Selling sailboat privately in US

[portsidecross]

We have a boat registered in Canada but would like to know the ins and outs of delivering and selling it to a buyer in the US. Can anyone give advice as to how to do this. We are wondering the best way to transfer funds back to Canada before handing over the boat. No paperwork has been signed to date and no money has exchanged hands. Thanks!

[rbk]

We purchased a Canadian boat in the states. Not that it affected us but the broker mentioned there was a bond or retainer in place for US taxes and duty should the boat be purchased by a US citizen and remain in US waters, probably a requirement for brokers though. Is the boat is in BC and are you moving it just to sell it? and if so why? If its already there just post ads and find a buyer first then deal with the bureaucracy when the time comes.

[Scot McPherson]

You can use western union to get the money back into Canada and Canadian dollars...otherwise, if you bring an American check to a Canadian bank, they'll deposit it at the current exchange rate...so the money part of the issue should not be a problem at all.


Regarding taxes and all that, that's usually on the buyer to take care of...They bought a Canadian boat, it's up to them to do the right thing and make it a legal US boat.

[Mike OReilly]

Originally Posted by portsidecross

We have a boat registered in Canada but would like to know the ins and outs of delivering and selling it to a buyer in the US. Can anyone give advice as to how to do this. We are wondering the best way to transfer funds back to Canada before handing over the boat. No paperwork has been signed to date and no money has exchanged hands. Thanks!

We did the opposite transaction a few years ago (US Documented boat, bought by Canadians, brought to Canada).

We were required to first unDocument the boat, which was a fairly simple procedure. I believe you will have to deRegister it in Canada through Transport Canada, but you should confirm this (Registered/CND = Documented/USA).

From there it’s simply a matter of the new owners importing their new boat into the USA. They should sail it across and report to the customs office. Officers will assess whatever applicable taxes and duties (which will be zero if the boat was built in North America … if not, then the importer could be charged an import duty — in Canada it is 9.5%).

Getting money back to Canada should be fairly simple. A certified cheque of some sort is how we did it (in reverse).

[rbk]

You can also cash the cheque and 'walk' it back into Canada. You just have to declare it and show proof of where it came from (bill of sale for the boat). This will avoid all fees and exchange rates as any lender or service provider will take their share.

[idylours]

open an rbc us bank account
and an rbc us Canadian acct and transferr funds back and forth online
I work in the US and live in canada it's the best and easiest way to do it

[portsidecross]

Thanks all for your responses. We'll look into it some more based on the info you provided.