Down Payment Receipt Template

How to Write a Down Payment Receipt?

Follow these guidelines to compose a Receipt for Down Payment:

1. Indicate the details that will identify the document - there must be a date and location specifying when and where the transaction takes place. If this is not the first or the last similar receipt issued by the seller (which is often the case with car dealers and real estate managers), it is recommended to assign a number to a document to be able to distinguish it from other receipts and maintain reliable records outlining the particulars of every transaction.
2. State the names and physical addresses of the parties - the seller and the buyer. In case either of the parties is a private individual, you may want to enter their driver's license number to facilitate identification.
3. Describe what property is being sold. For instance, a Vehicle Down Payment Receipt will point out the make, model, color, and identification number of the car as well as its odometer reading and modifications the previous owner may have made.
4. Confirm the document verifies the receipt of a certain sum of money that is going to count as a part of the total price of the property. Specify the method of payment and refer to the full selling price. The receipt should also certify whether the money can be returned to the purchaser if the deal falls through.
5. While it is not required, the parties may want to negotiate and agree upon a payment schedule already - explain when the purchaser is going to provide regular payments for the item in question or when they are able to pay a lump sum to finalize the transaction. Alternatively, these details may be included in the text of the main agreement the seller and the buyer sign later.
6. Sign the receipt. It has to contain the signature of the seller or their legal representative - the purchaser, on the other hand, is not obliged to sign the papers. If you want to protect the transaction, you may obtain a notary seal for the receipt which makes sense when the property in question is expensive and the down payment is quite large.

Still looking for a particular template? Take a look at the related templates below:

• Business Receipt Template;
• Refund Receipt Template;
• Cash Receipt Template.