Conditions of Sale, Boilerplate

[dancing bear]

I am selling the MacGregor 25 and am preparing a receipt. What conditions of sale should I note on my receipt? All I have really have so far:

The boat is being sold as is.
​

Any other ideas, thanks for the help. Do I worry too much?

 

[Phil Herring]

I think I remember seeing a Bill of Sale form that Warren uploaded into the Owner Mods section:

http://sbo.sailboatowners.com/index.php?option=com_mtree&task=viewlink&link_id=5990&Itemid=257

 

[caguy]

Standard warranty to the end of the driveway.
My idiot brother-in-law sold his small water ski boat for $3k because it wasn't running right. He told the people this in a verbal contract. They gave him $1500 down and $500/month until paid off also verbal. He was holding the pink because in his words ''he is nobody's fool''. They never made a payment on it but they did park it on the street for which he got tickets in the mail costing him over $400 since the boat was still in his name. He tried to find the people but they had move and were screening his calls. While driving around Redlands he spotted the boat chained to a tree in a small field. The moron then figured he had every right to repossess the boat. So in the middle of the night he took his bolt cutters and reclaimed the boat. The couple showed up the next day at his door with the police. Now he could be charged with grand theft if it weren't for the good nature of the couple to let the incident go in exchange for the pink slip. At this point my moron-in-law decided that the outstanding $1500 was not worth the hassle, So he gave them the pink so they left with the boat and their new pink slip. Expensive lesson? No wait it gets better. Two months later they sued him in small claims court for $4k worth of repairs to the boat. Still afraid he could be charges with grand theft he figured that he need not show up to court to fight it and he would stiff them the way they stiffed him. A month after the judgement his business account was frozen and drained.
Paranoid, Dancing Bear? I don't think so.
BTW ,My sister is happily divorced and he is now known as my brother-in-jail. The irony is, he is doing 2 years for contracting with out a contractors license.

 

[dancing bear]

Ouch. I did get some good tips from Warren's example, which was more complicated than my needs. I adopted the following:

Buyer has viewed and inspected the boat and accepts it in as is condition.
Seller is legal owner, the title is free and clear and complies with the laws of the state of Illinois.
The buyer is responsible for taxes, fees, registration and insurance as of the date of sale.
The contract is binding on both parties.

 

[Stu Jackson]

Why'd it take her so long to get rid of him?

 

[Stu Jackson]

Comments on Bill of Sale

Warren's very good proposed contract states:

SEA TRIAL: The vessel shall be made available for a sailing and motoring sea trial to the Buyers satisfaction, unless otherwise provided herein.
SURVEY: The vessel shall be made available for a marine and engine condition surveys to the Buyers satisfaction at the Buyers expense, unless otherwise provided herein.

One of the things MOST folks do about these is "figure" they can negotiate the price down if (and when?) they find something wrong from either or both of the sea trial and the survey. However, nothing is mentioned in this contract about that. My PO was VERY clear that his price, which we did negotiate down from his original advertisement, was NOT to be affected from these two events. Knowing the boat after my own two hour long survey, and having had a survey done on an identical vessel only a few months earlier (and knowing exactly what to look for since I was with the surveyor that day), I personally was comfortable about that.

I recommend additional wording, similar to the following to permit a negotiation of the agreed upn price after the trial and survey:

Buyer & seller both agree to reduce the agreed upon sales price to repair defects discovered during the sea trial and the survey. Such reduction may or may not be equal to the repair costs developed from said discovery.

Any comments or ideas?

 

[caguy]

Why'd it take her so long to get rid of him?

The wheels of justice move slowly but with determination.

 

[Peggie Hall HeadMistress]

It's a Bill of Sale, not a receipt

This is the form I used when I sold my last boat (and previous boats too). There was no mortgage on the boat:

Date:___________________



"Margaret W. Hall , of 5319 Littlebrooke Court, Dunwoody, Georgia 30338 (“Seller”) hereby agrees to sell to Melvin W. Meeks of 5102 Dunwoody Gables Drive, Dunwoody, Georgia 30338 (“Purchaser”) a boat known as a 1980 Trojan F32, HIN TRJ001170879 (“Boat”), for the sum of $48,000.00 (Forty-eight thousand dollars and no cents). Additionally, Purchaser agrees to pay 50% of the 2001 ad valorem tax when due.

"Seller warrants that there are no liens or other encumbrances against the Boat.

"It is understood that the Buyer purchases the Boat, including engines, generator and all other systems and included equipment “as is,” not subject to any conditions whatever, and that the Seller does not issue any other warranty, expressed or implied."



Signed by both seller and Purchaser and witnessed.

Mine was a twin engine power boat. Since yours is a sailboat you'd change it to include sails engine, maybe rigging...I dunno. The important thing is that you include your name, the buyer's name and the boat's HIN and state that the buyer is buying "as is" with no warranty expressed or implied.

 

[sloopy]

I just used this on a recent sale.
"Sold as-is, where-is with all its faults."

Just like a bank owned proerty.
sloopy

 

[dancing bear]

With trailer-sailers, in Illinois, in February, it is assumed the sea-trial will not occur. I don't know of anyone that has paid for a survey on a $5000 boat. The check cleared, my boat pulls out of the driveway on Sunday. That was easy.

 

[CalebD]

Dancing Bear,
Certainly a sea trial with a trailer sailor on frozen lake Michigan is out of the question.
If the buyer had wanted a survey then it was up to them to hire a surveyor or do it themselves and accept the consequences. I think that many times when people buy less expensive boats they will not or do not want to spend the extra money.
It sounds like you got the price you wanted for the boat, engine & trailer. I would be happy if someone offered me $5k for my 1967 Tartan 27' not that it is for sale. Have you offered to show the new owners one day or afternoon of your time to show them what you know about setting up the boat, launching and a little sailing? That is, if the new owners even want that kind of help. Since they are new to your old boat there will be many things that you could show them.
What will your next boat be?

 

[dancing bear]

I agree the survey is the buyers call. I suppose I could be a jerk, and say no, but then I could expect to not sell it. He is taking the boat too far away for me to help him out much, but there are a large number of hints I will share on the way out.

I am looking for a Hobie Cat 18, or similar sized Prindle or Nacra. My kids find the monohull pretty dull, and I need to raise the excitement if I want to raise sailors. For example, the older kid (9) has been signed up for sailing camp at the Chicago Yacht Club and he is pissed!

About seven people contacted me about the boat in three weeks. I advertised on this site, craigslist and on sailboatlistings.com. Three of the seven actually came to look at the boat. Buried in snow, and needing the bottom paint touched up it could have been displayed better, but again it is cold out there.