What is an as-is bill of sale?
Learn about an absolute, no-warranty bill of sale.
A bill of sale certifies the transfer of ownership between a seller and a buyer, freeing a seller of liability and proving the buyer’s ownership. It’s typically used for major purchases, like vehicles, and is necessary for obtaining a vehicle title.
There are several different types of bills for sale, including as-is, conditional, quitclaim, and bill of sale with warranty (the standard). Learn more about an as-is bill of sale and what you should know as a buyer or a seller.
As-is bill of sale: information for buyers.
An as-is, absolute, or no-warranty bill of sale means that you agree to purchase an item outright, exactly as is, with all its faults, clear or hidden. This is a risky move for big purchases. Why? Say you buy a $30,000 car that appears to be in mint condition — but underneath the hood are several expensive problems just waiting to surface. When your new car breaks down in the middle of the highway, you have no legal recourse since you agreed to the seller’s as-is terms.
However, an absolute bill of sale also gives you complete and immediate ownership of the item, barring the seller for making any further demands. This type of bill of sale is a good option if you’re confident in your purchase, can pay in full, and seek swift and concrete legal ownership.
As-is bill of sale: information for sellers.
As a seller, an as-is bill of sale is a good option if you’re selling a used item. It shelters you from liability, should that item be found faulty or have unforeseen problems — giving you peace of mind, not to mention saving you money.
You, as a seller, are responsible for drafting the bill of sale. You can easily put together an airtight as-is bill of sale, and store, send, and safeguard your transaction. Explore how you can use Acrobat Pro DC with e-sign to build your as-is bill of sale and facilitate a seamless process.