Selling a boat..etc

[DeanS]

After liking what he saw, my new boat buyer confirmed his intention to buy pending a survey.

I travelled to a nearby boatyard and the boat was towed out and kept on hard standing for a week.

I blacked the boat and they welded new anodes on.

The boat had a full survey done.

The initial verbal feedback from the surveyor was good and the buyer has since confirmed the sale will go through.

He is making final arrangements before the point of making a payment.

Everything thus far has gone wonderfully, so I'm wanting to continue the process in the same manner, which is where I need some help.

 

Question 1 :

 

I know there is no such thing as a "proof of purchase" form when it comes to boats. Do I just create a formally worded document, signed by me, to say that the boat now belongs to the buyer?

Question 2 :

 

The boat is licensed and I pay a monthly debit order to BW. At a point the new owner will need to fill in some kind of form with BW to take over the licence payments. Anyone know what form it is.

 

Question 3 :

 

Once I have sold the boat, I am getting a widebeam shell to fit out. Do I have to fill in the same form/different form with BW to begin paying licencing for the new boat.

 

Question 4 :

 

If the new owner wants to change the name to something else, how would he achieve that?

 

Question 5 :

 

I assume when I licence my new boat, I put my new boat name on that form? We may want to keep the same name...but it's long to paint..ha ha.

 

Question 6 :

 

The buyer doesnt need to worry about BSS renewal till 2015. My new shell will have RCD. If we are planning to live in for the next 10yrs...at what point would I need it to have a BSS issued?

 

Question 7 :

 

Where do I get a new number plate with the BW number , for the new boat? Do you need it displayed.?

 

Question 8 :

 

My boat is currently insured with my current insurer. When it is sold to the new buyer, would he contact his own insurer? Do I then stop insurance at my insurer? Do I have to arrange insurance again prior to collecting my new widebeam shell?

 

Thanks for your help everyone

[matty40s]

After liking what he saw, my new boat buyer confirmed his intention to buy pending a survey.

I travelled to a nearby boatyard and the boat was towed out and kept on hard standing for a week.

I blacked the boat and they welded new anodes on.

The boat had a full survey done.

The initial verbal feedback from the surveyor was good and the buyer has since confirmed the sale will go through.

He is making final arrangements before the point of making a payment.

Everything thus far has gone wonderfully, so I'm wanting to continue the process in the same manner, which is where I need some help.

 

Question 1 :

 

I know there is no such thing as a "proof of purchase" form when it comes to boats. Do I just create a formally worded document, signed by me, to say that the boat now belongs to the buyer?

Question 2 :

 

The boat is licensed and I pay a monthly debit order to BW. At a point the new owner will need to fill in some kind of form with BW to take over the licence payments. Anyone know what form it is.

 

Question 3 :

 

Once I have sold the boat, I am getting a widebeam shell to fit out. Do I have to fill in the same form/different form with BW to begin paying licencing for the new boat.

 

Question 4 :

 

If the new owner wants to change the name to something else, how would he achieve that?

 

Question 5 :

 

I assume when I licence my new boat, I put my new boat name on that form? We may want to keep the same name...but it's long to paint..ha ha.

 

Question 6 :

 

The buyer doesnt need to worry about BSS renewal till 2015. My new shell will have RCD. If we are planning to live in for the next 10yrs...at what point would I need it to have a BSS issued?

 

Question 7 :

 

Where do I get a new number plate with the BW number , for the new boat? Do you need it displayed.?

 

Question 8 :

 

My boat is currently insured with my current insurer. When it is sold to the new buyer, would he contact his own insurer? Do I then stop insurance at my insurer? Do I have to arrange insurance again prior to collecting my new widebeam shell?

 

Thanks for your help everyone

 

The day agreed for sale between you and buyer (via broker perhaps) is the day tha you stop your insurance, DD to bw etc.

Aidian will contact BW to get the relevant information logged re the licence.

You either need to claim back the outstanding licence money from you current years left, or it will be transferred to Aidan anyway, it is the boat that is licenced, not you that has licenced it.

Why bother with a BW number plate, they look crap, just get it painted on when boat is ready for it.

The new owner can name the boat what he likes, he should inform BW of this, but it isn't your worry, and has no cost to him.

 

You will need to licence your new boat as soon as it is on BW waterways, you will need a BSC within 5 years I think.

You cancel your insurance the day you sell, and only re-insure your new boat as you see fit, 3rd party whilst refitting and then fully comp/liveaboard once on there.

[debbifiggy]

Do not stop your direct debit to BW. You will get "fined" £30 for a missed payment and if not sorted rapidly will end up with debt collectors and possibly a CCJ against you if you let it get that far.

