Selling a narrow boat

[bristolracer]

Hi All

My step son inherited a narrow boat, which he has had for a couple of years and now wishes to sell.

He may have a potential buyer.
It may sound stupid but how does one sell a narrowboat?
Is there a contract? Will the buyer pay for a survey? Is there a deed of title of some sort?
How does he get his bank to believe that the £50k that has suddenly appeared in his account is legitimate?

Any pointers helpful

Thanks

[Simpo Two]

Boats at that price are usually sold through a broker who handles the money. You just hand the boat in, sign a form and then wait for the money (less commission) to arrive. So if your buyer blows out, consider that if you want a simpler life. Whilst they take a commission, they often start with a higher price so it's not too bad - and you don't have to visit the boat to show people round.

Most buyers like to have their potential purchase surveyed (an out-of-the-water-job); they pay for it. A few hundred pounds is deemed worth it for peace of mind, and their insurance policy may demand it.

There's no title deed like a house, nor a V5 like a car. Just a receipt with all the details on, as if you were buying a car privately.

If the bank asks where £50K came from, tell them you sold a narrowboat, and here is the sales receipt.

On the practical side, most boats need to be 'winterised' to stop expensive things breaking if they freeze. So a quick sale could save a lot of hassle. If it's got to over-winter, he needs to know what to do.

[alfie2244]

Not sure what brokers charge but some marinas ask for a % of the selling price IIRC mine wants 5% when I sell......is it moored Bristol or on the K & A?

[bristolracer]

Thanks for that

He had a chat with a broker, who told him to try to sell it himself first, and come to him if he had no luck.
The people who viewed it yesterday seem keen so who knows, it may go without a broker getting involved.

The boat has just had all its anti fouling done 2 months ago so has all the relevant tickets for water worthiness and so on.

He has had it a couple of years now,so is fairly up to speed on wintering it.
He leaves the Royal Marines next year, so is looking to use the cash towards a house

[telford_mike]

Sold our yacht a couple of years back. You really only need a bill of sale but if the buyer needs some time to raise the cash then a contract can be useful - specimen here: https://www.rya.org.uk/SiteCollectionDocuments/leg...

[Simpo Two]

bristolracer said:

He had a chat with a broker, who told him to try to sell it himself first, and come to him if he had no luck.
The people who viewed it yesterday seem keen so who knows, it may go without a broker getting involved.

The boat has just had all its anti fouling done 2 months ago so has all the relevant tickets for water worthiness and so on.

On narrowboats it's called blacking I believe, but that's nothing to do with a BSS certificate (like an MOT) which is due every 4 years. If there isn't one it will affect the price so for c.£150 it makes sense to get it renewed.

[bristolracer]

alfie2244 said:

Not sure what brokers charge but some marinas ask for a % of the selling price IIRC mine wants 5% when I sell......is it moored Bristol or on the K & A?

Sharpness, which is slightly more 'rural'

As for the BSS certificate, ill ask him, I have a feeling the boats have to have one to secure mooring.

[Searider]

If he’s got a buyer lined up but needs help with the paperwork he might be able to ask the broker to deal with this for him on a fixed fee basis.