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Guide to selling a boat
from: Patrick AltoftSelling 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 selling a boat. Please
note that we have only addressed the legal aspects of the
subject and have not addressed the different methods of
advertising your boat.
Advertise your boat online The Noble Marine boats for sale
database contains thousands of boats for sale and includes
descriptions and detailed photos.
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 The
increasing use of the Internet for boat sales in recent years
has seen a large increase in the number of fraudsters contacting
the people advertising boats.
If you receive an email from a potential buyer ask yourself if
they sound genuine. Most people will be able spot spam emails by
the broken English and poor grammar they use - fraudulent emails
are no different.
The emails detailed at the end of this article were received in
response to a recent advert selling an RS200, we have removed
the names for security reasons.
In these cases the buyer will eventually email offering to
transfer a much higher sum of money than the value of the boat
into the sellers account and stating that they will send a
representative to collect the boat. Of course the seller would
then need to reimburse the additional money paid by the buyer.
The end result of these types of scams is that the buyer's
cheque appears to clear and then bounces leaving the seller out
of pocket by the amount they refunded to the buyer and with no
boat. The fraudsters are usually based abroad so it is very
difficult to recover any compensation from them.
When the sale is complete you should always draw up a sellers
contract so that each party can sign and keep a copy as proof of
sale.
Don't let anyone take your boat away until you're satisfied that
you've been paid in full. Cash is always the best way to be
paid. If you are given a personal or building society cheque,
wait for it to clear in your bank before you hand the craft to
the buyer. Noble Marine have prepared a sample sellers contract
for use in private boat sales. It is always important to keep
the proof of sale and the new owners details - you may need to
contact the buyer in the future.
http://www.stolenboats.org.uk
http://www.noblemarine.co.uk/boatsforsale.php3
http://www.noblemarine.co.uk/sellingyourboat.php3?section=contrac
t
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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