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Buying or selling a boat can be a complicated process. That's why BoatU.S. offers a comprehensive Settlement Service for members. We'll coordinate transactions between buyer, seller and bank. This service is designed for buyers and sellers when there is no boat broker or dealer involved.
- Purchase Agreements
- Lien Searches
- Loan Payoffs
- Transfer of Ownership
- Holding Deposits (if required)
What concerns should you have as a buyer or seller? The essentials should be a purchase agreement, transfer of ownership, lien search, payoff of existing loans and deposit checks. A written purchase agreement signed by all legal owners should include a closing date, deposit requirement and provisions for a refund of that deposit and transfer of clear title. Everything should be in writing. A well-defined purchase agreement is extremely important.
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