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What is the buying process when purchasing via a private seller


Niki Russell

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Whilst it’s out of the water just have a can of blacking handy to paint over any places the surveyor had scraped clean (the boatyard will probably have some handy). If a bad survey is looking likely and you are walking away then leave it to the owner. All our boats have been sold privately and all but one brought privately the last being through a broker who drew up a contract. When we sold it I copied the contract.

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On 05/03/2023 at 00:14, Niki Russell said:

I would imagine that is quite a common concern (at least for a first-time buyer) and that the process could benefit from a simple mechanism to ensure security for both parties until the exchange takes place - but perhaps others feel it works perfectly well as it is (as noted, I'm new to the buying process).

 

It most definitely IS a common concern, just look at all the old threads expressing it! 

 

Yes it could definitely benefit from a simple mechanism as you suggest, but no-one has come up with one yet, other than you give them a carrier bag of cash, they simultaneously give you the boat and the keys. As soon as holding deposits, surveys etc come into play it become fearsomely komperlikated and an element of trust has to be involved in every transaction. 

 

Nobody feels it works perfectly well but like democracy, its a terrible system yet all the alternatives are worse. 

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3 minutes ago, LadyG said:

Cash in a polybag is not safe. You take the boat and ten minutes later are arrested for theft of boat. It's ridiculous to suggest this.

 

Yes it is. You take the boat and ten minutes later you show the arresting officer your receipt. 

 

Didn't you get a receipt? You seem to know a lot about this....

 

 

:giggles:

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17 minutes ago, MtB said:

 

Yes it is. You take the boat and ten minutes later you show the arresting officer your receipt. 

 

Didn't you get a receipt? You seem to know a lot about this....

 

 

:giggles:

Of course I know about it, I bought a boat with original Bill of Sale plus all paperwork for twenty years, including address of owner. I met the owner and we signed a deposit contract with balance to follow. He was abroad on date of sale and appointed an agent, who also provided their address.

A Bill of sale is what is required a receipt is not enough 

 

Edited by LadyG
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2 minutes ago, LadyG said:

Of course I know about it, I bought a boat with original Bill of Sale plus all paperwork for twenty years, including address of owner. I met the owner and we signed a deposit contract with balance to follow. He was abroad on date of sale and appointed an agent, who also provided their address.

A Bill of sale is what is required a receipt is not enough 

 

 

Ah so THAT'S how you escaped being arrested....

 

 

 

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11 hours ago, ditchcrawler said:

Why not time it to coincide with your blacking 

This is what I have done on just about every boat I've bought. Survey and then the next day blacking after a verbal survey result.

Having said that I have been there at every survey so knew what was wrong.

If for some reason it doesn't go ahead then the previous owner has a free blacking.

 

Timeline of last purchase

May 30th offer made and accepted. Gentleman's agreement to go ahead.

July 23rd payment from previous boat arrives 

July 24th Survey done

July 25th Blacking started and money paid by bank transfer documents exchanged 

July 28th loaded onto truck for same day delivery just down from my mooring.

August 10th previous boat collected by new owner.

 

 

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1 hour ago, Loddon said:

This is what I have done on just about every boat I've bought. Survey and then the next day blacking after a verbal survey result.

Having said that I have been there at every survey so knew what was wrong.

If for some reason it doesn't go ahead then the previous owner has a free blacking.

 

Timeline of last purchase

May 30th offer made and accepted. Gentleman's agreement to go ahead.

July 23rd payment from previous boat arrives 

July 24th Survey done

July 25th Blacking started and money paid by bank transfer documents exchanged 

July 28th loaded onto truck for same day delivery just down from my mooring.

August 10th previous boat collected by new owner.

 

 

 

Did it really take 2 months (May 30th to July 28th) from offer acceptance to being loaded on the truck.

 

Thats insane.

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13 hours ago, ditchcrawler said:

Why not time it to coincide with your blacking 

I would find out if you can have the slot for extra days, this may not be available, but if it is, then you may be able to coat the hull, or any othe work that may be required. When I had my boat out for repairs it was out for eight days, ie over a bank holiday. I was able to epoxy, and if I'd been organised I could have had the gunwales etc prepped and painted properly. If there is work to be done the boatyard should have facilities and advice. That assumes all goes well with the survey. Good luck, with your purchase. 

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On 06/03/2023 at 22:30, LadyG said:

Cash in a polybag is not safe. You take the boat and ten minutes later are arrested for theft of boat. It's ridiculous to suggest this.

I'd be more worried about walking round with a sizeable part of my net worth in a holdall, and the right pain in the arse of actually getting it all out the bank, when I could just make a bank transfer like somebody living in the twentyfirst century

 

As a seller I'd refuse it as well, so there is that...

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36 minutes ago, enigmatic said:

I'd be more worried about walking round with a sizeable part of my net worth in a holdall, and the right pain in the arse of actually getting it all out the bank, when I could just make a bank transfer like somebody living in the twentyfirst century

 

As a seller I'd refuse it as well, so there is that...

 

Me too. In fact if a seller really did insist on cash I think I'd walk away.

 

But whenever I suggest bank transfer is best, along comes mrsmelly saying he only ever pays for boats in real cash, the folding stuff. 

 

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6 minutes ago, MtB said:

 

Me too. In fact if a seller really did insist on cash I think I'd walk away.

 

But whenever I suggest bank transfer is best, along comes mrsmelly saying he only ever pays for boats in real cash, the folding stuff. 

 

 

There are more than just Mrs Melly.

 

Ive bought 18 boats and sold 16 and all have been cash transactions (even the one bought in Croatia using Euros) - sign the papers and on your way within minutes of shaking hands.

 

One NB liveaboard was a bit shell shocked as he hadn't emptied his boat, I had to wait for an hour whilst we emptied all his 'stuff' into his car. SWMBO had left me to take the car home and I was to head towards home singlehanded. Got stuck in floods for 2 weeks at Sawley, SWMBO caught the train to Long Eaton so we had a couple of weeks aboard getting her (not SWMBO) cleaned up, cupboards stocked etc etc ready for when we could actually set off for the final leg home.

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On 07/03/2023 at 09:31, Alan de Enfield said:

 

Did it really take 2 months (May 30th to July 28th) from offer acceptance to being loaded on the truck.

 

Thats insane.

It took that long because until I had sold my other boat, unlike some on here, I didn't have £48k sloshing about to pay for the new one.

 The clue is in the line that says 

Payment from previous boat arrives.

 

Edited by Loddon
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1 hour ago, enigmatic said:

I'd be more worried about walking round with a sizeable part of my net worth in a holdall, and the right pain in the arse of actually getting it all out the bank, when I could just make a bank transfer like somebody living in the twentyfirst century

 

As a seller I'd refuse it as well, so there is that...

Saw a guy at a marina buy a neighbouring boat for near £50k in a bag. Buyer and seller were quite comfy with the whole deal which was done in front of others who moored on the jetty. Guess they were both happy to deal with large sums of cash. When we sold a narrowboat boat for half that, cash in a bag would have been a real pain - both bad for us to have around and difficult to bank without questions. We were offered cash, bitcoins, gold and foreign property by different people. Declined all of them in favour of a regular account to account transfer with a reference to the boat sale. Boats I've bought/sold around the £1k mark cash has been good for both parties. That kind of money can be withdrawn from cash machines over a few days or used to pay a round of larger household bills so it doesn't pose a problem. Horses for courses I guess. 

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