Why it's important to use a qualified broker.
SELLING A BOAT SHOULDN'T BE STRESSFUL, BUT THE PROCESS IS MORE INVOLVING THAN MEETS THE EYE! The reality is there is much more to do than simply advertise your boat and find a buyer. Negotiation is stressful and when you are selling your pride and joy, emotion quickly gets the better of an achievable sale. This process may start again following survey! A broker is there to take away the stress and get to a positive outcome. Miles Stratton Marine will manage the contract and resolve any issues that may otherwise get out of hand. A buyer will expect things of you that are hard to deliver, highlighting the importance of a professional intermediary. Insulating yourself from the process brings a better result.
BUYING A BOAT SHOULDN'T BE STRESSFUL EITHER, BUT IT ISN'T THE SAME AS BUYING A CAR!
Miles Stratton has helped many people through the problems they've inherited from buying a boat privately, or from someone in the ownership trail buying privately.
It is more common than not for a private purchase to be processed incorrectly. Sometimes it can't be fixed, sometimes it is a costly mistake, sometimes boats are left being unable to be legally resold! A broker is there to make sure a purchaser is represented too, so make sure a broker is involved.
Our advice is to always have an experienced broker involved whether selling or buying.
Legal Title
This can be quite complex and isn't as obvious at it seems. It requires an experienced eye, especially where boats have, at some time been transferred in partnerships, within families, through divorces, wills/estates, businesses or finance.
It is very easy to mistake a seemingly clear title path for one that isn't.
We are here to make sure that doesn't happen.
VAT Status
All boats built after the 31st Dec 1984 must be able to prove their VAT status under HMRC rules. Boats built prior to this must be able to prove when they were built and where they were on the 31st Dec 1992 to be given amnesty.
Proof is needed or a tax liability exists.
Also, whilst we are not tax experts we are happy to give our view on -
Importing boats to the UK or taking boats into Europe and beyond.
Best Advice
A good broker will always give sellers and buyers best advice. Clarity at the time of listing and clarity when purchasing. If a paperwork trail is incomplete we will help fix it, if we can't we will give advice on the implications for both parties.
RCD (Recreational Craft Directive)
With few exceptions boats between 2.5-24m brought into the UK or first sold in the UK after the 16th June 1998 must comply with the RCD or they cannot legally sail in UK waters. We can make these checks.
We won't list boats that do not comply. But will give advice on how to go about it.
Pitfalls (what we ensure is correct)
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Clear title is not always obvious; it needs rigorous checks.
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Establishing if a boat is RCD compliant is a must.
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Is the VAT trail what HMRC require?
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Does the seller know what is required or just think they do?
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Buying a boat privately has few checks and balances.
Process
A broker manages the selling and buying process from start to finish.
Much like a house selling agent but also doing the part of the seller and buyer's conveyancing teams.
We make sure the rights of both parties are protected, and the process is handled correctly. Stress Free!