Rule 14: Get it in writing

Insist that people put their offer in writing to you. Make sure that everything is covered.

Here are some questions to be considered:

1. When is the unit going to be available?
2. When will they be there to pick it up?
3. When will they pay for the unit?
4. What will the deposit be? When will they pay it?
5. What special deinstallation requirements or considerations unique to your site must be taken into account?
6. What happens if they do not show up?
7. What happens to their deposit if they do not show up?
8. Do they agree to provide you with a certificate of insurance?
9. Who is responsible for construction?

While these are some of the major things to document, every transaction is a bit different.Include any special considerations that must be addressed. The Buyer is going to have his own considerations and you must be open to them.

Developing this agreement is very important because it avoids confusion. If you sell wholesale then, they will provide an agreement.

In my experience, more than 60% of the problems I have seen crop up when selling used equipment have to do with the logistics centered around removal. Most of those have to do with misunderstandings and that is why it is crucial to get it in writing every time!