What info Do I need to collect from seller when I am the buyer.

[madstacks]

Good afternoon - I have tried googling this but to no avail, I am hoping I can get some advice on this.

I am a self employed trader, I sell online and I am currently in a partnership. I am very much under the threshold for VAT registration requirement (not even close)

I have recently acquired some business space inside a trading center or "emporium" as they are often referred to.

As well as selling I would like to offer to buy items from the public for cash.

So my question is what details do I need to record from the seller (public selling, me the buyer)

I had thought about making up some kind of sales receipt...

Make the seller aware that items may be scraped or auctioned of and they would be unlikely to be able to rebuy, make the seller confirm their name and that the items are owned by them and they have 100% of the rights of ownership to sell them. make a note of the item and price I paid. Have a tick box for the seller to tick to tick to agree they have been shown the terms of sale and agree. And have them date and sign.

Would this be suitable and sufficient should any issues arise down the line? Is this overkill? Is this Legal? Is there anything missing that I need?

I just want to be sure I do things correctly from the start.

Thank you for any help and advice!

[echat11]

Hi Madstacks

That sounds sensible, I think you will learn as you go along, I'm an 'awful' shopper. When I buy something, regardless of value, I think about 'what if something goes wrong'. That helps me decide who to buy from.

a) You could add, 'that the item purchased must be complete',

b) With technology, you could take pictures of the items you buy and before you sell, it would help with potential disputes (they can't say the item wasn't in good condition).

c) You could head off legal claims, find a ADR Scheme that you could use. In the event of a Dispute, I am happy to resolve the matter through XXXXX scheme.