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Guidance on Buying and Selling

If you are considering buying a boat, you are probably considering making what, for most people, is a significant financial investment

Buying a boat may be a significant financial commitment. The RYA has the following guidance available

Firstly, you need to decide what you want to use the boat for and where you want to go? The answers to these questions will help you decide what boats belong on your short list. This will give you an idea of the budget you will need. Not only do you need to have the money for the boat itself, you need to be able to afford the ongoing running costs, insurance, maintenance bills and the mooring fees which can be a considerable sum of money each year.

You may have decided to go for a new boat, in which case, just like a car, watch out for the extras, there is likely to be a significant sum, above the list price that needs to be spent before the boat will be ready to go.

If you've selected a model only available second hand, you then need to find it up for sale, which may be privately or through a broker. View the boat, make your offer, have the boat surveyed and assuming you are able to negotiate satisfactorily on any problems the survey may highlight you could quickly be a proud new owner, but beware, buying second hand has its pitfalls. Unlike a car there isn't a legal registration document tracking the ownership, in fact unless you want to take your boat abroad, you are not required to register your boat at all and many people don't, so checking that the person selling the boat actually owns the boat and that there are no outstanding loans secured on the boat can be difficult.

We are also here to help sellers and the Sale and Purchase Package that we have developed is intended to assist both seller and buyer.

As a member we can provide you with standard Agreements and indeed, we urge you to use one of the standard forms of Agreement for the sale and purchase of new or second hand boats. Copies of these forms can be found in the Buying a Boat Privately Section of the website.  We have produced Guidance to help you check title to the boat. 

Again for members, if you are dealing with a broker you may find the Broker Section of the member's area of interest.

If the boat is a home build or if you are considering buying outside the EEA, you will also need to be aware of the Recreational Craft Directive requirements.

The VAT status of a second hand boat is also important as your boat needs to have VAT paid status to be allowed free transit throughout the EU. It is important to understand that the VAT status of a boat can change during the course of a boat's life. For further information on proving the VAT status of your boat go to the VAT Section of the site.

You should also look at our Safety Section, which gives details of the regulations boat owners must adhere to. After all this you may be thinking you'd just like get in a boat. If so, have a look at our Getting on the Water Section of the website.

For further information contact the Legal Team on 023 8060 4223.  Email: legal@rya.org.uk.

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