Buying a Boat is a Boat-Lover’s dream.
Buying a Boat is usually driven by your love for boating and is often an emotional purchase. While you want to get onto the water as soon as possible, it’s important that you get the right legal advice.
Prior to Buying a Boat you will require a ‘pre-purchase survey’ to be completed by an independent marine surveyor. The surveyor must have recognised credentials and professional indemnity insurance. The survey report is used to check the seaworthiness and condition of the boat. It is also used to check the inventory against the list in the contract. Importantly, the report can also be used as a bargaining tool to lower the price or get some other concession.
You may have found the perfect boat overseas and it’s understandable that you’re feeling uncertain about how to proceed. Before you finalise the purchase the boat’s shipping, customs duty and import taxes will need to be considered to avoid any nasty shocks. We understand your concerns and can advise you on your obligations and investigate whether the broker is legitimate.
Buying a Boat is not the same as buying a house. The potential problems you may face can be devastating such as failing to deliver the boat right through to not securing ownership. What you need is a well-drafted contract that addresses each specific issue.
On completion of the purchase, the next steps are ownership transfer and registering the boat. Depending on your circumstances you may also require commercial registration, drafting charter party or share agreements and marine insurance advice.
At Vaaron-Morel Lawyers our Lawyers have specialised Maritime Legal skills and knowledge to understand your specific needs and the purchase circumstances. By using Vaarzon-Morel Lawyers you and your purchase will be treated with respect no matter how small your boat. The Lawyers who assist you have a complete understanding of the maritime world and it’s this experience that enables you to minimise costs and buy with confidence.