Guide
What to check before a price is agreed
Updated
Some problems change the price and some end the transaction. The second kind are cheap to check and expensive to discover late.
Documentation and title
A federally documented vessel has a record held by the Coast Guard's documentation function, and state titled boats have their own records. Establish which applies and confirm the paperwork matches the boat, including hull identification.
A mismatch here is not a negotiating point; it is a reason to stop until it is resolved.
Liens and outstanding finance
Money owed against a vessel can follow it. A lien search before a deposit is a small cost against a large exposure.
Ask the seller directly and then verify independently. Both are normal and a straightforward seller will expect it.
Dockage, storage and yard bills
Unpaid yard bills can give rise to claims against the boat itself, and a boat sitting in a yard with an unpaid invoice may not be leaving.
Ask for evidence that accounts are clear before completion, not after.
Survey, then price
Commission the survey before agreeing a final number where you can. A price agreed subject to survey invites a renegotiation neither side enjoys, and the seller has already emotionally banked the first figure.
Where the seller has a recent survey, read who commissioned it and when. It is useful information, not a substitute for your own.