Visit our Popular Forums

new-to-sailing · 07-09-2022, 15:27

Hello! I am currently in the final stages of purchasing my first sailboat and just want to make sure there aren't any steps I'm missing before I finalize the transaction. For reference the purchase price is $5,000 and I'm working with a private seller.

1. I met up with the seller inspected the boat myself, and we took it on a short sea trial.
2. I had a surveyor inspect the boat and no unexpected major issues were found. Of course there are some issues as it's an older, cheaper boat, but I expected these.
3. I will be purchasing insurance as well as towing insurance to take effect the date of our transaction.
4. I have the following for our final transaction
- The seller is bringing the original title and will transfer it to me, he will also give me the current registration
- I am bringing a bill of sale we will both sign

Brioche · 07-09-2022, 16:24

It varies a bit state by state, but basically if you are happy with the boat and the price the key bit is that you get title and pay at that time. You will then have to comply with state laws which may or may not require more payments.

sailorboy1 · 07-09-2022, 17:46

The smart thing to do is for both buyer and seller got together to the whether is required to do the transfer. That way you know the title can be transferred before parting with your money.

**Jammer** · 07-09-2022, 18:45

That's more than I usually do for a $5k boat. I mean, it's only $5k, right? You can spend that much getting the propshaft aligned on a larger boat.

Danm1 · 07-09-2022, 18:51

Check your state boat registration requirements online. Some require notarized bills of sail and there are different forms for proof of tax payment.

new-to-sailing · 08-09-2022, 07:04

Quote:

Originally Posted by Jammer

That's more than I usually do for a $5k boat. I mean, it's only $5k, right? You can spend that much getting the propshaft aligned on a larger boat.

Ya with the price being so low the survey probably wasn’t really needed and I’m definitely overthinking things. This is my first boat though so I’m just making sure I cross my Ts and dot my Is. The boat is a 27’ so all the titling and such is required.

new-to-sailing · 08-09-2022, 07:05

Also, I gave a call to the DNR and they confirmed the documents needed for the transfer so it looks live everything’s in order. Like I said just wanted to confirm there wasn’t anything big missing.

Thanks everyone!!

chris mac · 08-09-2022, 07:10

Only thing missing is buying a bottle of your favorite to toast your becoming a boat owner and sailor!
Congrats!

gonesail · 08-09-2022, 07:15

have your dockage and insurance lined up before you buy it.

kd410se · 08-09-2022, 11:36

Quote:

Originally Posted by gonesail

have your dockage and insurance lined up before you buy it.

This will be my plan when I get ready to buy my boat. What I’m gathering from these types of threads and my own research is that if you’re a new or low-time sailor you can just about forget anything 36 feet or more… better to have at least a year’s worth of chartering under your belt and take some courses to show that you’ve had at least SOME proper training (hopefully, anyway…) and THEN go looking for insurance. If you get declined right out of the gate, it appears that things can get exponentially more difficult. Once all that is settled, or at least lined up, then it’s time to find a slip. Only after those two things are settled can you seriously be ready to buy a boat.

For folks who have already been through all the stuff I’m about to be going through, does this sound about right?

cdreid · 15-09-2022, 10:12

Quote:

Originally Posted by kd410se

This will be my plan when I get ready to buy my boat. What I’m gathering from these types of threads and my own research is that if you’re a new or low-time sailor you can just about forget anything 36 feet or more… better to have at least a year’s worth of chartering under your belt and take some courses to show that you’ve had at least SOME proper training (hopefully, anyway…) and THEN go looking for insurance. If you get declined right out of the gate, it appears that things can get exponentially more difficult. Once all that is settled, or at least lined up, then it’s time to find a slip. Only after those two things are settled can you seriously be ready to buy a boat.

For folks who have already been through all the stuff I’m about to be going through, does this sound about right?

It's a $5000 boat.. at MOST you'll want liability.. if that (i wouldnt Not get liability)