Any safe way to buy a boat when neither of you live close? - SailNet Community
 2Likes
Reply
 
LinkBack Thread Tools
post #1 of 19 Old 01-14-2014 Thread Starter
first sailed january 2008
 
northoceanbeach's Avatar
 
Join Date: Mar 2008
Location: California
Posts: 1,408
Thanks: 17
Thanked 15 Times in 15 Posts
Rep Power: 8
 
Any safe way to buy a boat when neither of you live close?

I found my new boat. It's on the hard in Washington. The seller is in a different state and so am I.

How can I buy it safely and get the title and bill of sale?

He does have a friend that lives by the boat that I could meet but that involves me driving 600 miles.

Is there any way to do a safe transaction for both parties without seeing each other?
northoceanbeach is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 19 Old 01-14-2014
Senior Member
 
Join Date: Jul 2008
Location: 34.25n 119.27w
Posts: 467
Thanks: 1
Thanked 5 Times in 4 Posts
Rep Power: 7
 
Re: Any safe way to buy a boat when neither of you live close?

The simple answer is yes, if the boat warrants one, with a broker.
SJ34 is offline  
Quote Quick Reply Share with Facebook
post #3 of 19 Old 01-14-2014 Thread Starter
first sailed january 2008
 
northoceanbeach's Avatar
 
Join Date: Mar 2008
Location: California
Posts: 1,408
Thanks: 17
Thanked 15 Times in 15 Posts
Rep Power: 8
 
Re: Any safe way to buy a boat when neither of you live close?

Ok. How does that work? It's 10k or under if it matters. Not a 300k boat.
northoceanbeach is offline  
Quote Quick Reply Share with Facebook
post #4 of 19 Old 01-14-2014
Senior Member
 
azguy's Avatar
 
Join Date: Jul 2012
Location: Scottsdale
Posts: 564
Thanks: 0
Thanked 15 Times in 15 Posts
Rep Power: 3
 
Re: Any safe way to buy a boat when neither of you live close?

Have you seen the boat, does it involve a trailer..??

Are you not concerned with a survey and sea trial..??

1988 C22 Owner
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
azguy is offline  
Quote Quick Reply Share with Facebook
post #5 of 19 Old 01-14-2014
Senior Member
 
Join Date: Dec 2003
Posts: 1,448
Thanks: 1
Thanked 25 Times in 24 Posts
Rep Power: 12
 
Re: Any safe way to buy a boat when neither of you live close?

I think an escrow company could probably handle it. The following is from the Washington State Escrow Association.
What is Escrow ?
Disinterested Third Party Escrow means any transaction wherein any person or persons for the purpose of effecting and closing the sale, purchase, exchange, transfer, encumbrance, or lease of real or personal property to another person or persons, delivers any written instrument, money, evidence of title to real or personal property or thing of value to a third person to be held by such third person until the happening of a specified event or other performance of a prescribed condition or conditions, when it is then to be delivered by such third person, in compliance with instructions under which he is to act, to a grantee, grantor, promise, promisor, obligee, obligor, lessee, lessor, bailee, bailor, or any agent or employee thereof.
SJ34 likes this.

"Just call me TB"
capttb is offline  
Quote Quick Reply Share with Facebook
post #6 of 19 Old 01-14-2014
Senior Member
 
Join Date: Jul 2008
Location: 34.25n 119.27w
Posts: 467
Thanks: 1
Thanked 5 Times in 4 Posts
Rep Power: 7
 
Re: Any safe way to buy a boat when neither of you live close?

Quote:
Originally Posted by northoceanbeach View Post
Ok. How does that work? It's 10k or under if it matters. Not a 300k boat.
It's less about the price and more about the potential liability. However, at less than 10k a broker would add significantly to the cost. I like the idea of using an escrow company but have no idea what the fees would be or how it would work in Washington.

There is no way I would buy a boat, any boat, without a thorough inspection. If you don't have the experience/expertise to do this yourself then you should hire a surveyor. That is a few hundred dollars you can't afford to save.
SJ34 is offline  
Quote Quick Reply Share with Facebook
post #7 of 19 Old 01-14-2014
Senior Member
 
Join Date: Dec 2003
Posts: 1,448
Thanks: 1
Thanked 25 Times in 24 Posts
Rep Power: 12
 
Re: Any safe way to buy a boat when neither of you live close?

