yacht sales agreement template

Boat PurchaseSale Agreement

Agreement maker.

Have you ever wondered how much owning or renting your own boat would be? Of course the fact it is expensive but quite useful. Especially when you plan to go on a vacation of your dreams. Who does not want to go on a vacation using their own personal boat? A lot of people would think that owning or buying a boat is just not as practical as it was before. But there are also those who do think that it can come in handy. Regardless of the reason for wanting to buy one, you may have also noticed that when buying an item , there will be paperwork to be done. Not only by you as the buyer, but also the person who is selling the item. Items like boats, equipment, cars and lands all share the same kind of paperwork. Agreements. With that being said, here are some examples of a boat purchase and sale agreement. Just in case you may want to know what it is about.

3+ Boat Purchase and Sale Agreement Examples

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What Is a Boat Purchase and Sale Agreement?

A boat purchase and sale agreement just like any other agreement is a legally binding and written document that seals the deal between the boat seller and the boat purchaser . The agreement consists of its own agreement clause, details about the boat you are going to be purchasing and the general information necessary for an agreement. In addition to that, a boat purchase and sale agreement is written only when all parties that are involved have fully discussed on the price and agreed to it. As this is part of the agreement clause found in the agreement.

How to Write a Boat Purchase and Sale Agreement

Are you planning on buying your very own boat? Do you have ideas on what to expect in a purchase and sale agreement? You may have heard these questions pop out when you ask around and get no answer. Not to worry, the tips below will help you see what to expect in a boat purchase and sale agreement.

1. Information of All Parties Present

The names, address and contact details of the parties that are going to be present during the agreement. This would mean the buyer and the seller. Their names and contact details are important and must be written in order to start the purchase and sale agreement. Especially when you plan to buy from someone who is not associated with a company.

2. A Description of the Boat

The next thing you can expect in a boat purchase and sale agreement is the description of the item. In this case it is the boat. The seller must give a short but specific description of the boat in order for the buyer to know about it. Handling things online can be tricky especially if the photograph is not what you would be expecting in reality. So when a buyer and a seller meet, it is already expected that the description of the boat is stated. Give a description of the boat.

3. The Agreement Clause Should Be Stated

Watch out for the agreement clause. See to it that you read it carefully, discuss it with the seller and ask questions. You should also be asking if you do not see the agreement clause as this part of the agreement is important. Never accept any agreement without the agreement clause.

4. Signature of Buyer and Seller Present in the Agreement

You must affix your signature only if you have fully agreed to the conditions in the agreement. Affixing one’s signature means that you have understood what has been discussed, all your questions have been answered and you have checked all what is important and needed in the agreement clause.

What is a boat purchase and sale agreement?

A specific kind of agreement that caters to purchasing and selling boats. The agreement consists of information necessary for the purchase and sale to be complete. In addition to that, a boat purchase and sale agreement is only legally binding when both or all parties have agreed and signed the document.

What happens if there is no boat purchase and sales agreement?

There would be no proof or evidence of the purchase and sales of the specific item. The point of the agreement is to ensure the buyer that the item is present, that the item has changed ownership and to bind parties together.

Who is expected to write the agreement?

If you are buying it from outside a company, the person who is selling writes up the agreement. However, if you are buying it from a company, the agent who is selling would proceed to fill out a blank agreement template and fill it out.

Buying and selling always go together, and what also goes together with these is an agreement. Whether you are selling through a company or as a private seller, there is no denying that you would also need an agreement to settle it. Agreements are made for a specific reason and should also be used for such.

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YachtCloser provides its customers with an unlimited amount of document storage. Whether you sold that boat one, two, or five years ago, you can instantly print, email, or review past documents as a PDF. When your customer calls a year later and says they need a copy of an agreement, with YachtCloser, you an supply the requested information to your client at the click of a button.

• Central Listing Agreement
• Amendment to Listing Agreement
• Material Damage Disclosure
• Guaranty of Principle
• Showing Instructions
• Showing Log
• Purchase and Sale Agreement
• Amendment to Purchase and Sale Agreement
• Trade-In Vessel Addendum
• Acceptance of Vessel
• Conditional Acceptance of Vessel
• Rejection of Vessel
• Co-Brokerage Agreement
• Escrow Agreement
• Wire Transfer Information
• Buyer Closing Statement
• Seller Closing Statement
• Bill of Sale
• Disbursement of Funds
• Insurance Waiver
• Payoff Verification
• Warranty of Title
• Dealer Agreement (New/Used Boats)

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Tampa yacht sales.

Owner/Broker

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Pat Burchard

Gold key yachts of florida.

Bonnie Edson

Aqua sol yacht sales.

Robert Stotler

Broker/principle, stotler yachts.

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Boston yacht sales.

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Manatee pocket yacht sales.

Dave Pugsley

Vice president and general manager, brewer yacht sales.

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Sales Contracts

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Whether you buy a new boat from a dealer or a used boat directly from the owner, the best way to protect your interests is to outline the terms of the sale in writing.

