I don't think he'll have to actually pass papers on the boat right now... as long as he has a deposit down, given the market conditions right now... that may be enough.
I'd highly recommend making a trip to the boat and following the information in this post to determine if there's reason to proceed further... 
__________________
Sailingdog
Telstar 28
New England
You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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POST.
Still—DON'T READ THAT POST AGAIN.