 

Much better to make the transfer of the licence part of the boat sale and include it in the price IMHO.

 

PM me if you need assistance on licence issues.

 

D

[DeanS]

The day agreed for sale between you and buyer (via broker perhaps) is the day tha you stop your insurance, DD to bw etc.

Aidian will contact BW to get the relevant information logged re the licence.

You either need to claim back the outstanding licence money from you current years left, or it will be transferred to Aidan anyway, it is the boat that is licenced, not you that has licenced it.

Why bother with a BW number plate, they look crap, just get it painted on when boat is ready for it.

The new owner can name the boat what he likes, he should inform BW of this, but it isn't your worry, and has no cost to him.

 

You will need to licence your new boat as soon as it is on BW waterways, you will need a BSC within 5 years I think.

You cancel your insurance the day you sell, and only re-insure your new boat as you see fit, 3rd party whilst refitting and then fully comp/liveaboard once on there.

 

thanks.

 

Do not stop your direct debit to BW. You will get "fined" £30 for a missed payment and if not sorted rapidly will end up with debt collectors and possibly a CCJ against you if you let it get that far.

 

Much better to make the transfer of the licence part of the boat sale and include it in the price IMHO.

 

PM me if you need assistance on licence issues.

 

D

 

thanks.

 

question to all....

If I am paying £80 a month on a d/o to BW for my current licence...and I sell the boat...but leave the d/0 in place...it will run forever because BW will never stop it...so at a point I do need to halt it....are you saying that when they receive the new ownership details (sent to them on some form??????) , that they will then bill the new owner instead of me and the d/0 will cease automatically? If so, does anyone know which form that is?

[matty40s]

Do not stop your direct debit to BW. You will get "fined" £30 for a missed payment and if not sorted rapidly will end up with debt collectors and possibly a CCJ against you if you let it get that far.

 

Much better to make the transfer of the licence part of the boat sale and include it in the price IMHO.

 

PM me if you need assistance on licence issues.

 

D

 

Surely that is a problem of BW's admin, not the customers Debbi.

The customer would also not get a CCJ as if they stood in court, it would get quashed and costs awarded against BW, more money that CaRT cannot afford to lose.

I agree that the best way is to allow the licence to become part of the sale, but I would not carry on paying it after I had sold the boat. Registered letter to BW informing them of the status and cancellation letter to bank.

[windy miller]

If you want a formal looking document relating to the sale, google 'RYA Bill of Sale', fill in the relevant bits and print off on fancy parchment. Both parties sign it in the presence of a witness, then a lawyer will appear on here to tell you it's not worth the paper it's written on!

 

There is a change of ownership form on the back of your licence document to be returned to BW who will amend your records accordingly and hopefully cancel your payments.

Edited May 10, 2012 by windy miller

[tony collins]

Do not stop your direct debit to BW. You will get "fined" £30 for a missed payment and if not sorted rapidly will end up with debt collectors and possibly a CCJ against you if you let it get that far.

 

Much better to make the transfer of the licence part of the boat sale and include it in the price IMHO.

 

PM me if you need assistance on licence issues.

 

D

 

 

This would be OK if he had paid for his licence in full. However a monthly direct debit complicates the matter. We know that common sense and BW should not be mentioned in the same sentence. but that is what is needed here. This cannot be a new situation for BW they must have encountered this problem before. Your second sentence illustrates the attitude that BW have towards their customers. I fear that the same will be the case under CART.

[debbifiggy]

Surely that is a problem of BW's admin, not the customers Debbi.

The customer would also not get a CCJ as if they stood in court, it would get quashed and costs awarded against BW, more money that CaRT cannot afford to lose.

I agree that the best way is to allow the licence to become part of the sale, but I would not carry on paying it after I had sold the boat. Registered letter to BW informing them of the status and cancellation letter to bank.

 

Sorry Matt not quite correct. If you transfer the licence to the new owner by leaving the licence discs on the boat and you haven't paid for them in full you a still liable to pay for them in full until payment has been completed for that licence period.

 

From the BW website

"Missed payments and cancellation of Direct Debit:

 

If we are unable to collect a payment because of insufficient funds in your account, a further attempt will be made to collect it after 10 working days. If it is not possible to collect the money on this second attempt we will automatically cancel your Direct Debit and all outstanding amounts become due immediately. Similarly, if you cancel your Direct Debit instruction, the outstanding portion of the full licence fee becomes due immediately.

 

If we do not receive the outstanding amounts due, your licence may be terminated. In this case you must remove your boat from our waters. If you fail to remove your boat from our waterways, we can do so at your expense and take action to recover any debt.

