How do I buy a boat?

[hood132]

_{Im new to boating and looking for a narrow boat. Preferably one that is already in the water, the thing is I don`t know how you go about buying them. What i mean by this is I know how to buy a car, HPI check fill in the log book make sure they have a log book check the VIN numbers etc.}

 

_{With a boat is it just theres the cash now ill take the boat? Or is there a logbook to transfer ownership ?}

 

Regards.

 

 

[MtB]

Welcome!

 

This has been covered many times on this forum, have a search using the search box top right of every page.

 

Broadly speaking there is no log book, no ownership register, you are on your own as far as establishing the person selling the boat to you owns it and is entitled to sell it.

 

If they have a big folder full of invoices for repairs, old licences, moorings bills etc all addressed to the seller at their home address, and you can ge tto visit them at that same address to verify they truly live there, you are unlikely to get stitched up.

 

 

MtB

[Dyad]

_{Im new to boating and looking for a narrow boat. Preferably one that is already in the water, the thing is I don`t know how you go about buying them. What i mean by this is I know how to buy a car, HPI check fill in the log book make sure they have a log book check the VIN numbers etc.}

 

_{With a boat is it just theres the cash now ill take the boat? Or is there a logbook to transfer ownership ?}

 

Regards.

 

 

 

Welcome to the Forum. I would suggest you make use of the seach option in the top right of the page. It has been discussed before and will bring up a wealth of information.

[MtB]

P.S. You need to call CRT to tell them you've bought the boat. They'll record you as the new owner to bill for licence renewals, and they'll want to know where you are gonna moor it.

(Although strictly speaking, it's the seller's job to tell them who they flogged it to!)

[Alan de Enfield]

I take a carrier bag full of cash (a bit less than the asking price) and if I'm interested in the boat, the buyer gets a peek in the carrier bag. If he agrees, I get the keys, he gets the cash, I drive the boat away.

 

There are more complicated, involved and time consuming ways but my way works for me.

[JDR]

Welcome!

 

This has been covered many times on this forum, have a search using the search box top right of every page.

 

Broadly speaking there is no log book, no ownership register, you are on your own as far as establishing the person selling the boat to you owns it and is entitled to sell it.

 

If they have a big folder full of invoices for repairs, old licences, moorings bills etc all addressed to the seller at their home address, and you can ge tto visit them at that same address to verify they truly live there, you are unlikely to get stitched up.

 

 

MtB

 

I agree with the bit about the folder full of docs, I would expect to see old licence discs, BSS certificates, correspondence from BW or CART, receipts for maintenance and most importantly a Bill of Sale. If the sale was from a known existing broker then even better.

 

I do take issue with the verifiable home address. I know lots of boaters who do not have permanent shoreside addresses but rely on mail forwarding services or the goodwill of friends or family. All the addresses I have used in the UK while living on a boat have been city centre offices for mail forwarding services. Good enough for banks, my employers, the Home Office, and DVLA but you would get some very strange looks if you turned up in person asking to speak to me.

[sueb]

Am I the only one who wouldn't sell to someone turning up with cash?

[Athy]

Am I the only one who wouldn't sell to someone turning up with cash?

So far, yes.

Cash doesn't bounce - unless of course they are fake banknotes, but if you accompany the buyer to your bank and pay in the money, there should be no problem. Other forms of payment are susceptible to being rescinded.

Edited July 14, 2014 by Athy

[Alan de Enfield]

So far, yes.

Cash doesn't bounce - unless of course they are fake banknotes, but if you accompany the buyer to your bank and pay in the money, there should be no problem. Other forms of payment are susceptible to being rescinded.

 

Problem with doing that is that you can be in trouble under the money laundering legislation.

I believe that you can only deposit up to Euro 15,000 (or equivalent in local currency) without having to explain where its come from and where your 'buyer' got it from.

 

If you are paid (say) £30,000 - You can pay (say) £10,000 into 3 different accounts (or on different days - or different banks) without a problem.

[Athy]

A good point, and one of which I was unaware. I suspect that depositing a few wads of one's payment at the bank would ascertain whether the wads were forged or not.