A written agreement will eliminate or minimize questions and problems that could later turn a sweet deal at the dock into a sour one in court. By spelling out the obligations of the buyer and the seller, as well as the time frame in which the sale is to take place, you have a legally binding, written document of the parties' intentions.

It's not necessary to have a lawyer write the contract, although this should be considered, especially if you're buying a high-ticket boat or are having one custom-built for you. Most dealers use contracts printed with their name and address, but "fill-in-the-blanks" contract forms found in stationery stores or online will suffice for private sales. (Or click here to download the BoatUS Purchase Agreement .) A handwritten agreement will also serve the purpose. Regardless of the form, both parties must sign the contract. If the sales agreement requires the signature of both the salesperson and an officer of the dealership, make sure both spaces are signed.

Download the BoatUS Buyers Guide PDF to read this article and the entire guide.

If you're buying from a broker, the sales contract will usually be standardized. But that doesn't mean you shouldn't carefully go through it and make sure that such items as tankage and engine hours are filled out accurately. The broker's information is only as good as what the seller provides.

Basic Contract Terms

Sales agreements or contracts should include the following minimum information:

• Complete names and addresses of buyer and seller
• Complete description of boat and engine, including make, model, year, hull-identification number (HIN) and engine serial number(s). New boats will come with a Manufacturer's Statement of Origin, something you will need to register the boat. A complete equipment list is a must. If there's a trailer, include its serial number, as well.
• The purchase price, including a description of any deposits paid by buyer and how the balance will be paid (for example, certified check). It should also describe the trade-in boat, if any, and its exact value. Most states require the trailer to be registered with the motor vehicle agency, and usually require tax to be paid, just as it would with a car. It's wise to separate the trailer value from the boat on the contract to make this easier.
• A firm delivery date describing when and where the boat will be delivered and the deal finalized
• The boat's condition at the time of delivery, including a complete list of the accessories and items that convey with the boat
• A full description of any warranty from the dealer or manufacturer. When boats are sold in "as is" condition, recourse may be impossible if problems arise.
• Buyer's contingencies: Spell out that the sale hinges on a satisfactory survey and sea trial and the ability to obtain acceptable financing and marine insurance.
• A statement that the boat is free of all liens and encumbrances

Financial institutions often consider boats to be luxury items, so the application process is more like buying a house than buying a car. As part of the underwriting process, many lenders will ask for a personal financial statement along with tax returns. For used boats, a tax return is often required. Terms up to 20 years with down payments between 10% and 20% are common, but rates and terms can vary depending on the age, size, type, and use of the boat. It's a good idea to talk with prospective lenders before filling out a loan application.

On a new boat, lenders need the Manufacturer's Statement of Origin. It certifies that it has had no other retail owner. With used boats, lenders check for a clear title or record of ownership. For larger boats, lenders usually require marine-insurance coverage and federal documentations as conditions for loans.

Manufacturer's Statement of Origin

The Manufacturer's Statement of Origin (MSO), or Certificate of Origin (MCO), that comes with each new boat contains the boat's hull identification number (HIN) and engine serial number(s). The MSO or MCO shows when the boat was built and transferred to the retail dealer for resale purposes. You will need the MSO when you register or document a new boat. If the boat is financed with a loan, the MSO will be transferred to the lender; otherwise, it will be included in the boat's papers given to you at the time of purchase. You or your loan company should receive the MSO when you take delivery. If not, contact the boat manufacturer at once. Without the MSO you may be unable to register the boat or meet insurance requirements.

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Boat Purchase Agreement Template

Download this Boat Purchase Agreement Template Design in Word, Google Docs, Apple Pages Format. Easily Editable, Printable, Downloadable.

Here’s a professionally made Boat Purchase Agreement template you can download at an affordable price. This file is perfect for those wanting to create a definitive agreement that finalizes all terms and conditions related to the purchase and sale of a boat or yacht. The file is easy to use and can be opened in the available file formats. It also makes use of professionally designed content you can add, remove, or modify to better suit your needs. Why download it you ask? It’s convenience, versatility, and affordability all rolled into one template.

BOAT PURCHASE  AGREEMENT

Cameron McCoy

Charlie's Boat Sales

This BOAT PURCHASE AGREEMENT (“Agreement”) dated September 20, 2031, is made by and between Cameron McCoy of 3043 Arbutus Drive, Miami Springs, Florida 33166 (“Buyer”) and Charles Avery of Charlie's Boat Sales (“Seller”).

Purchase and Sale

The Buyer shall purchase a light Vessel, of which the Seller shall sell, transfer, and deliver to the Buyer, on or before October 25, 2031. The Vessel is herein described as:

A Bali 4.1 Catamaran Yacht; Model 2018, with Hull ID Number: US-NSW4231Q518. The full description and specification of the Vessel are detailed in a document attached to this Agreement.

The Parties hereby agree on the purchase price of $300,000.00 (“Purchase Price”) for the Vessel. Now and therefore, for and in good consideration, the Parties hereby agree to the terms and conditions of the purchase as follows.

