Planning to sell your boat and not sure what paperwork you’ll need? Our simple guide makes it easy!
At Hunts Marine we know that people sell their boats for a variety of reasons, whether you’re trading up to a bigger or newer boat or just taking a break from boating. When selling a boat, it's vital for both parties to have the correct paperwork ready to avoid future headaches.
Let's explore some of the documentation you’ll need to sell your watercraft
Changing registration 101
To sell your boat you’ll need your registration papers as well as a recreational boat transfer form. Your local government likely houses this form on their website or through their department of transport. Before buying or selling a boat, it's always important to check with your local governing body to see what paperwork is needed, and more importantly, who needs to fill it out.
A transfer of ownership form may be filled out by either the seller or buyer depending on what the government needs. It includes information such as the registration or serial number, expiration date and hull identification number (HIN). In NSW, for example, the seller or buyer must obtain a pink HIN Certificate unless one is already on record on the Boat Registration Certificate.
This paperwork also includes all essential information about the seller and buyer, along with a final declaration that proves both parties consent to the transfer. The transfer paper is by far the most important document during the sale process and a copy should be kept by both buyer and seller as proof of the transaction.
Don't forget the sales receipt
While the above paperwork seemingly houses all the important sales information for a watercraft, it's not the only document that should be included in the transaction. Boat.com recommends sellers also draft a separate bill of sale to track the payment. This document will highlight how much the buyer paid for the boat and further serve as a proof of payment should questions arise about cost and transferring registration.
Additionally, the previous owner should consider bringing any maintenance records and warranty documentation to the table during the sale. This not only helps the new owner understand which parts are new and which may need maintenance in the future, but it's important for managing expectations and avoiding future accusations of broken parts!
Online channels make life easier
Some states are making it even easier to transfer said ownership by taking the process online. While it's still important to have copies of the transfer documents and sales receipts, in Queensland both sellers and buyers may be eligible for transferring their vehicle and boat ownership online (as they can for registration renewal). This option is a convenient way to transfer registration to a different name, just make sure to do so within two weeks from the date of the sale.
After the sale and handing over all the proper paperwork, don't forget to tie up any loose ends with your insurance carrier, the department of transport and your local docks. It's important to inform all applicable parties that your boat has been sold so they can update their records and will never confuse it in the future.
If you're trying to sell your boat, forego the advertisements & hassle and contact Hunts Marine. We purchase used boats for cash and are always on the lookout for watercraft of all makes, models and sizes to add to our inventory. Just complete this form today to receive a valuation to see what your boat is worth – and if you proceed, we’ll have the cash in your account within 24 hours of your boat coming into one of our yards! Find out more at Hunts Marine