Free Boat Bill of Sale
Boats cost tens of thousands of dollars. If you’re selling a motorized or non-motorized boat, you want to make sure that the sale is properly documented. The best way to do this is to employ a boat bill of sale form. It records the sale and includes all the pertinent details so that the buyer and seller are protected during and after the sale.
What Is a Boat Bill of Sale?
A boat bill of sale is a document that contains key information about the sale of motorized and non-motorized watercraft. Typically, this is prepared by the seller. Most states require that it be signed by both parties so that the transfer of ownership can be registered.
Boat bills of sale can be used for the following types of watercraft:
- Canoe
- Catamaran
- Kayak
- Jet ski
- Motorboat/powerboat
- Rowboat
- Sailboat
- Skiff
- Tugboat
- Yacht
In addition, the document will include specific details about the transaction and the item that was sold. It should have specific identifying information about the boat, the date of the transaction, and the purchase price. The sale becomes final, or the ownership is officially transferred, when both parties sign the document.
How to Buy/Sell a Boat
Buying or selling a boat is a rather complex transaction because it involves state and federal regulations that can be confusing due to different jurisdictions.
Generally, sellers follow these steps when selling a boat:
1. Determine the price
As a seller, you have to research the appropriate price for your boat. You need to check how much your boat’s model usually sells for and its physical condition.
On the part of the buyer, they might want to establish a target budget for purchasing a boat, so they can look for a model that fits their budget.
2. Prepare the boat for selling
Just as real estate agents clean up the house to prepare it for an open house, boat sellers must do the same to attract buyers. The boats need to be cleaned inside and out. The seller must repair or replace damaged parts to fetch a good price.
When the boat is spic and span, take multiple photos that you can post on social media and sites where people buy and sell boats.
3. Prepare the paperwork
Now that you’re ready to accept offers for your boat, prepare the appropriate documents to get ready for the transaction. States have varying requirements when it comes to paperwork but among the more important documents are the title and boat bill of sale.
How To Write a Boat Bill of Sale
As soon as you’ve found a buyer for your boat, it’s time to prepare a boat bill of sale.
1. Download a boat bill of sale form
States have varying requirements when it comes to selling and buying boats. One thing is for certain: a boat bill of sale is an important document that serves as a receipt of the sale. Download the right boat bill of sale form based on your state’s guidelines.
2. Determine the date and location of the transaction
If you’re using a template, it should already have the necessary legal clauses. But there will still be spaces that need to be filled out. The top part will require you to input the date when the sale was officially made.
The appropriate county and state will also be reflected in the document. These are necessary information particularly when the new boat owner registers the boat in their county or state office.
3. Identify the parties involved
The next important section that must be completed provides information about the buyer and seller. There are spaces where the names and current mailing addresses of both can be written.
4. Note the purchase price and related details
The parties must agree on the purchase price that will be reflected on the boat bill of sale. The method of payment must be included as well. It should indicate how the payment was remitted whether through cash, check, installments, etc.
5. Provide the specific details of the boat
The seller must provide identifying information about the boat, such as the make, model, year of manufacture, color, size, and more. Other important details are the hull identification number (HIN) and odometer reading. Both parties must decide on the descriptions that will appear on the document.
6. Sign the document
The ownership of the boat is considered transferred when the seller and buyer sign the bill of sale. They must print their complete names, provide their signatures, and write the date of signing.
Many states require that the document be notarized or signed in the presence of at least two witnesses.