 

Owing to the cost of dealing with Direct Debit defaults, we reserve the right to charge a handling fee of £30. You may also incur legal costs if we have to instruct solicitors to recover the debt. If you default on your direct debit payments, we may refuse to grant you a Direct Debit facility in the future."

 

Also to note from the t&c's is

 

"Selling the boat or removing it from the waterways: refund terms. We will transfer your licence to the new owner at no extra charge, providing the licence is fully paid and you give us the address of the new owner. Alternatively, you can return both copies of the licence disc to us and request a refund, if applicable (see refund table).

A licence being paid for by Direct Debit instalments is not transferable if you sell your boat. You have two options

 

1. to pay the remaining outstanding balance so that it becomes a fully paid licence. We will then transfer it to the new owner on your instructions.

2. to return the licence to us for a refund, if appropriate.

 

Generally, the shorter the length of time left before the licence expires, the more advantageous it will be for you and the new owner to take option 1.

See the appropriate refund table for the percentage of the total fee that will be refunded if you sell your boat or remove it from the waterways."

 

HTH

Debbi

[Chertsey]

The thing is, you are not paying for one month's worth of licence at a time. You are paying for the whole licence, albeit in instalments. You are responsible for paying for that licence. Best thing would be to arrange for the buyer to pay you for the months remaining, and use that to pay off BW.

[sueb]

May I suggest Debbi knows what she is talking about and she has offered help.

[Chris Pink]

She is right but completely out of order using the word 'fine'

 

But yes, give the license to the new owner definitely. Anything else is not only going to cost everyone it is mean.

[Albion]

She is right but completely out of order using the word 'fine'

 

But yes, give the license to the new owner definitely. Anything else is not only going to cost everyone it is mean.

 

That is exactly why Debbi used inverted commas around the word to indicate that its use isn't to be taken too literally but the end result of the administration charge is the same thing, i.e. an extra payment.

Roger

[debbifiggy]

She is right but completely out of order using the word 'fine'

 

But yes, give the license to the new owner definitely. Anything else is not only going to cost everyone it is mean.

 

I stand corrected. I was trying to do things too quickly and didn't select the correct word. It should have been "handling fee". Hopefully my later post has clarified matters and everyone is happy now.

 

D

Edited May 10, 2012 by debbifiggy

[matty40s]

I was trying to do things too quickly ......

D

 

tell us again why we live on boats...............

[carlt]

Having many months's of hassle with BW's completely incompetent admin, trying to get a boat out of my name, transferring the license to the new owner and trying to prevent BW taking any more money from a supposedly cancelled direct debit this is what I would recommend:

 

Write to BW licensing department telling them that you have sold the boat and have cancelled your direct debit. Please could they invoice you any outstanding sums, relating to this boat, separately from any other vessel that you may have an interest in. State that you are enclosing the licence discs.

 

Enclose the licence discs and send it Special Delivery to a specific named person.

 

BW denied receiving my discs despite me sending them Recorded Delivery (the signature and printed name were both illegible).

 

Inform your bank that you are cancelling the direct debit because if you don't and BW carry on claiming money, you'll get bank charges.

 

Make sure you inform them that any further correspondence will attract a £30 fine handling fee.

 

Also, and most importantly, make sure that the person who is actually writing to you hasn't left BW's employment BECAUSE THEY DIED!.

 

I have letters from BW signed by someone who had passed away nearly a year before they were written.

 

 

It would be a lovely gesture to leave the discs in the window and have a smooth transfer of ownership and licence responsibility but BW are just not up to the job.

[DeanS]

Having many months's of hassle with BW's completely incompetent admin, trying to get a boat out of my name, transferring the license to the new owner and trying to prevent BW taking any more money from a supposedly cancelled direct debit this is what I would recommend:

 

Write to BW licensing department telling them that you have sold the boat and have cancelled your direct debit. Please could they invoice you any outstanding sums, relating to this boat, separately from any other vessel that you may have an interest in. State that you are enclosing the licence discs.

 

Enclose the licence discs and send it Special Delivery to a specific named person.

 

BW denied receiving my discs despite me sending them Recorded Delivery (the signature and printed name were both illegible).

 

Inform your bank that you are cancelling the direct debit because if you don't and BW carry on claiming money, you'll get bank charges.

 

Make sure you inform them that any further correspondence will attract a £30 fine handling fee.

 

Also, and most importantly, make sure that the person who is actually writing to you hasn't left BW's employment BECAUSE THEY DIED!.

 

I have letters from BW signed by someone who had passed away nearly a year before they were written.

 

 

It would be a lovely gesture to leave the discs in the window and have a smooth transfer of ownership and licence responsibility but BW are just not up to the job.

 

I'm amazed. You would think BW would have this process all nice and simple by now?