Quinlan

iTrader: (1)

What ^^^^ He said LOL

Rattlesnake Jake

iTrader: (2)

I don't drink & drive and I never let work interfere with my drinkin..

BTW I always buy 2 of JW Black.

Speedracer29

If buyer is getting a loan, some banks and CUs will just write the loan on a purchase agreement, deposit funds to buyer account, and leave the rest up to buyer and seller to hash out. Buyer is on the hook for the loan anount whether or not a sale takes place. You can even do cash transactions if there are branches in both locations, but you will have to call ahead so they can have cash on hand and someone to write a release of lien if there is a current loan. If its over $10k, CTR reports will have to be done as well.
One piece of advice, leave insurance on sold boat for the legally determined transfer window, and make legible copies of signed title and BOS for trailer. Buyer will be titled owner upon sale, but seller is still registered owner in some states until transfer window expires or registration is updated. "Jointly and severally" lawsuits suck!

Experience: 2012 purchase in MI, 2013 sale in MI, 2013 purchase in SC, 2014 sale in MI, 2014 purchase in FL. A one hour drive is my fantasy.

Knot 4 Me

Would the bill of sale need to be notarized to be legally binding? Curious as I will be selling my boat this spring. It's been 10 years since I sold a boat and I can't remember exactly what I did last time.

F-2 Speedy

iTrader: (6)

I've asked in two other states besides KS and was told it did not need to be notorized, but there's always that one state

Speedracer29

That's out of my wheelhouse and above my pay grade for 49 of 50 states, which is why I leave the insurance on for a couple weeks. If something happens, let the insurance co.'s lawyers subrogate and determine liability while I enjoy the next boat.

If you do the transaction at a bank, there's generally a notary there, anyway.

Rattlesnake Jake

iTrader: (2)

Sold my 336 last fall,buyer from Virginia Sent him all the info he needed on the boat along with bunch of pictures. We agreed on a price, he came up with a bank check made out to me. He inspected the boat, I fired both engines, he hooked on to it and 12 hours later he was home. I left insurence on the boat and NY plates on the trailer. He didn't get any paper work (Titles etc.) until the check cleared. He was and still is a happy person.

formula223

contracts and buyers agreements are not required to be notarized to be legally binding says Mac the lawyer.aka Formula 223

glenncal1

My GF is an hour drive from me so I have to drive an hour for a good piece of.......





Pie. You guys thought I was going to say AZZ

bobkatz

I wouldn't worry too much about a formal sale contract because even if he signs it you can't force him to buy it if he wants to back out. The "contract" will just be used to clarify the terms and conditions and that can be done on a sheet of copy paper. Good Luck!