This is the fun part – look at different boats to find one that suits your needs and budget. No one wants to pay too much for a boat, so how can you get a good idea of its value? The right documents can make it easier to sell a used boat and avoid surprises, says boatUS. Whether you are buying a new or used boat, the best way to protect your interests is to state the terms of the sale in writing. These friends of the boat share the cost of maintenance and share the tasks of the captain – while maintaining a close friendship after 25 years. In some states, a boat sale may not be necessary to close the sale, but using one is a good idea because it provides proof of the details of the transaction. If the boat has title, which is generally required in most states for boats over 16 feet, that title must always be transferred from the seller to the buyer in accordance with state regulations. Purchase contracts or contracts should include the following minimum information: Yes, people do it all the time. Admire the boat in person and inspect it from bow to stern. If you absolutely can`t do it yourself, find a friend or hire someone who can. Check out this article to learn more about long-distance boat purchases. It`s easy to think that after spending several thousand dollars on a boat, a few hundred extra dollars spent on a condition and evaluation (C&V) and a sea trial seem too much, especially if you don`t need a survey for insurance or financing.

But consider this: A large portion of the complaints BoatUS has received from private buyers of used boats come from members who have not had a marine survey or sample. The motor is the most common problem with a used boat, and engines are usually the most expensive component, often accounting for half or more of its value. An investigation is cheaper than a replacement engine – or a repair with an angry spouse. If a trailer is sold by boat, it will also be listed separately with its Vehicle Identification Number (VIN). The agreement should indicate a separate selling price for the vessel, outboard engine and trailer. The agreement should also list all accessories or equipment sold by boat, such as electronics, trolling engine, spare accessories, with serial numbers if available. If you sell the boat, items that are not included in the sale may be listed as “excluded” in the purchase agreement. Don`t sign the check yet! Find the HIN in the upper part of the starboard side of the transomer and make sure it matches both the recording and the title.

If this does not match exactly, there could at least be problems in renewing the boat. In addition, you will learn about the boat and its behavior during an investigation and test at sea. This is beneficial, whether you are new to boating or increasing in size, complexity or cost. Another advantage of an investigation and sea trial is that the contract price can be renegotiated or you can withdraw from the company if problems arise with the right purchase contract. Owning a boat may be a lifelong commitment for some, but trading former creditors for a ship that better suits your current lifestyle can keep you in boating. A written agreement eliminates or minimizes issues and problems that could later turn an agreement in the dock into a sour agreement in court. By defining the obligations of the buyer and seller, as well as the period within which the sale must take place, you have a legally binding written document of the intentions of the parties. BoatUS` Consumer Protection Office offers a dispute resolution service, the only national database of boat complaints, and provides consumer-focused information to help boaters make smart purchasing decisions. For more information, see BoatUS.com/consumer. “A purchase agreement is required if you intend to purchase a boat, but you need to do certain things before accepting the boat, such as a satisfactory sea survey, specific repairs, and the ability to finance or insure the boat,” said Charles Fort, BoatUS` director of consumer protection.

“It also describes the obligations of both parties. Once a buyer accepts the boat, the purchase contract is used as proof of purchase. You can download and print both forms 24 hours a day. The contract for the purchase of the boat may be concluded before the sale is final, usually with a down payment, with contingencies that may include obtaining financing, or the boat passes a mechanical inspection, an inspection at sea or a test at sea. If problems arise, e.B. a repair that should be made, these conditions can be negotiated and set out in a new agreement, or the buyer can get away with a refundable deposit. The use of a formal boat purchase contract protects both the buyer and the seller and goes a long way in avoiding misunderstandings between the parties. The title of the boat lists all the privileges on the ship. B for example a bank loan that must be repaid to transfer the title.

If there is a loan, you want a statement in the purchase agreement that requires the seller to repay the loan within a certain period of time after the sale. Better yet, you may be able to meet at a local bank that has the privilege and have it released locally. If you are not completely satisfied with the seller`s ability to sell the boat, walk away. If your state does not require or offer the use of a particular form, you may be able to use a generic boat purchase agreement as proposed by: The HIN must be permanently marked on vessel traffic to the port.. .