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Understanding the Manufacturer's Invoice [HUD]: A Legal Overview
Definition & meaning
A manufacturer's invoice is a document provided by a manufacturer of manufactured homes to a retail dealer. It details the wholesale prices for specific models or series of manufactured homes, including itemized options such as large appliances and built-in equipment. The invoice also lists actual freight charges from the factory to the dealer's lot, any rental fees for wheels and axles, and applicable sales taxes. This document serves to certify the accuracy of these prices and charges, ensuring they reflect the actual dealer costs at the factory.
Table of content
Legal use & context
The manufacturer's invoice is primarily used in the context of property improvement and manufactured home loans. It is essential for transactions involving the sale of manufactured homes, as it provides a clear breakdown of costs and serves as a legal document for financial institutions and buyers. Users may benefit from legal templates available through US Legal Forms to ensure compliance with regulations surrounding these transactions.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A manufactured home dealer receives an invoice from the manufacturer that lists the base price of a home at $50,000, with an additional $5,000 for appliances and $2,000 for freight. This invoice is used to finalize the sale with a customer.
Example 2: A dealer notices that the manufacturer's invoice does not include any undisclosed rebates or incentives, ensuring transparency in the transaction (hypothetical example).
Specific regulations on sales tax inclusion in invoices.
Florida
Mandates that all itemized charges be clearly stated.
This is not a complete list. State laws vary and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Key Differences
Bill of Sale
A document that transfers ownership of an item from seller to buyer.
Focuses on ownership transfer rather than pricing details.
Purchase Order
A document issued by a buyer to a seller indicating the products or services they wish to purchase.
Used before the sale; does not certify costs like a manufacturer's invoice.
Common misunderstandings
What to do if this term applies to you
If you are involved in a transaction that requires a manufacturer's invoice, ensure you receive a complete and accurate document from the manufacturer. Review it carefully for itemized charges and certifications. If you need assistance, consider using US Legal Forms for templates that can help you manage the process efficiently. For complex situations, consulting a legal professional may be necessary.
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