A Bill of Sale should only be used for "as-is" purchases, when payment in full will be made once the item is exchanged. It expressly disclaims any warranties that relate to the quality or fitness of the product.
The next thing to remember is that your bill of sale template must specify the financial details of the transaction. Upon viewing the form, one should easily be able to tell how much the property was sold for and when it was sold. If there is sales tax involved, this should be noted as well; moreover, the method of payment (such as cash) should be clearly indicated in the template. Any bill of sale template, free or otherwise, ought to include these elements.
A Bill of Sale is a form that a seller uses to document the sale of an item to a buyer. It serves as a receipt for personal sales and purchases and includes buyer and seller information and details about the goods, its location, and the price. Both parties should fill out and retain a copy of the signed Bill of Sale as a proof of purchase or as a proof of payment.
This is especially true for the buyer, as it is usually the seller who has composed the bill of sale (or hired someone else to compose it). Therefore, while both the buyer and the seller must consider the terms of the sale very carefully, it is especially important for the buyer to understand the legal considerations of the bill of sale.