Buying a powerboat

It could be one of the most expensive purchases you make, so deposits and payments should be protected just as if you were buying a property.

If you are buying through a dealer or from stock, ensure that the company operates a client account and make payments payable directly to that account.

Check that the contract contains a full specification or inventory. If stage payments are used to purchase hull mouldings, engines and equipment, ensure that titles for these items are transferred to you, clearly identified to the hull number, and insured.

If buying second-hand, check to see whether the vessel is subject to a mortgage. If it is, this will be listed on the boat’s registration documents and recorded in the Small Ships Register.

Make a search, just as you would with the title documents for a property. If the boat is subject to a marine mortgage or loan, ensure that this is discharged before completing the purchase.

Title documentation should include:

• Part I Registration
• Builder’s Certificate
• Previous Bills of Sale
• Evidence of RCD compliance
• Evidence of VAT status (in the EU)

Ensure that the contract is subject to a sea trial and survey. When buying second-hand, commission an independent survey. Don’t rely on one provided by the owner.