Completion of sale

Once a survey of the boat you wish to purchase has been completed and you’re happy with the outcome, the day of completion needs to be arranged.

Organise with the broker or seller a day for you to meet at the boat so that you can have on physical handover of funds and paperwork. During this meeting you need to ensure that you receive all the documentation relating to the boat and ask for the owner to give you a handover of the vessel.

Yachting Lawyer’s Hannah Cash says: “If you’re planning on keeping the boat at it’s current location, it’s always worth checking that all the marina or mooring fees have been paid and requesting proof of this from the seller.”

You’ll also need to arrange how you’re going to pay for the boat. If the price has been advertised in Euros then you’ll need to get your money converted before the completion of sale takes place.

It’s always wise to move quickly when it comes to this as the exchange rate can be affected if proceedings drag out.

If you have any concerns about physically exchanging money and documents then it may be wise to use a lawyer.

Tips:
• Get your funds converted in advance
• Move quickly else your exchange rate will be affected
• Try and purchase a boat when the exchange rate is in your favour

Please note that this article does not constitute legal advice