How do you know the seller is the legal owner?
A bill of sale can easily be produced, replicated or they may not have one at all. *A bill of sale is a legal document that serves as proof of ownership for the sale of a boat.
Are you looking at buying a boat privately, but want to make sure your money and investment are safe?
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We have been in business for decades and have sold more than 7,000 boats. If you are thinking of buying a boat privately then let us take care of the purchase for you.
You could lose your money and end up with no boat if things go wrong.
What could go wrong?
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Here’s some things you should think about when purchasing privately…
What about the survey?
What if you have the boat surveyed and there is £10,000s of work required but the owner won’t renegotiate the price.
Is there outstanding finance?
Did the seller take out finance when they purchased the boat? If so there may be outstanding finance left to pay meaning the vessel is owned by the finance company and you could end up loosing the boat and your money!
What happens if I loose my money?
What if you pay the funds but the seller does not hand over the boat or transfer ownership. You would be up the canal without a paddle. You could loose your money and loose the vessel.
What can we do?
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Here is how we can help secure your investment by helping you with the correct paperwork and ensuring your funds are safe and secure until completion.
We will do our due diligence to obtain proof of ownership.
We will draw up listing contract for the seller as an agreement to sell the vessel.
This will include us running checks on the seller and the vessel you are buying.
We can help with the survey.
If you decide to have an independent survey (which would be recommended) we can help with the arrangements and if there are any works found we will help you renegotiate the purchase price. Which could save you £1000’s on the cost of the vessel.
We will complete the sales paperwork with both parties.
Once a purchase price has been agreed we will draw up the sales paperwork.
This will include the
- Bill of Sale – This will act as your proof of ownership
- Sales Agreement – This is the contract between the seller and you detailing the terms and conditions of the sale.
- Final Receipt – This is the final transfer of ownership at which point the vessel becomes yours.
Your funds will be safe within the Clients Trust Account.
We will send you through a link to our dedicated Clients Trust Account where you will transfer the funds for the purchase.
The funds will be held in the protected Clients Trust Account until the vessel has been accepted by yourself meaning the sale has completed and handover of the vessel to yourself is complete.
You can find more information about the client trust account by clicking here
Similar to that of solicitors when dealing with mortgages and house sales, the seller will be paid once completion has taken place, this can take up to 7 working days but in our experience is much quicker.
The investment fee for peace of mind and to protect your monies is £995.00 + VAT. a small price to pay for a secure purchase of your new vessel.