Sell Your Property Worry-Free With a Conditional Sales Contract
Conditional sales contracts are a safe way to trade, with benefits for both agreeing parties. Are you selling something and need a custom contract that protects both signees? If you don’t feel confident enough to make your own contract—say no more! DoNotPay delivers up-to-date information on what a conditional sales contract is and how to make it without hiring expensive lawyers!
In an ocean of legal documents, a conditional sales contract stands out. It gives the buyer possession rights to the purchased property, but there’s a twist. The seller keeps the repossession rights and the ownership title over said property and transfers property ownership only after the buyer pays the entire agreed amount.
In short, the contract protects the seller, acts as written proof of sale, and coerces the buyer to fulfill their part of the contract. While it protects the seller, this contract allows more time and a more affordable way for the buyer to purchase the property. Conditional sales contracts are mostly used for the sale of:
With so many different sales contracts to choose from, how can you know if a conditional sales contract is the right choice for you? Ask yourself the following questions:
- Is the property you’re selling of great value?
- Are you okay with the buyer having more flexible payment options and schedules?
- Are you unsure about the buyer’s payment reliability?
- Do you want to protect yourself in case of a contract breach?
If you answer ‘yes’ to all these questions, you should opt for this type of contract.
When hiring a lawyer is too much for your budget—DoNotPay saves the day! With our Legal Documents feature, we will help you make as many documents as you need. All you need to do is:
- Open DoNotPay in your web browser
- Type in the name of the document you need
- Answer the questions with relevant information about your document
That’s it—your document will be ready in a few moments. Download, fax, or print it, and you’re good to go! DoNotPay can also help you get any document notarized, including your conditional sales contract.
Whether it’s a matter of family, finances, or business, we can help you make a variety of legal documents, including:
Making a conditional sales contract by yourself is risky. Lawyers are expensive, but if you want to save some bucks, you’ll need to learn a lot about local laws and regulations. Downloading a pre-made template won’t do you any good because the terms that work for one seller might not work for you.
Any mistake or omittance of important terms and clauses can cost you your compensation in case of a contract breach or property damage. A contract missing the right terms and clauses is a void contract and can lead to loss of ownership rights of the property you sold or bought.
Drafting documents on your own can be tricky, but it’s not impossible if you tread carefully. Here are the core elements you must include for a valid and well-written conditional sales contract:
- Property information
- Property condition description
- Location at the time of purchase
- Nature of said property
- Property quantity
- Important dates
- The effective date of sale
- Date of title transfer if conditions are met
- Payment information
- All monetary amounts
- All payment types (check, credit card, debit card, cash, etc.)
- Information about the contract signees
- Date of delivery
- Delivery method
- All recovery procedures in case of contract breach
If the buyer fails to pay their installments, the seller can either seize the property or sue them for the unpaid balance. The seller can seize the goods without going to court if the buyer signs a quitclaim. This document allows the transfer of property without title transfer.
If the buyer didn’t sign a quitclaim, the seller might need to take more serious action. In case the other party breaches your conditional sales contract, you can sue them in small claims court.
DoNotPay received the Brown Award for Legal Access because we help people get their justice. If push comes to shove and you take the breach to court, our app will be the perfect assistant and guide you through the process with no fuss.
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You can forget all about waiting in line at the DMV and being on hold with customer service—we will get you to the finish line in a few clicks. Tired of the old snail mail? Use DoNotPay to mail letters fast. Better yet—fax your documents using our app. If your document requires a notary’s signature, we can assist you in scheduling a virtual appointment.