Okay, you have a buyer for your boat - or - you've found your dream boat and are ready to buy. Now what?
Here is some ideas and information sources that may help:
First things first - You'll want to document the offer and acceptance in a formal way. This is usually done with a written sales agreement. The sales agreement can be simple or comprehensive but it should contain the specific details of what is being sold (included and excluded items), contingincies (E.g. 'subject to survey'), how long the buyer has to obtain inspections, financing and close the deal. The agreement should list the deposit amount, the amount due at closing and any other things that would need to be performed prior to the transfer.
Prior to the transfer, the buyer will need to obtain a survey. A survey is required by lending institutions. It is the responsibility of the buyer to obtain and pay for the survey by a licensed surveyer.
Once you're ready to transfer ownership (you've received payment), you'll need to provide the buyer with a 'Bill of Sale'.
Useful Links For Buyer |