brokers in uk

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suziekatie27

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hello i am buying my first boat and im sooooo scared. im getting mixed information from the broker and this book i have read about who is responsable if there are any depts owing on the boat ,and if she is found to be stolen, on 1 hand im told by the broker that he takes all responsabilty and in the book it says i am ment to check all information. can some one please explain thank you sue
 
There's a good little booklet by the RYA on buying a boa, either from them or some chandlers stock it.

Key isues of course are proving clear title and dealing with VAT. Your broker should happily show you the documentation to prove the clear title. If not, don't buy any boat from him, however much you love it. As for VAT - again you should be able to have the papers showing either that VAT was paid when she was built or imported into the EU, or that she was lying in the EU on the specific date (which I can't recall at this moment, but it's in the RYA book and somewhere on the HMCE site). For example, on our boat we have a statement from a marina in Greece that she was there on the relevant date - a very precious piece of paper! Again the broker should help to sort this out as esentially the boat is unsellable without it - and he will be completely used to being asked for that paper.

If it's titchy boat and a private sale you should still ask the seller for these papers. Once you have those, IMHO, you are protected against the terrifying worries that crop up in some books. And to be honest, if you're buying a small first boat, the sums of money probably don't involve a secured loan (marine mortgage) which would give the lender a charge against the boat.

I suppose if you were really worried AND so madly in love with the boat you couldn't resist you might also want to be sure no outstanding berthing fees were due - ask at the yard where she's lying.

HTH, good luck and enjoy
 
VAT cutoff date is 31st Dec 1992
If you have paperwork which proves vessel was in EU waters on that date then it is "deemed VAT paid".
Bureaucratic nonsense of course, since it is quite easy to forge such paperwork !
 
Suzie,
the brokers advert clearly states that the boat is being sold as VAT paid. If you proceed with them then get them to write you a letter, on their letterheaded paper, clearly stating this fact. Make sure the letter is signed by a legal representative of S (oops, almost gave it away!).
You may have fallen in love with the boat but with SIBS and second hand boat shows just around the corner don't make any hasty decisions.

Steve
 
Always remember that any debt against the boat will come with it and be your responsibility.

The broker is only partially right in that the responsibilty lies solely with him, as while it is up to him to provide you with clear title to the boat, if he doesn't and you end up with a debt as a result you would have to pay up and then sue him for recompense! He would not be obliged to automatically pay the debts, it would have to be found that he was negligent!

Debts are not only mooring fees, or yard fees, they can be loans, mortgages, unpaid harbour dues or taxes. The most trickiest thing to find out about would be if someone had secured loan on the boat as these are not required to be registered on the registry document and loan companies also do not divulge information. But even a broker would be hard pressed to find that out. Mortgages are a different thing as they are usually required to be mentioned on the Registry.
 
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