Using a solicitor during a purchase

[mjkinch1]

I have a question..

We are about to make a reasonably large purchase of a boat through a broker. SWMBO has suggested we should also involve a solicitor to ensure nothing is missed, which will add another £400-£500 to the bill. Not that I am against this, but given we are using a reputable broker, and all the advice from this forum and the RYA web site, I am not sure about the added value. I certainly wouldnt want to risk our funds by getting it wrong, but the Broker seems to have covered everything off, including all the required paperwork and searches.

Appreciate a view from those with more experience in buying than myself!

 

[Lakesailor]

Tough Call.

neither breed on anyone's Xmas card list.

The broker isn't acting for you

The solicitor ought to be.

 

[sailorman]

when i bought through the "Oyster" brokerage i got first class service including all documents relevant to the purchase.
me based in UK
boat was in Holland
Owner German National ( first & only owner )
boat vat exempt with "sworn affidavit" from Owner.
if you have a very reputable broker you will have no probs a lawyer may even get in the way as he may not under stand boat talk
good luck
roger

 

[ari]

[ QUOTE ]

Owner German National ( first & only owner )
boat vat exempt with "sworn affidavit" from Owner.

[/ QUOTE ]

Not sure I follow that one. /forums/images/graemlins/confused.gif

Presumably then you paid the VAT in the UK on arrival?

 

[DAKA]

My boat had finance o/s when I bought it so I settled the Finance co. direct after I got a letter from them saying their interest would cease once my cheque had cleared with them.
I checked there wasn't other o/s finance best I could.
I checked the history of the boat fully along with the previous bill of sale and spoke to the previous owner.

I would not hand a cheque to a Broker without checking

1) The Broker has a valid Professional indemnity policy in force
2) The Broker has a dedicated Trust account to hold your funds in.


Just because the Broker should know what he is doing doesn't mean he can be bothered to do it.

Your funds could get taken by the brokers creditors if your money is not in trust.


I suspect Sailorman has cut out a great deal of detail but it would appear the boat is older than VAT .

A statement from the owner would only be any use to sue the previous owner for any VAT that is could to be due.

If you were impounded in France with a demand for 20% (?) of the French valuation of your boat the statement would not help ' PROVE ' the age or VAT status.

Having paid the French £20 k to get your boat back you could then try to sue the previous owner but you would have to 'PROVE' he lied and the boat is not as old as he stated.
You could then sue the Broker for poor advice but if he hasn't got the proper cover this could be a waste of time and anyway is he acting for you ?



Research and do it yourself or use a Marine legal specialist, personally I trust myself to do a thorough job !

I am speaking after a bitter experience with Brokers where I won, but after such hassle including Barrister fees it was an empiric victory.



I would be pleased to hear if anyone knows what happened to

Dave Deritt and Bob Hardman

T/A Severn Yacht Brokers


They were based at Kemsey nears Worcester.

 

[mjkinch1]

Thanks everyone - decided to do all the homework myself, and it all seems ok. Got all paperwork, checked registry etc. Broker also did all checks, and have seen all original paperwork, so quite happy.

I think if the broker had not been so established I may have use a solicitor, but all seemed to work out. Am completing Friday.

Martyn

 

[sailorman]

no vat paid
vat exempt
the original owner from whom i purchaced bought vat free.
boat was deemed within eu on what ever date ( cant remember without looking @ documents) hence afidavit to swear that was so