Topic: How to complete private sale?

I am about to put in an offer on a 1975 CO26 through a private sale in Ontario.  Boat looks OK to my amateur eye, other than a number of small dimples in the gelcoat below the water line, but I feel pressured into closing without a marine survey (time of year doesn't permit sea trial either).  Seller is warning that a couple of others are also interested.  He has agreed to take me out when the boat is back in the water and show me the ropes.  He says everthing works fine, and the diesel (6.6 Petter) has been overhauled and works great.  Your advice/thoughts please!

And finally, what is needed to close a private sale?

Re: How to complete private sale?

I was told the same thing when I looked at a boat last spring.  The guy may or may not know possible problems with his boat to tell you or not tell you.  This is all business with money involved.  A marine survey just may save you as it did me on that sell.  A survey will also tell you a mean value for the boat also.  Make sure you get a good marine surveyor and have the sails looked at also as old one can stretch, which I learned the hardway.  Survey will hopefully tell you what is needed fixing and what problems you may have to deal with before the boat goes into the water.  On closure, it was certified checks, half down and half after the papers were in order to hand over.  Others may have a better idea on this. jklee

Re: How to complete private sale?

Thanks, John Lee.  Another problem is that the owner has the sails (2 genoas and 2 mains) stored at his home 250 mi (or 300 km) away.  How long does it normally take to have a surveyor inspect a baot, and how much should I expect to pay?

Re: How to complete private sale?

If the boat is registered, you need a bill of sale with signatures on the special government form so that you can transfer it to you. Cost is $200 or 250. But the boat is probably licienced which is easier and cost is not much. With both of these transfers a problem can be that the current owner did not bother to transfer the paper work to his name and how do you transfer it from some unreachable/uninterested previous owner. You can check current registration online. I do not know about liciencing. My boat had a Petter in it that had been recently overhauled. With pictures to prove it. I quickly knew I had to change it once in the water. His definition of good working and mine were different.

Re: How to complete private sale?

The marine survey time line depends on the surveyor.  The survey I had done in on the boat that I passed over was 4+ hours as he was a good inspector.  The report took a week as he had a weekday job but the report was good.  I can send you a copy if you like to get a feeling what one looks like.  Just e-mail off line with your e-mail address and I will send you it plus another survey on the same boat.  This could be an eye opener on surveyors.  Since I am in the USA, Seeadler is the one to listen to on Canadian registration.  jklee

Re: How to complete private sale?

Thanks for your help.  A reputable surveyor advised me that moisture in the hull and deck can't be accurately measured when it's fozen solid, so they won't do it till spring.  If the boat is still on the market, I'll get a survey done then.  Thanks again.  Tim