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Guide to buying a boat
from: Patrick AltoftBuying 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 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
About the author:
Patrick Altoft is an insurance expert with Noble Marine a
specialist UK 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.
See
target="_blank">http://www.noblemarine.co.uk for more useful
articles.
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