Thinking of selling your boat?
Are your title documents in order?
If you are ever planning to sell your yacht it is important to provide the buyer with a full set of documentation. It will not only speed up the process but secure you a better price too. Chris Ibbotson of Waterside Boat Sales at Haslar Marina says:
If you are thinking of selling, can you answer these 5 simple questions -
- Do you have 5 years clear title evidenced by Bills of Sale?
- Do you have evidence of your VAT status either with an original purchase invoice or HMRC exemption letter?
- Do you have the original Builders certificate showing your yachts hull number?
- Do you have your RCD certificate, required for all boats built or imported into Europe since June 1998?
- If conducting a sea trial are you aware the new IPV code of practice? This came into effect on January 1st 2019, requiring both brokers and owners to be compliant.
It is important to use a broker who is a member of the Association of Yacht Brokers and Yachting Agents (ABYA). ABYA brokers work to a code of practice, are insured, use client accounts to handle the proceeds of a sale, ensure that boats for sale are offered with correct title and that the new owner possesses clear legal title at the end of the process.
Waterside Boat Sales and other ABYA members will check the legal paperwork so the boat is offered for sale with correct title, RCD and VAT status evidence, and use the latest ABYA and MCA title documentation to complete a sale.