A Livestock Bill of Sale Form is a printable document that certifies transfer of ownership of any farm animals under the authorization of one or two witnesses and a notary public.
Prior to committing to the transaction, the buyer is expected to inspect the health of the animals in question or hire a 3rd party vet to conduct the exercise. While a livestock bill of sale form typically allows sale certification of up to 9 livestock, it is also applicable in transactions involving only one animal.
The main purpose of the form is to prove that the buying process was successful. It clearly notes details of the parties involved and when they completed transacting. The form, which is required for both private sales and auctions, provides legal protection for both parties.
Some of the common animals whose sale calls for a livestock bill of sale form include cows, pigs, chickens, horses, sheep, llamas, goats, donkeys, mules, camels, and even buffalos.
How to Sell Livestock
Selling livestock can be a lucrative business for a farm if everything from breed selection and feeding to selling is done right. Animal sales pretty much follow the same conventional pattern as any other asset. However, suppose we assume your farm is a business that capitalizes on making animal sales. In that case, it is safe to say that you are looking to fetch the highest price for your animal while the buyer is looking to own a healthy animal at the lowest price possible.
You can facilitate the smoothness of making livestock sales by following these steps:
Determine the value of the animal
A number of factors blend to determine how much livestock is worth. Primarily you have to look at your production cycle data to see how much of a profit you can make. But your price tag has to compare to the standard market price in the area you are looking to market. Luckily, you can easily look up the average selling price of the specific breed on local listings. You can also ask other local farms to disclose how much they have recently sold their livestock.
Other factors to bring into the picture while calculating your price tag include the type of animal, weight, breed, health status, class, overall purpose, sex, and age. It also helps to consider the urgency you want to get rid of the livestock in the subject.
Stage a promising advertisement
After you have found a comfortable price tag for your animals, it is time to let potential customers know of your intention. The energy you put into your advertising campaign could mean the difference between selling almost instantly and failing to land a buyer for a long time. Luckily the internet offers working solutions to any business, including farming. You can publish your ads on various livestock listing websites such as Farmacia, Livestock, and Farms. The advert should feature vital information about the livestock, such as breed, age, and health status. Most importantly, it must have clear and recent pictures of the animal for potential buyers to see.
Other than online platforms, you can explore traditional marketing methods like placing posters on local feed yards and advertising in local community-driven farming events.
Prepare the animals for sale
A potential buyer would get in touch with you in no time if you did everything right. At this stage, you can not afford to disappoint the client during the meeting day.
The following tips will help you prepare for the D-day and put you in a better position to close the deal:
- Ensure that the animal is well-fed
- Clean and groom them to ensure they look superb and healthy
- Collect all the paperwork related to the animal, including livestock vaccination and registration documents
- Obtain copies of the livestock bill of sale form for filling by both you and the buyer.
- Prepare any equipment that you included as part of the deal. This could be anything from feeding equipment, spraying pumps to chaff cutters.
Execute the sale
Often a buyer will arrive at your farm with a third party to examine the animal and give the go-ahead. If your buyer visits you and likes what they see, you can proceed to negotiate and hopefully find a balance. It is natural for the buyer to point out defects, however vague, in a bid to bring the price down, but the decision to sell or reject their offer lies with you. However, you can reduce the chances of downplaying by the buyer by crafting an honest advert that highlights the downsides of the animal in question.
After you reach an agreement, you can go ahead to discuss the best way to receive funds. Standard payment methods include checks (certified or cashier), cash, or electronic means like PayPal and direct bank transfer. Once the payment has been made, prepare copies of the livestock bill of sale form for both you and the buyer. Only then is the deal said to be complete. Based on the relationship with your buyer at this juncture, you might decide to meet the transport costs to show courtesy and give them an incentive to do more business with you in the future.
What is a Livestock Bill of Sale Form?
A livestock bill of sale form is a document that shows you have legally sold and transferred ownership of animals to another person. Basically, it is a lawful receipt for animal sales that could protect you if anything were to happen after the deal’s closure. The form identifies both the owner and the new owner and provides detailed information about the livestock sold. Writing a livestock bill of sale is uncomplicated, given the vast number of downloadable livestock bill of sale templates available here.
How to Write the Livestock Bill of Sale Form
Use the following procedure to prepare a livestock bill of sale form:
Indicate the dates associated with the transaction
You are required to fill in the date when the livestock bill of sale is filled and when the actual transfer of cash and livestock occurred.
Add personal details of both parties
The personal details of the seller and buyer include the names, physical address, city, state, zip code, and contact information.
Capture information about the livestock
This section indicates the complete information of each animal involved in the transaction as follows:
- Number- captures the unique identity of the animal in question. This could be a tattoo, tag, electronic device, and leg band, to name a few.
- Kind- holds information of the type of livestock involved in the sale, for example, sheep, cow, and camel.
- Brand– an animal body part that is tagged for unique identification
- Age- how old the animal is at the time of the sale. It could be days, months, or years
- Sex- whether the animal in question is female or male
- Weight- defines how heavy the animal weighs. Use units relative to your location
- Notes- this part holds any other details about the animal, for example, the number of times a heifer has given birth.
Highlight the terms of sale
Here is where you indicate that the buyer has agreed to buy the animal for a specific amount (US Dollar) of money, as earlier discussed. The section also tells the date of sale and method of payment used.
From the date when the agreement is reached to the date of closure of the deal, the buyer reserves the right to inspect the animals in question as they may wish. If by any chance, they unveil a problem that had not been considered, they can choose to withdraw from the deal. In such a case, the seller would have to refund any money that had been issued as a deposit. After that, however, the two parties could go back to the discussion phase to factor in the new discoveries.
Sign the bill
Both the buyer and the seller commit to the livestock bill of sale by signing. If any witnesses are involved in the deal, they must sign as well. A complete signing involves a name, actual sign, and date. These details can be filled in electronically or by hand.
To further officiate the livestock bill of sale form, a section is to be filled by a notary public upon verification of the signatures provided by the seller and the buyer.
Related: Notarized Bill of Sale Forms
The Best Practices for Selling Livestock
Selling livestock calls for special attention in order to run successfully.
Here are a few practices that can help you realize more success as far as selling animals goes:
- Remain honest and only include accurate, precise information of the animals
- Research well in order to stage competitive prices, but keep your lowest price in mind
- Ask a vet to check the animals before starting the selling process
- Take excellent photos of the animal from different angles
- Reconstruct and renew your advertisements on online platforms if no offers are made
- Avoid exaggerating animal information in your adverts
- Don’t be tempted to sell sick or old livestock
- Avoid selling to questionable buyers with no knowledge, space, or necessary equipment for rearing the animals.
- Before a visit by a potential buyer, ensure your farm space is clean and presentable.
- Come up with a sales sheet of available animals for sale. This will give options to the buyer, even if they don’t like the listed animal.
- Never forget to involve a livestock bill of sale form for both you and the buyer to keep.
Following is a free downloadable livestock bill of sale template:
Having an officiated livestock bill of sale form as a receipt can protect you from legal sues and unprecedented turn of events. While signing in the presence of witnesses is optional, witnesses are an excellent way to foster verification of the selling process. Always uphold honesty in order to drive a smooth transaction process. All in all, remember that satisfied customers are the gateway to more business.