Boating World info

Buying a Boat

Buying a boat used to be a matter, as with buying a second-hand car, of buyer and seller agreeing a suitable price and paperwork and money being exchanged.

With the steep rise in boat prices over the last fewe years, finance and loans have become the norm and brokerage the accepted way of trnsferring a boat’s ownership between parties.

Unlike cars, there is no universal registration document available when buying a boat so a brokerage will do a search into the history of the boat , mainly to ascertain if the seller has full legal title to the boat in question. The Waterways World Annual 2009 cites examples of joint ownership where one partner has sold the boat eithout the other partner’s permission then skippped off with the money leaving the other partner and the seller to fight through the courts for legal title.

As with that other major purchase the house, it is wise, if not essential to complete all due dillegence when buying a boat.

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