Sales Agreements and Contracts

Whether you buy a brand new boat from a dealer or a used boat directly from the owner, outlining the terms of the sale in writing is the best way to protect your interests, since oral agreements are good only as long as both parties agree.

A written agreement will eliminate or minimize questions and problems that could later turn a sweet deal at the dock into a sour one in court. By spelling out the obligations of both the buyer and the seller, as well as the time frame in which the sale is to take place, you have a legally biding, written document of the parties' intentions.

It's not necessary to have a lawyer write the contract, although this should be considered, especially if you are buying a high-ticket boat or are having one customer-built for you.

Most dealers use contracts printed with their name and address, but fill-in-the-blanks contract forms found in stationary stores will suffice. A handwritten agreement will also serve the purpose. Regardless of the form, both parties must sign the contract. If the sales agreement requires the signature of both the salesperson and an officer of the dealership, make sure both spaces are signed.