Terms and Conditions

The Parties agree that payment for the Vessel’s Purchase Price shall be made in two equal parts. A down payment of $150,000.00 shall be made by the Buyer upon signing this Agreement. Another $150,000.00 shall be paid upon the delivery of the Vessel to the Buyer.

INSPECTION 

The Seller shall give the Buyer the opportunity to inspect the Vessel before closing the purchase. The inspection shall be performed within 10 days before the date of closing.

The Parties agree that the purchase shall be closed and finalized at the Seller’s office at 1908 Golden Street, Miami Springs, Florida 33135, on September 30, 2031.

The Seller shall deliver the Vessel to the buyer at the Miami Yacht Club 1001 MacArthur Causeway, Miami, FL 33132. The Seller shall deliver the Vessel along with its registration certificate and other necessary documents to the Buyer. Delivery shall be made on the date specified above.

The Seller warrants title and ownership of the Vessel and has full rights of its disposal. The Seller further warrants that the Vessel is free from all and any defects, liens, and encumbrances.

GOVERNING LAW

The terms and conditions of this Agreement shall be governed by the State of Florida.

The terms and conditions of this Agreement shall bind the Parties herein upon its execution.

Signature *

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Tips for buying or selling a boat 

Buying or selling a boat can be an exciting yet daunting prospect for any boater, to guide you through the process here are our top tips..

Whether purchasing your first boat or selling one you’ve owned for years, there’s a few key factors to consider.

Just like when purchasing a house, it’s important not to get swept up in the romance of buying a boat and instead look at the practical and financial implications.

However, unlike when buying a house, the law does not stipulate a process for the sale and purchase of boats.   

The finer details

The sale of second-hand boats usually occurs between two private individuals and is often conducted via a broker, who acts as an agent for the seller. 

VAT is not chargeable on the sale of second-hand boats between private individuals, but VAT is charged to the seller for the services rendered by the broker. The broker will usually charge the seller a commission for these services.

Prior to entering into an agreement to buy a boat, the purchaser will wish to make sure that the seller legally owns the boat and has the right to sell it. They’ll also ensure that the boat is not subject to any mortgages, debts or charges etc.

What if the boat is subject to a mortgage?

If the boat is subject to a mortgage the RYA recommends that the purchaser have a 3-way-conversation with the seller, themselves, and the lenders.

It’s often the case that the purchaser will pay the proportion of the purchase monies outstanding on the mortgage, direct to the lenders. 

The lenders will more often than not hold the title documentation for the boat and upon redemption of the outstanding mortgage, release the title documents direct to the seller/purchaser.

Does it comply with Recreational Craft Regulations? (RCR)

If you’re purchasing a boat, it’s vital to see a copy of all title documentation and be confident that the seller does indeed own the boat, that the boat is VAT paid or exempt.

It’s important to ensure the boat is compliant with the Recreational Craft Regulations (RCR) if the boat is the UK, or the Recreational Craft Directive (RCD) if in the EU. 

The requirements have changed and it’s likely that if you buy a boat in one territory and export it to another, it will need to undergo a post construction assessment.

Information on this is in our RYA RCR and RCD Guide for Boats .

What paperwork do I need when selling my boat?

When selling, make sure that you have your paperwork together, the main documents that you’re likely to be asked for include:

• Evidence that the boat is VAT paid, such as the original invoice
• Registration documentation
• Evidence of RCR/RCD compliance
• Service information for the engine, generator, sails, water heater
• Builders Certificate (not essential but helpful)  Bills of Sale
• Owner’s Manual and further manuals for all the equipment on the boat with financial records and receipts of any large repair bills

Sale and Purchase Agreement

Whilst verbal agreements between parties are perfectly valid in law, they are notoriously difficult to prove, and any disagreement will come down to one party’s word against the other. 

For this reason, the RYA strongly recommends that a written Sale and Purchase Agreement is used on all boat purchases.

RYA members can access the online RYA Sale and Purchase Pack , which includes a Sale and Purchase Agreement template with a step-by-step guide to buying and selling boats.

Practicalities

We also recommend buyers have a survey carried out on a boat prior to finally agreeing the purchase, especially if the boat is second-hand and being sold privately. 

In most cases this is the only way to check the boat’s condition and the results will often determine whether a sale proceeds smoothly, has its terms renegotiated or terminated. 

There’s also no better way to know how a boat will react when in the water than by conducting a sea-trail. 

You may want to consider boat insurance, although it is not compulsory in the UK.

Here to help

The RYA legal team offers expert advice for RYA members in relation to buying and selling a boat privately or through a broker.

For further information and resources on buying and selling a boat visit our knowledge hub or pick up the RYA Boat Buyers Handbook .

Not a member? Find out how an RYA membership could benefit you in buying or selling a boat.  

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• “NT-MDT” Limited Liability company (LLC “NT-MDT”) Research, development and production of the scanning probe microscopes (SPM) and systems combining the AFM methods and optical spectroscopy (AFM-RAMAN, AFM-nanoIR) and development of the software to them.

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