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A boat bill of sale form is a legal document form that records the process of change of ownership of a watercraft. This document is mandatory in most jurisdictions for registering a watercraft after purchase, regardless of whether it is motorized or not.
How to Sell a Boat Step-by-Step Guide
Step 1 – What Will be Included
Determine the inclusions, such as outboard motor(s), trailer(s), life jackets, and gear, which can impact the final sales price.
Step 2 – Determine the Value of Your Boat
Research the boat’s exact make, model, and year to understand its market value. Use online listings or consult with experts for an accurate estimate.
BStep 3 – Listing the Boat for Sale
- Hire a Broker: If the boat is expected to sell for more than $40,000, consider hiring a broker at a local marina. They will list it for its fair market value.
- Sell By Owner: If the total value is under $40,000, consider selling the boat yourself.
Listing a Boat for Sale: Recommendations
Top websites/apps to buy and sell boats:
Step 4 – Presenting the Boat to Buyers
Ensure the boat is easily accessible to potential buyers, preferably stationed at a dock for an accurate representation. If docking is impossible, consider positioning the boat on land for viewing.
Step 5 – Completing Negotiations
The buyer and seller must sign the form.
Step 6 – The Transaction
At closing, the buyer must provide payment, while the seller must deliver the signed title and current registration documents.
Step 7 – Buyer Registers the Boat
After the sale, the buyer must register the boat to complete the ownership transfer.
Signatures and Payment Details
When the bill of sale is signed by both the buyer and the seller involved in the transaction, the sale is considered final, even if the buyer has not yet paid the seller. Therefore, it is highly recommended that the seller does not authorize the bill of sale until the buyer has paid the full amount.
Coast Guard Documentation
US Coast Guard Boat Documentation: Website