Selling to a friend. Who should own during delivery?

[Ayachtie]

Selling my yacht to a good friend and promised I'd deliver it to their location free of charge.

It's a multi-day trip (3 to 5 days) non-stop.

Friend cannot join me for the trip.

I've suggested it might be the done thing that the sale goes through before the delivery, so that the delivery is then at their risk.

Insurers have confirmed that the insurance is on the boat, not the owner, so with owner's permission and suitably skilled crew, the boat can be sailed, insured, by anyone of the owner's choice.

What do you think?

PS. Unsure if this has a bearing. Have had a firm offer to buy from a local - no delivery trip required - which was turned down because of friend's interest in vessel.

 

[Deleted member 36384]

Ownership Before Delivery Would Be My Preference

Point of sale is entirely how the two parties decide of course. My preference would be to take ownership before delivery and accept the risk of delivery. That way it is under my control. I would not want to agree ownership after delivery incase the delivery passage damages the yacht that would require a renegotiating or walk away, either way, not the best situation for both parties.

 

[stav]

If I was delivering my boat, I would want it paid for, evidence of insurance and clear evidence (letter or email) that the insurance co know I am delivering the yacht and I am not a pro and have no liability insurance.

Personally I would have taken the local money, especially if the new owner can not be on board.

Different situation helping the owner deliver his new boat to doing a delivery trip.

Hope you don't mind me saying is a 3-5day delivery trip within your comfort zone?

You do not say type/value/destination of the scenario.

I found it quite traumatic selling privately and doing a delivery trip of only 100miles.

How much would a proskipper cost and each go halves and you as crew?

Good luck with it.

 

[Boo2]

Absolutely make sure the sale is complete before agreeing to deliver the boat. If something goes wrong and the buyer backs out after delivery you've incurred lots of time, risk and expenditure and now your boat is hundreds of miles away from home. I wouldn't, and I speak as one who's just had 6 days sailing bringing my own boat back from the vendors location.

In fact I would definitely sell to the local buyer in preference to selling to a friend anyway : at least then if there is a disagreement you are able to pursue your own interests without feeling guilty. I guess you won't want to take that course though.

Just my opinion,

Boo2

 

[Athene V30]

I have and would never sell a car / boat / anything mechanical of value to a friend. If a problem emerges later despite best intentions of both parties I would feel the friendship is at risk.

If you do sell, get the money in the bank first and go as the delivery skipper working for the new owner!

 

[Lakesailor]

Why does the trip have to take place when he cannot be on-board? There is no benefit to him to have the boat locally if he is not able to use it. Could you not wait until he is available and do the trip together?
I agree with others that the friendship and the sale of a high-value item do not sit together very easily.

 

[Rigger Mortice]

As others have said, business and pleasure don't mix.

I'll bet that he's not paying you for the delivery trip either? Expenses only?
It's only fair that the boat is his responsibility and that needs to be clearly understood before you leave.

Enjoy your farewell trip!

 

[Searush]

Are you expecting a problem, cos this is only an issue if you have one, isn't it?

I'm surprised the new owner doesn't want to be on the delivery trip. I was glad of former owner's presence when moving my first boat 45 miles along the coast. It was a useful learning experience for me, not just with the trip, butt also getting to know my new boat & how to make the most of her quirks.

 

[Neeeil]

Selling my yacht to a good friend and promised I'd deliver it to their location free of charge.

Sounds like you have already committed to the delivery as part of the deal, and the risks during delivery!!

 

[wazza]

Sorry, but maybe its just me, but I find this quite obvious.. once he's paid for the boat then its his and I take it that of course he's paying for it before you deliver..
So therefore his boat, your cash! Simple as that..
I understand your dilemma with regards to local wanting to buy with no delivery 'hassles', but see it as an adventure

 

[concentrik]

.

Not that it matters but is this the same boat you posted about here?:

http://www.ybw.com/forums/showthread.php?t=289641

Anyway, if I was your 'good freind' and you'd kindly offered to deliver for me I'd be happy to pay for 'my' boat before you left.

You will want to satisfy yourself that your freind has properly insured the boat (the policy is an agreement between the company and a party with an insurable interest, not between a boat and an insurer) and that the insurers were well aware of the delivery arrangements, confirmed in writing.

This will cover you against any liability arising from incident when the boat is under your control with the policyholder's permission. In this way, any reservations either of you may have can be resolved as insurance issues, neatly avoiding any personal difficulties.

Try not to worry too much about quasi-legal matters! Enjoy the trip!

 

[Richard10002]

Why would anyone want to deliver a boat before they have been paid for it and transferred ownership?

What happens if you complete the delivery and he decides he doesn't want it? (you might say that you have a verbal contract, but why invite trouble.

Unlikely, I guess, but possible - and it's you who is asking the question.

Once it's the buyers boat, you have nothing to lose in spending your time on the delivery, and you wont be responsible for any damage.

Good Luck

Richard

 

[MrCramp]

When I sold my last boat the buyer paid for it and a couple of weeks later I moved it to London for him but he was with me.............it was his boat being moved at his risk!

 

[Ayachtie]

OK. That's a pretty clear cut poll. Appreciate all the replies.

In answer to some of the questions...

Buyer can't be present as he's away at the moment and this is all being organised remotely. But he 'needs' the vessel to be in its new home by a certain time. Hence he cannot be present, and the trip cannot be delayed by much.

Yes, a 3+ day delivery trip is well within my capabilities.

No this is not the same boat I posted about before - that is a boat I'm buying, not selling.

Agree that business/pleasure should not be mixed if it can be avoided - but all the time we've had the boat he's said how much he loved it and wanted to buy it if/when we sold it, and we always promised we'd give him first refusal.

Thank you all again for your replies.

 

[temptress]

I have and would never sell a car / boat / anything mechanical of value to a friend. If a problem emerges later despite best intentions of both parties I would feel the friendship is at risk.

If you do sell, get the money in the bank first and go as the delivery skipper working for the new owner!

Ditto. Can strain friendships.

 

[Bosun Higgs]

Nobody "should" - its entirely a matter of the deal you do.

If you sell to a friend be painfully honest and open about the boats defects.

 

[snooks]

Selling my yacht to a good friend and promised I'd deliver it to their location free of charge.

Usually I'd say the buyer should own the boat during the delivery.

However you've promised to deliver it free to their location, so with that in mind you should own the boat until you hand her over to the buyer.

If I'd bought a car and the owner said they would deliver it, I'd pay a deposit, but I'd like to pay for it when I get it. Wouldn't you?

I know you're mates, but if you weren't and the shoe was on the other foot, and it was you buying, would you trust the owner to have your money and your boat?

 

[graham]

Marina fees

I think another question is who is paying the marina fees before and during delivery?

This time of year you could wait weeks for a weather window or be holed up somewhere on passage.

The best way to stay friends is to be crystal clear with each other as to who is responsible for what.