Boat purchase paperwork

[Sailor2000]

Hi, just a quick question, looking at a boat , but it only has 5-6 years clear title / bill of sales in terms of documentation. Is that enough or shall I forget about it , as I know there are other docs that ought be needed ideally.

Thanks!

 

[dunedin]

Need more info, eg
- are you investing £1k or £1m
- how old is the boat
- where is it located (eg UK or elsewhere)
- where will it be used (eg crossing borders often or never)
- is it currently registered (UK SSR, UK Part 1, overseas flag etc).

Generally a cheapish / oldish boat in the UK to be used entirely within the Uk then limited paperwork is fine.
If investing big sums and/or crossing a lot of borders the lack of paperwork would be more of a concern- about previous owners’ approach to care and maintenance if nothing else.

 

[Sailor2000]

Sorry! , just a 2010 arvor for less than 25k in the uk . Only reason I asked as I didn’t want to buy something I couldn’t sell again or have trouble selling.
Thanks !

 

[Sailor2000]

Sorry! , just a 2010 arvor for less than 25k in the uk . Only reason I asked as I didn’t want to buy something I couldn’t sell again or have trouble selling.
Thanks !

The is a ce plate on it etc , but no paperwork regarding it.

 

[rafiki_]

I would want to see the original Certificate, and VAT payment.

 

[teeeeeth]

5-6 years of clear title and bills of sale is a start but may not suffice. Full ownership history is ideal to avoid liens. Check local boating authority rules; a current registration and HIN bill of sale might work with a survey. If gaps remain, consider passing unless the price compensates.

 

[Sailor2000]

I might give it a miss then… thanks!

 

[Tranona]

I would want to see the original Certificate, and VAT payment.

That is far too sweeping - in some cases it will be both necessary and the boat will have it. As Dunedin says it depends on the specifics of the boat. generally speaking the older the boat is and the more changes of ownership, the more limited the paper trail - that is because in this country there is no legal requirement to have any paperwork.

Due diligence is about determining that the boat is as described and the owner has title to sell. This may or may not require a paper trail. The OP says there is no title trail further back than 5-6 years which would on the face of it be sufficient evidence to register the title on Part 1. There is no legal requirement to have any evidence of VAT payment in the UK, but it is useful if going abroad (or rather when returning). Builders Certificates and Certificates of Compliance are relatively new in the scheme of things and again are not legal requirements to use a boat.

 

[rafiki_]

That is far too sweeping - in some cases it will be both necessary and the boat will have it. As Dunedin says it depends on the specifics of the boat. generally speaking the older the boat is and the more changes of ownership, the more limited the paper trail - that is because in this country there is no legal requirement to have any paperwork.

Due diligence is about determining that the boat is as described and the owner has title to sell. This may or may not require a paper trail. The OP says there is no title trail further back than 5-6 years which would on the face of it be sufficient evidence to register the title on Part 1. There is no legal requirement to have any evidence of VAT payment in the UK, but it is useful if going abroad (or rather when returning). Builders Certificates and Certificates of Compliance are relatively new in the scheme of things and again are not legal requirements to use a boat.

Note, I would want to see………….

 

[Tranona]

I might give it a miss then… thanks!

Why? Is there something else about the boat you do not like? or do you have information to suggest it is "dodgy"? The vast majority of particularly older boats do not have a comprehensive paperwork trail

 

[Tranona]

Note, I would want to see………….

Then for the majority of older boats you could be waiting a long time.

 

[Sailor2000]

Why? Is there something else about the boat you do not like? or do you have information to suggest it is "dodgy"? The vast majority of particularly older boats do not have a comprehensive paperwork trail

Nothing dodgy, just 600 hrs , and 5-6year bill of sale history , and service history, Maybe I will give it another chance . I do like it.
I was just hesitant about the paperwork , but it seems to be enough, and for a reputable broker to list .

 

[rafiki_]

Then for the majority of older boats you could be waiting a long time.

I recently bought a 20 year old boat. It had the original sakes doc, certificate, and the changes of ownership. Full service history too.

 

[dunedin]

Nothing dodgy, just 600 hrs , and 5-6year bill of sale history , and service history, Maybe I will give it another chance . I do like it.
I was just hesitant about the paperwork , but it seems to be enough, and for a reputable broker to list .

If all else looks good and no other worrying signs, perhaps for a £25k boat the incomplete paperwork (especially engine service records) might be a reason to reduce the offer price slightly rather than simply walk by. If using a broker, they may appreciate this and persuade the seller to accept a slight reduction.

 

[Tranona]

I recently bought a 20 year old boat. It had the original sakes doc, certificate, and the changes of ownership. Full service history too.

That is from the time when "paperwork" started to become more important. I had a 2001 boat that likewise had a full set of paperwork because I bought it new for charter work and paid VAT in Greece but sold it in the UK. That is the sort of situation where not having a documented history would severely hamper a sale.

Evidence of unchallenged title is a minimum and the more documented history there is the better and it may well have an impact on the price. The OP has evidence and therefore his decision is based on the condition and survey.