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