Guide to Buying a Boat

Guide to Buying a Boat

Guide to buying a boat

By: Patrick Altoft

Buying a second-hand boat has its pitfalls. To help you protect your legal rights and be aware of some of the common issues Noble Marine have produced this guide to buying a boat.
Please note that we have only addressed the legal aspects of the subject and advise that you should also satisfy yourself that the boat is seaworthy before you consider buying.

Looking for a boat?
The Noble Marine boats for sale database has over 3000 boats for sale. Each boat has a desciption and photos of the boat so you can look around before you contact the seller.

Wondering what boat to buy?
In addition to this boat and dinghy buyers guide you may wish to make use of our dinghy database or interactive boat finder where you can compare statistics of over 300 classes and view suggestions on similar classes to the type you are interested in.

Unlike a car there isn’t a legal registration document tracking the ownership, in fact unless you want to take your boat abroad, you are not required to register your boat at all and many people don’t, so checking that the person selling the boat actually owns the boat and that there are no outstanding loans secured on the boat can be difficult.

Before you consider buying a boat you should visit http://www.stolenboats.org.uk to see if the boat for sale, or a similar one, has been reported stolen. If a boat is not listed on the site it doesn’t mean that it is not stolen.

If you buy privately, you won’t be protected legally if the craft has a hidden history or faults. It’s up to you to ask the right questions and to satisfy yourself that the boat is in good condition before you buy.

Buying a used boat is essentially a case of ‘Buyer Beware’. The onus is on you to make sure the craft is sound, it’s a good idea to get an qualified marine surveyor or boat builder to give the craft a thorough inspection.

When viewing a boat you should satisfy yourself that the vendor is knowledgeable about the boat and has a legitimate reason for the sale. Ask yourself whether the price is similar to other boats on the market – if a deal looks too good to be true it probably is. You should always arrange to view the boat at the seller’s home address and never in a car park or other public location.

It is important to check whether the boat has been involved in any accidents or has any large repairs carried out. Most repairs will be guaranteed for 12 months so it is worth finding out the date of the repair and the repairers details in case of any future problems.

Once you are satisfied that the seller is genuine and have agreed an acceptable price you will need to arrange to make payment for the boat. This is usually carried out by bankers draft or a cash payment can be made. Occasionally the seller may be happy to accept another method of payment but you should be willing to use whichever method they suggest.

The only legal terms that cover a private sale contract are:

  • the seller must have the right to sell the craft
  • the craft should not be misrepresented
  • it should match its description

When the sale is complete you should always draw up a buyers contract so that each party can sign and keep a copy. This will act as your purchase receipt and will prove that you are the new owner of the boat.

Noble Marine have prepared a sample buyers contract for use in private boat sales. It is always important to keep the purchase receipt and the previous owners details – you may need to prove ownership or contact the previous seller in the future.

If the vessel was home built or if you are considering buying outside the EEA, you will also need to be aware of the Recreational Craft Directive requirements.

The VAT status of a second hand yacht is also important, as your vessel needs to have VAT paid status to be allowed free transit throughout the EU.

Useful Links:
http://www.stolenboats.org.uk
http://www.noblemarine.co.uk/boatsforsale.php3
http://www.noblemarine.co.uk/dinghydatabase.php3
http://www.noblemarine.co.uk/boatfinder.php3
http://www.noblemarine.co.uk/buyingaboat.php3?section=contract

Author Bio
Patrick Altoft is an insurance expert with Noble Marine – a specialist insurance broker providing boat insurance for most types of pleasure craft. Policies and claims are dealt with in-house, by knowledgeable staff, giving unequalled levels of service.

Article Source: http://www.ArticleGeek.com – Free Website Content

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About Granger Whitelaw

Granger Whitelaw founded the Rocket Racing League along with partner, Peter Diamandis in 2005. See more information at http://www.grangerwhitelaw.com/blog and http://grangerwhitelaw.brandyourself.com View all posts by Granger Whitelaw

13 responses to “Guide to Buying a Boat

  • Miguel Ray

    This is also what I love about buying a boat “Unlike a car there isn’t a legal registration document tracking the ownership, in fact unless you want to take your boat abroad”, and I think some vehicles also does not need registration so it is kind if a hassle free thing, yeah! You don’t have to go every year on the transportation office for renewal and some of other stuff.

