The best way to buy and sell a boat is to formalize your transaction
with our free boat bill of sale, which will give both buyer and seller peace of mind.
Yacht brokers normally only handle large boats, so to buy or sell a smaller boat privately is often the only way to go.
It can be easy - explore our boat buying tips, then download your free boat bill of sale and Get it in Writing!
A private sale can benefit both buyer and seller since the profit (and some taxes) of a broker or dealership does not come into play. Dealers also will not be keen on trade-ins off-season because it will take them a long time to re-sell the boat.
An important aspect when you buy and sell a boat is to establish whether the boat has ever been fined. A boat is an independent entity so all its fines are carried over to the new owner.
Any environmental damages to coral reefs etc. caused by the boat can carry very heavy fines. You can check the history of a boat to verify that there are no environmental liens outstanding.
You need to ascertain - and get this in writing feom the seller! - that the boat is sold "free of any encumbrances".
Encumbrances can be: outstanding mooring fees, money owed to a finance institution, the boat is serving as security against a loan, there's money owed to a boatyard etc.
The seller should also provide proof (title documentation) that he/she is the legal owner of the boat. And if you are not dealing with the owner directly, an agent must provide proof of ownership and power of attorney to execute the transaction on behalf of an owner.
You can download your free bill of sale by clicking on the following links right now but do take some time and explore the useful tips on how to buy and sell a boat.
Free Boat Legal Templates and Related Information:
Whether you are buying or selling a boat, do your research and find the market price for a similar make and model. Explore local or internet classifieds or the Nadaguides.
When you buy or sell a boat privately, an added advantage will be the extras that come with it, which a new boat may not have!
A boat cover, depth finder, marine radio, life jackets, speed control, water skis, anchor, emergency flares, life raft and the all important trailer can make the purchase more attractive to the buyer and assist the seller in realizing a better price for his boat.
Your written agreement should be very clear on exactly what is included in the inventory when you buy and sell a boat.
The best time to sell a boat will be at the start of summer when the demand is high and conversely the best time to buy will be off-season.
Relevant Government Sites