If you`re in the market for a boat and have found one that you`re interested in purchasing, it`s important to make sure that you have all the necessary paperwork in order. One of the most important documents you`ll need is a boat purchase agreement.
A boat purchase agreement outlines the terms of the sale and protects both the buyer and the seller. It`s important to have one of these agreements in place to avoid any potential disputes down the road.
If you`re not sure where to start, here is a sample boat purchase agreement that you can use as a template:
[Insert date]
[Insert buyer`s name]
[Insert seller`s name]
[Insert boat make and model]
Purchase price: [Insert purchase price]
Deposit: [Insert amount of deposit]
Payment terms: [Insert terms of payment]
Boat condition: The boat is being sold “as is” and the buyer accepts the boat in its current condition.
Title: The seller warrants that they are the legal owner of the boat and have the right to sell it. The seller will provide the buyer with a clear title at the time of sale.
Boat transfer: The seller will transfer the boat to the buyer upon receipt of full payment.
Boat delivery: The buyer acknowledges that they are responsible for the transportation of the boat from its current location.
Boat inspection: The buyer has inspected the boat and accepts it in its current condition.
Boat warranty: There is no warranty on the boat, and the buyer accepts the boat in its current condition.
Boat taxes and registration: The buyer is responsible for all taxes and registration fees associated with the purchase of the boat.
Closing costs: The buyer and seller will split the closing costs of the sale.
Dispute resolution: Any disputes that arise will be resolved through arbitration.
This is just a sample agreement and may not cover all the necessary details for your specific boat purchase. It`s important to review and adjust the agreement to fit your individual needs.
Remember to have a qualified attorney review the agreement to make sure it is legally binding and protects your interests. With a boat purchase agreement in place, you can enjoy your new vessel with the peace of mind that comes with knowing everything is in order.