  • Polino

    Now since there is no registration for a boat this are really a good information that each of the people who want to buy a boat must know “the seller must have the right to sell the craft, the craft should not be misrepresented, it should match its description”, we have to be very careful in buying a boat and not just a boat but also to some things.

  • Kim Shane

    I understand that it is always important to keep the purchase receipt and the previous owners details because it is really reasonable to do this one because that is your only hold to the one that you are buying and also the one that holds your certificate on your agreement between the previous owner of the thing that you are buying and even in more legally agreement they really make the agreement into an attorney’s office.

  • Marc

    Thank you for informing us that when viewing a boat you should satisfy yourself that the vendor is knowledgeable about the boat and has a legitimate reason for the sale and it is really important since you can be given a bad item because of that or maybe at the end you can’t get the item because of the legal papers and also it is a better way for avoiding such scams.

  • Meribell

    I always but stuff online and when the sale is complete I always draw up a buyers contract so that each of us in party can sign and keep a copy. Everything in this world, if being sell should always have papers or legal things to prove that the thing and that the negotiation is legal and is good and permitted in a good way.

  • Amelia

    I think this is helpful “To help you protect your legal rights and be aware of some of the common issues Noble Marine have produced this guide to buying a boat. “, Legal rights on buying boats are first on the list on things that you must first read. I am not fan on a boat and I don’t have a plan on buying a boat but if I will buy one I would really first secure things and legal papers on the boat that I am buying.

  • Frendy

    Woah! I like the article even though we are not fan of buying boats and also in my people near our areas are not fan of buying boats or boats also. Though boats aren’t famous in our place there are some several type of boats that I like but I can’t afford having since it is very expensive and we all know that boats are very expensive. I will read all of the lines here on your article so that I may learn new things and even just small things.

  • Dragon Jay

    I like this article since this is all about guide on buying a boat and I am much informed that there are some cases and even many cases about people buying boats but then confiscated after buying. I think it is really true that if you buy privately, you won’t be protected legally if the craft has a hidden history or faults and that is why we should be well educated with the legal movements or the legal actions that we should take in buying a boat. I have friends that have experience like that also though it is not boat literally.

  • Zoro

    Well, I really don’t have any idea about the physical feature of the boat or how to use a boat. But anyways, thanks for the information on what should we consider on buying a boat. The trick to buying a boat is to purchase one that is large enough, to suit your needs without breaking your boating budget.

  • Drew

    I never knew that buying boat is much complicated as buying car. I am not much interested in buying boats and I am not a fan of having a boat but surely I learned some things here. I am more fan on seeing cars and that are racing cars like in formula one racing, I love seeing those cars running in a free wide track and when I am watching it I am craving to have a ride even just once.

  • nelson

    This is also a small reason to check “Most repairs will be guaranteed for 12 months so it is worth finding out the date of the repair and the repairers details in case of any future problems.”, it is always preferable that we first check the item that we should but because there is always a reason why they are selling their items (for second hand items) and also for brand new items, we don’t know if there are damaged to it and haven’t seen by the seller. I don’t really like and I am not a fan of having boats or a boat but it is much more comforting if we first check what we want and whatever we like and whatever we wanted, we should not forget to check it first.

  • Ritz

    When you are considering buying a boat, the price of a boat is usually the number one factor. But being able to afford the boat depends on more than the initial boat price, even if it’s a great deal. Whether you are buying a new or used boat, consider all of these expenses when you set your boating budget.

  • Secille

    Buying a boat is not easy as buying mobile phones or things like that because it is a big unit and you have to secure all its corner so that you are sure that there is no defect and also no fault. I agree that asking first the things that will clarify your mind and also satisfy your needs is the best way in first step on buying a boat. I don’t want to buy a boat but it is good that I have learn things over it because of this blog and this is also a backup vocabulary for future use, if I will have to use this information. Thank you.

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