Purchase Agreement Template
A simple and balanced agreement for the one-time sale of a specific asset between two parties. Ideal for freelancers and small businesses buying or selling equipment.
Preview
How to use this template
- Fill in the details for both parties and the item being sold.
- Review the terms and select the condition of the item.
- Download the document as a PDF or copy the text.
- Sign the agreement with the other party to make it binding.
When to use this template
Use a purchase agreement for a one-time purchase of a specific item: a used vehicle, a machine, equipment or a batch of inventory. It records the price, the condition and the handover, and that the seller is entitled to sell.
It is not meant for buying real estate or a company. Those transactions need a specific contract and professional advice.
Check before you sign
- The item is described precisely, with serial number, VIN or other identifiers.
- You know whether the item is sold as is or with a promise about its condition.
- The seller has confirmed there are no loans, liens or other claims on the item.
- Payment and handover happen together, so neither side carries the risk.
- You know what is needed to register the change of ownership, if anything.
Full text of the purchase agreement template
This is the complete template. Words in [brackets] are filled in automatically when you use the form above; where the template has options, the form shows only the one you choose.
PURCHASE AGREEMENT
1. Parties and Purchase
This Purchase Agreement is made on [Effective date] between:
Seller: [Seller name], located at [Seller address]
Buyer: [Buyer name], located at [Buyer address]
The Seller agrees to sell, and the Buyer agrees to buy, the following item: [Item being purchased].
2. Purchase Price
The total purchase price for the item is [Purchase price] [Currency]. This amount shall be paid by the Buyer using [Payment method] on or before the date of handover.
3. Ownership and Title
The Seller confirms that they are the lawful owner of the item and have the full legal right to sell it. The Seller guarantees that the item is free from any liens, debts, or third-party claims, except as disclosed to the Buyer in writing.
4. Condition of Item
If you choose: Sold as is
The Buyer acknowledges that they have inspected the item and accept it in its current state, 'as is'. The Seller makes no warranties regarding the item's condition to the extent permitted by law.
If you choose: Seller confirms it works and has no known defects
The Seller confirms that the item is in good working order. The Seller represents that they are unaware of any material defects other than those specifically disclosed to the Buyer in writing.
5. Handover and Transfer
The handover of the item will take place on [Handover date]. Ownership and the risk of loss or damage pass from the Seller to the Buyer at the moment of handover, provided full payment has been received.
At the time of handover, the Seller will provide all keys, manuals, titles, and any other documentation necessary for the Buyer to register the transfer of ownership.
6. Taxes and Registration
Each party is responsible for paying their own taxes arising from this transaction. The Buyer is solely responsible for any registration fees or legal requirements needed to transfer the item into their name.
7. Disclosure
The Seller confirms that they have disclosed all known material defects regarding the item to the Buyer prior to the signing of this agreement.
8. Governing Law
This agreement shall be governed by and interpreted in accordance with the laws of [Governing law].
9. General Terms
This document constitutes the entire agreement between the parties and replaces any prior oral or written understandings. Any changes to this agreement must be made in writing and signed by both parties.
If any part of this contract is found to be unenforceable, the remaining sections will continue to be valid and in full effect.
Signatures
Seller
Signature: ____________________
Name and title: ____________________
Date: ____________________
Buyer
Signature: ____________________
Name and title: ____________________
Date: ____________________
Frequently asked questions
What is this contract for?
This agreement is designed for the one-time sale of a physical asset, such as machinery, a vehicle, or a lot of inventory. It is not intended for real estate or the sale of an entire company.
What details should I include?
Be as specific as possible when describing the item, including serial numbers, model years, or unique identifiers to avoid any confusion about what is being sold.
Is this template legally binding?
This document can become legally binding once signed by both parties. However, it is a general template and not legal advice; you should have a lawyer review it for your specific situation and jurisdiction.
What does 'as is' mean in this contract?
An 'as is' sale means the buyer accepts the item in its current state, and the seller provides no guarantees about its quality or condition. If you are buying real estate or a business, you need a specialized contract and professional legal advice.
Can I edit the text of the agreement?
Yes. Once you download or copy the text, you can modify any clause to better suit your specific business needs or local requirements.
Is my data stored on your servers?
No. All information you enter into the template stays in your browser and is not stored or transmitted to our servers.
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