You can enter into your own boat purchase agreement or use a form that can be provided by your state (try searching online for the “Michigan Boat Purchase Contract.” If you find a form, there will probably be details about your status. Some states require that the contract to purchase boats be notarized by the buyer and seller. If your country does not require the use of a particular form or offer a form, you can use a general boat purchase contract, as it is returned to: 4% for purchases at West Marine branches or online for WestMarine.com If a trailer is sold with the boat, it is also indicated separately with its vehicle identification number (VIN). The agreement is expected to include a separate selling price for the boat, outboard engine and trailer. The agreement should also include all co-sales of accessories or equipment such as electronics, trolling engines, replacement accessories and serial numbers, when available. If you sell the boat, items that are not included in the sale may be included as “excluded” in the sales contract. It is not necessary to let a lawyer write the contract, even if this should be considered, especially if you are buying a high-ticket boat or if you have built one tailored for you. Most merchants use printed contracts with their name and address, but “Fill-in-the-blanks” contract forms found in stationery stores or online is sufficient for private sale. (Or click here to download the BoatUS sales contract.) A chord in hand also serves the purpose. Whatever the form, both parties must sign the contract.

If the sales contract requires the signature of the seller and the dealer`s employee, make sure both rooms are signed. Financial institutions often regard boats as luxury items, which is why the application process is more like buying a home than buying a car. As part of the insurance process, many lenders will apply for a personal financial statement with tax returns. For used boats, a tax return is often required. Conditions of up to 20 years with down payments of between 10% and 20% are common, but prices and conditions may vary depending on the age, size, type and use of the boat. It is a good idea to talk to potential lenders before you complete a credit application. BoatUS Magazine, an award-winning company, is the official publication of the United States Boat Owners Association. The magazine offers startup capabilities, DIY maintenance, security, news and more by leading experts. The contract to purchase boats can be executed before the sale is final, usually with a security deposit, with contingencies that could include securing financing or the vessel going through a mechanical inspection, marine inspection or marine test. If problems arise, for example.

B a repair that should be made, these terms can be negotiated and defined in a new contract, or the buyer can leave with a refunded deposit. The HIN must be marked definitively on the transom boat at the port. If the boat is powered by an outboard motor, it must be indicated separately with its serial number. A written agreement will eliminate or minimize issues and problems that could later enrage a cute agreement in the court of the accused. By specifying the obligations of the buyer and seller, as well as the time frame within which the sale is to take place, you have a legally binding written document on the intentions of the parties. Sales contracts or contracts should contain the following minimum information: In some states, a boat sale voucher may not be necessary to close the sale, but the use of a sale is a good idea because it provides proof of the details of the transaction.