Buying a boat privately and paying a deposit

[Kawasaki]

[ QUOTE ]
but it is for sale by the owner privately. This is fine, and I suspect it means at least some of the brokers 6%

So it's not really for sale Privately?

If a deal is done the owner other than a handshake and the promise the bloody thing will still be there tomorrow.

But at least it is 'Physical' and not on 'order' like a new boat/car could be.

the right for a full refund should the boat fail its survey (I dont think it will but you never know).
So if a refund is ok after a duff survey where is the prob?

My feeling is take proof of ID from the seller (DL, Passport copies that match home address) and the paper work for the boat in exchange for £5k.

[/ QUOTE ]

As you know from the Car job.
Paperwork of this nature is deemed pretty normal for even small finance exchanges.

What your saying is , based on the 5k deposit we are talking a 100k vessel.
Plus there is a Broker involved.

Are you nervous as to the Brokers integrity?

Is the vessel in a secure situation physically or ready for a quick departure?

It's the comment made'will the thing be there tommorow' which makes me nervous or would do handing over the deposit dosh.

Again as you know, in the car job we can do an HPI which at least gives us an idea if the item is on finance or maybe somebody else has some Lien on the boat.
I understand your reluctance to part with 5k even to a Broker given the financial situation as it is.

I would do as You think ref taking all the ID you can ref the seller.

If this info is not forthcoming then maybe I would smell a Rat.

'RAT'! apologise to another Forumite--- Roger!!! /forums/images/graemlins/grin.gif

 

[Carolwildbird]

I bought a boat privately, and talked to a marine solicitor about handling the sale. I also had an offer froma broker to do the handling (at a cost!) The marine solicitor told me he thought it was very straight forward to do it myself (esp as the boat was part 1 registered) gave me some tips over the phone, and recommended the joint bank account approach. (good man - no cost and very helpful!).

It was very straight forward - we both agreed to use the RYA contract supplemented by one or two letters of agreement copied from the ones he'd had to sign when he bought the boat (via broker). I suggested a deposit in a joint bank account, which he agreed to , but when we met at the bank to set up the account, he decided I was trustworthy and a deposit was not necessary, so we went off for a coffee instead. We did sign the RYA contract though which committed him to sell and me to buy subject to survey.

 

[Chas25]

Just to clarify the boat is for sale privately, the reference to the 6% was that at least part of that would be reflected in a lower sale price! /forums/images/graemlins/grin.gif

i.e. if a broker would list for 100k privately it might be advertised for 95k because there aren't broker fees to pay.

I don't think either Jez or I have a major issue with dealing with a broker, obviously depends who they are!

Boat we assume is on the owners mooring, I would say reasonably secure and unlikely to just disappear!

 

[Alistairr]

I think the boat is in the marina, and i know for sure the marina there will want their 1%, if not using their broker.

And you need the co-operation of that marina to lift the boat out for survey and transport.

Al.

 

[longjohnsilver]

As others have done I've sold a number of boats privately and never asked for or expected a deposit. The boat remained mine till cleared funds paid into my account. Survey arranged and paid for by purchaser, that way I knew he/they weren't time wasters.
Regarding seatrial, I was happy to do that, it was my boat and i was always glad to take it out for a trip around the bay. If ashore then purchaser again paid for lift in/out.
I certainly wouldn't agree to paying a stranger a deposit. If he wants to sell he will agree to you getting survey etc, after all the whole process shouldn't take more than a week or so. What are the chances of him finding another buyer in that time? And completing on the deal within the same timespan. Just about zero, so he has absolutely nothing to lose.