private sale purchase agreement

  • Tim J
    Duluth, MN
    Posts: 539
    #1455959

    I may be buying a used boat this weekend via private sale. What have you done in past for purchase agreements? What things should I look for too make sure my butt is covered? Anyone have a copy of a past agreement they used that I could maybe look at or modify? Thanks

    dandorn
    M.I.N.N.E.S.O.T.A.
    Posts: 3199
    #1456025

    The purchase agreement or bill of sale protects the seller in case the buyer
    doesn’t transfer the title on the trailer.

    Best is to go to the DMV together and transfer the title.

    I did a bill of sale when I sold my last boat because the buyer was from out
    of town and could only make it down on a Sunday. I trusted that he would transfer the title and followed up to make sure he did.

    The buyer’s purchase agreement is cash. There is no warranty on a used boat unless it has a transferable hull or motor warranty.

    So check it over thoroughly before handing over the cash.

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic.