fund razor

Looks like a guy from Lake Ontario wants my old boat.

He was going to bring a bank check drawn on a US bank. Didn't want to bring the cash through customs.

Anything I should look out for or be aware of with this deal?

Thanks.

fund razor

Come on bankers, brokers, dealers, state department....

powerguy

Make sure that you are paid in real US$ not those funy Canadian ones

fund razor

Ok, that part I've got. I was thinking more along the lines of rules or risks because of the customs, and recourse in case of problems with the check.

He says he is going to do his exchange there, and get a check from a US bank.

Should that cover me?

It's only a 6,000 dollar boat. (US)

Cord

iTrader: (2)

I sold my old boat across the line. He handled most of the paperwork, the only thing that he wanted in addition to the title was a bill of sale with all my contact info. I never heard back from him, so things must have gone smoothly.

fund razor

Thanks guys, that's what I figured, but there's a lot of knowledge here, and I wanted to avoid trouble.

Have a good one.

GregP

So many bad checks these days, I'd have him setup a wire transfer. He can set it up so all he has to do is fax them the final ok when he's at your place. I have a seperate, always empty, account we setup just for incoming wires.

-Greg

Bam Bam

I bought my last boat in the US and imported it into Canada. Here is what he needs to do.

1. Have a bank draft done in U.S. dollars (which sounds like he already has). Customs doesn't even care about the bank draft, but will care about the cash.
2. He will need to get the ownership/title for both the trailer and the boat from you. He must have these to be able to get across the border with the boat.
3. You need to provide him with a bill of sale which he will then pay Provincial sales tax (PST) and Federal Sales Tax (GST) on the value of the boat which is 15% of the purchase price. He will only pay GST at the border for the trailer (7%) but will pay the PST(8%) when he licenses the trailer.
4. He will be given a form at customs that will tell him that he has 60 days to get the trailer saftied before he can license it. He will likely have to add some additional lighting the trailer to adhere to canadian rules, but this will be explained in the package given to him.
5. As part of the process to get the trailer saftied, he will need a signed letter from the trailer manufacturer stating that trailer does not have any recalls on it, or if it does, itemize what those recalls were and he will need to prove that they were completed.

He will not have to pay duty on the boat or trailer if they were both manufactured in the US.

That is it. It is not that difficult and I will probably do it again when I buy my next boat. He does not need a lawyer or broker to do this.

fund razor

Hey Bam Bam,

Thanks for the response. He said pretty much the same. He's from Missisauga (sp?).

Question: We don't title trailers in OH, just the boat is titled, and the trailer is registered to get plates.
Will the absence of a trailer title create a problem for him, even if he has a bill of sale for both? I would think no.

Bam Bam

Mississauga, is close to where I live and work. If you don't title trailers, he will need some kind of proof that you owned that trailer and transfered that ownership to him. So if you sign over the trailer registration to him, that should be fine, he should double check with customs to make sure though.

Ultimiately, he needs to prove that you owned the trailer to begin with and that it has now been transfered to him. A bill of sale will only prove that you sold it to him, but not that you owned it orginally. They are just trying to make sure it is not stolen.