In Washington Attorneys, Banks and Lenders, and Title Companies can also provide escrow services, along with independent escrow companies. They are all regulated however fees are not, you'll probably need to provide your own purchase agreement or sale contract. Might want to shop around a little.
Any attorneys or bankers in the family?

"Just call me TB"
capttb is offline  
Quote Quick Reply Share with Facebook
post #8 of 19 Old 01-14-2014
Reward for lost Kraken!
 
hellosailor's Avatar
 
Join Date: Apr 2006
Posts: 11,449
Thanks: 5
Thanked 131 Times in 128 Posts
Rep Power: 11
   
Re: Any safe way to buy a boat when neither of you live close?

So you've got your state, the seller's state, Washington State, and federal laws all covering this and possibly all conflicting. That means you want it done absolutely right the first time.

You'd need to inspect the boat, survey the boat and engine, seat trial it (normally you pay for that launch and haul) and at least reserve significant escrow so that he doesn't get fully paid until you have all the necessary papers to establish clear title and register the boat. If that means he pays extra for the express title service, or waits the month for title to clear...that's how it goes. If he doesn't want to come do the deal, let him hire a broker or an attorney as his agent.

If the boat is such a steal that you don't care you just have to have it...that's your gamble.

This is a simple contract sale for titled property, a legal aid shop or an hour with an attorney should get you options to cover the specifics. Or, you could call a broker somewhere near the boat, and ask him what he'd charge to handle the details, and what he would guarantee to do--if you hired him as the "buying broker", not the selling broker.

Your money, your choices. But ten k for a pig in a poke, with four legal venues and jurisdictions involved...I'd be careful, unless that's lunch money for you. Too may "Craigslist" scams and other deals going on with 'distant' buyers and sellers.
hellosailor is offline  
Quote Quick Reply Share with Facebook
post #9 of 19 Old 01-14-2014
no longer reading SailNet
 
Alex W's Avatar
 
Join Date: Oct 2012
Posts: 2,309
Thanks: 2
Thanked 140 Times in 133 Posts
Rep Power: 3
 
Re: Any safe way to buy a boat when neither of you live close?

This one?
Pearson 33 sailboat

Just a guess based on what I think you were looking for.

First you want to inspect it in person, then pay for a professional survey, then figure out escrow.

If that is the boat -- is it a shoal draft keel? That isn't a good thing around here. It also sounds like it may be ready for new standing rigging and perhaps new sails. Those are areas that I'd want to have the surveyor pay good attention to (among everything else like wet decks, etc). Looks like it could be a good deal for this area.

I'm no longer participating on SailNet.
Alex W is offline  
Quote Quick Reply Share with Facebook
post #10 of 19 Old 01-14-2014
Senior Member
 
Join Date: Feb 2012
Location: New Orleans Louisiana
Posts: 2,334
Thanks: 7
Thanked 80 Times in 76 Posts
Rep Power: 4
 
Re: Any safe way to buy a boat when neither of you live close?

I would get a broker. Since all they have to do is handle the transaction costs, I would guess that you would only be looking at 4-$500 for this. And frankly unless an attorney deals with this type of purchase regularly it will take this much time in research to figure out what needs to be done.

Just spend an hour calling brokers close to the boat and ask what they would charge to just do the closing. Since the negotiations and boat selection have all been completed.

Greg Rubin
Attorney
Stumble is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Want to buy a used 40-50 live aboard Sail DRTSR Boat Review and Purchase Forum 13 08-22-2013 10:32 PM
Boat yard work how close is too close? johnnyandjebus Gear & Maintenance 12 11-05-2011 07:16 PM
Is it safe to buy a boat in Mexico? mightyhorton Boat Review and Purchase Forum 2 05-28-2007 08:22 PM
Want to buy a Florida live-aboard. newuser Boat Review and Purchase Forum 1 08-14-2001 02:54 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome