delivered, in what condition and what is included and what not.

The price for which it is bought.

The responsibilities of the seller regarding the state of the good such at moment of delivery (For instance things that need to be repaired/prepared before delivery).

The responsibilities of the seller after delivery (such as warranties or buy back options).

When and how delivery should take place and who should pay for delivery.

When and how payment should take place.

Any conditions which will imply that the agreement can be considered as non existent (don't know the exact terms in English, in Dutch however it is very clear ;)).

And whatever you think is worth mentioning.. smile


Edited by wimpiano (09/27/13 06:24 AM)
_________________________
Schimmel 116 S
ABF Recitals: XXXIV - XXXVIII & Schumann Recital .....

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#2158470 - 09/27/13 08:20 AM Re: sale agreement [Re: eventhorizon]
Rickster Offline


Registered: 03/25/06
Posts: 8694
Loc: Georgia, USA
I’ve bought about 7 or 8 or so used pianos from private sellers over the years… (still have 4 of em' smile ). I’ve always went to look at the piano, met the seller in person, discussed a final sales price verbally, and agreed on time frame/method of moving the piano. In all cases, except one, where I paid the seller and came back to move the piano the next day, I always paid the seller and requested a bill of sale when the movers showed up to move the piano; of course, I paid the seller before the movers touched the piano.

Most private sellers/buyers are reasonable and reasonable trust can be developed between the two. I think a sales agreement is advisable, but nothing elaborate is necessary, in my view. You get the piano and bill of sale, and they get the money.

Also, I don’t think it is necessary to have overly binding agreements… I think both buyer and seller have a right to change their mind, until the money and property changes hands; then it’s a done deal.

Good luck!

Rick
_________________________
Piano enthusiast and amateur musician: "Treat others the way you would like to be treated". Yamaha C7. YouTube Channel

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#2158735 - 09/27/13 06:13 PM Re: sale agreement [Re: eventhorizon]
Ed McMorrow, RPT Online   content
2000 Post Club Member

Registered: 12/09/12
Posts: 2852
Loc: Seattle, WA USA
In the US these transactions are "Verbal Contracts". There is considerable state case law, and statutes that apply.

Also terms such as OBO mean that by a certain date any other buyer can come along and bid higher for the item and earn the right of ownership. Something is not considered sold until the money changes hands and possession changes.
_________________________
In a seemingly infinite universe-infinite human creativity is-seemingly possible

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#2158753 - 09/27/13 06:55 PM Re: sale agreement [Re: eventhorizon]
Minnesota Marty Offline

Platinum Supporter until October 5 2014


Registered: 05/15/12
Posts: 7439
Loc: Rochester MN
A purchase contract is very different from a bill of sale. A bill of sale, or receipt, is a dated record of a transaction.

If buying from a private seller, it would be good to have a receipt of the transaction containing the Date, Sales Price, Brand, Style/Model, and Serial Number. In most cases it will be an "as is" transaction. Simple and handwritten is just fine with signatures or initials.

From a dealer all of the above would be included but have the addition of Warranty, additional items such as a D-C system, Bench, etc., and services provided such as delivery, in-home tuning, or any agreed upon services.

_________________________
Marty in Minnesota

It's much easier to bash a Steinway than it is to play one.

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