Buying - The Process

Choice

Decide what you want your boat for before you start looking. Cruising/Racing? Do you have a young family? Crossing the Solent or crossing the Atlantic? Charter?

Budget

Review your budget and don't forget mooring and marina fees, fuel, slipping and winter storage fees, life jacket, surveys, insurance etc.

Arrange Viewings

If you have seen a boat on the market that you would like to view, give the broker a call and arrange a viewing, make sure the whole family can make the viewing, to see if they are all satisfied with that particular boat.

The Contract

When you find a boat you like, talk it through with the broker, who will provide a sales and purchase agreement that both parties sign.

The Deposit

You will need to place a deposit, usually 10%, which the broker then puts into the Client account, this deposit is fully refundable if there are any issues that get brought up on the surveys or sea trial, minus any costs that have occurred made by the purchaser e.g. fuel for the sea trial.

Finance

If you require finance ensure that you contact a finance house in good time, as the money needs to be available when you reach completion.

Marina Berth

Whilst you're in the process of purchasing the boat, it is important to make sure you have made arrangements of somewhere to berth the boat, for when the sale completes.

The Survey

Arrange a survey (if you choose to have one) the broker cannot recommend a surveyor but they can give you a list of surveyors in the area. The surveyor will then give you a list of dates he can make and they then usually liaise with the broker to make sure the date is ok to make sure they have keys etc. They will report back to you that day if there are any major issues and then provide you with a report on the boat.

Sea Trial

If you require a sea trial, advise the broker when placing the deposit, so they can make the arrangements. You will be responsible for the fuel needed and any lifts required.

Final Checks

Decision made, check the inventory and that the title documents are lodged with the broker. The balance payment can then be paid and once the funds have cleared, completion can take place. The broker will then give you all the title documents and a Bill of sale transferring title from the vendor to you and the keys to your boat.

Insure it!

Don't forget to insure the boat before you take possession. (Please find a list of insurance brokers in this booklet)

Training

If you haven't sailed or driven a boat before do get some training before heading off. It is essential to know the ÔRules of the Road' and have adequate safety equipment. The RYA has a wide range of courses specific to your requirements.

SAIL AWAY!!