Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 07-09-2008, 21:20   #1
Registered User

Join Date: Mar 2008
Location: USA
Posts: 61
Used boat purchase contract, letters of intent, etc.?

Does anyone have some examples of purchase contracts, offer letters, or "letters of intent to purchase pending survey outcome" with appropriate pre-purchase language, etc.? In fact, is there a document repository on this site that allows people to upload/download documents/templates? Would be a great resource. If I find a boat that isn't listed with a broker I'd like to have some documents ready to go. Please PM me and let me know if you have anything. Thanks!
__________________

__________________
sundowner is offline   Reply With Quote
Old 07-09-2008, 21:34   #2
Moderator Emeritus
 
Ex-Calif's Avatar

Cruisers Forum Supporter

Join Date: May 2007
Location: Singapore
Boat: Maxi 77 - Relax Lah!
Posts: 11,514
Images: 4
I have the paperwork we used for a fairly straighforward cash purchase with no escrow.

PM me with your email address and I will send to you.

As always I suggest that you get the docs checked by a legal person if the amounts are significant to you.
__________________

__________________
Relax Lah! is For Sale <--- Click
Click--> Custom CF Google Search or CF Rules
You're gonna need a bigger boat... - Martin Brody
Ex-Calif is offline   Reply With Quote
Old 07-09-2008, 23:29   #3
Registered User

Join Date: Mar 2008
Location: USA
Posts: 61
Sales process and tips...

Also, any advice regarding appropriate sales process, steps, negotiating tips, etc. either when buying a boat through a broker or direct with the current owner would be helpful as well would be greatly appreciated. Like when to make an offer, how to open an escrow account when dealing direct with a seller (no broker), negotiating a lower price pending survey issues, buying something that is currently in foreign waters (does that matter?), etc. Thanks!
__________________
sundowner is offline   Reply With Quote
Old 08-09-2008, 03:36   #4
Registered User

Join Date: Dec 2007
Location: North Wisconsin
Boat: Liberty 28 Custom Cutter - "Native Dancer" For Sale
Posts: 209
Google up some of your terms. Letters of intent are present on some of the brokerage sites to give you a start. There is a lot of info on negotiations, and the rest of the activities associated with buying a boat. You might even go and talk to a broker who has the time and the inclination (does such a beast exist?) to provide info.

We just purchased our own boat without a broker and everything was on the internet.
__________________
Liberty28 is offline   Reply With Quote
Old 08-09-2008, 06:12   #5
Registered User
 
sluissa's Avatar

Join Date: Mar 2006
Location: Pensacola, FL, US
Boat: Westfield UK Kingfisher 20+ - Rabbit
Posts: 402
Images: 4
Send a message via AIM to sluissa
I don't know how much we're talking about here, and if you trust the other person or not, but I just typed up my own simple little contract saying I was going to give a certain amount of money as a deposit towards the full purchase price we had agreed upon, and the price would be paid upon the boat being put in the water and the proof that she would float.

Granted, the amount I paid is a small amount compared to most boat purchases. And it was just a person to person deal, no broker involved. And the guy ended up being very trustworthy and nice.

Overall, the contract ended up being about a paragraph and I just had both of us sign and date a copy for each of us to keep. A lawyer probably could have torn it to shreds, but it might have held up in small claims court(good enough to get my deposit back at least had something gone wrong)
__________________
sluissa is offline   Reply With Quote
Old 08-09-2008, 14:25   #6
Registered User

Join Date: Mar 2008
Location: USA
Posts: 61
Any problems?

Quote:
Originally Posted by Liberty28 View Post
We just purchased our own boat without a broker and everything was on the internet.
Liberty, did everything go smoothly with the transaction or were there any problems with the process?
__________________
sundowner is offline   Reply With Quote
Old 08-09-2008, 15:04   #7
Registered User

Join Date: Dec 2007
Location: North Wisconsin
Boat: Liberty 28 Custom Cutter - "Native Dancer" For Sale
Posts: 209
Sundowner,

No problems whatsoever. We had signed and notarized documents that were right off of a brokers site and everything went accordly. Having said that, I was dealing with two very intelligent and honest people. If I was dealing with some of the boatyard derelicts I've come across from time to time, I probably would have had a lawyer handle the legalities or skipped the purchase entirely.

We'll be in Punta Gorda this winter in our new (to us) boat and the previous owners will be in Trinidad on their new (to them) boat!
__________________
Liberty28 is offline   Reply With Quote
Old 08-09-2008, 17:01   #8
Registered User

Join Date: Mar 2008
Location: USA
Posts: 61
broker's site?

Quote:
Originally Posted by Liberty28 View Post
documents that were right off of a brokers site

Liberty: Can you let me know the url of the broker's site or PM me with it?

Thanks.
__________________
sundowner is offline   Reply With Quote
Old 08-09-2008, 17:27   #9
Registered User

Join Date: Dec 2007
Location: North Wisconsin
Boat: Liberty 28 Custom Cutter - "Native Dancer" For Sale
Posts: 209
Sundowner,

I PM'ed you the info with a copy of the sales agreement I used.

Give "Liberty" or give me....

never mind!!
__________________

__________________
Liberty28 is offline   Reply With Quote
Reply

Tags
contract

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Foreign Boat Purchase john g Rules of the Road, Regulations & Red Tape 18 10-10-2015 02:17
newbie/boat purchase question salty_dog_68 Monohull Sailboats 23 08-03-2008 15:39
Boat Purchase Negotiation Question Lightfin General Sailing Forum 23 25-02-2008 22:45
Contract terms Kipper Off Topic Forum 6 28-03-2007 13:21
Sailing w/Letters of Marque & Reprisal Tripwire Meets & Greets 1 26-02-2003 11:59



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 19:33.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.