How to buy and sell a boat

What kind of boat do I need?

The best way to find the right boat for you is to view a lot of boats! Even boats of the same type can have very different interior fit-outs and it’s these variations that can make all the difference to your day-to-day comfort. While narrowboats have a standard size, for instance, some will boast more storage space, while others may have features like convertible bunks. That’s why you need to step on board so many of them – to get a feel for what’s out there.

Consider hiring a boat first if you’re a total novice. You’ll soon discover if you can manage with a cassette toilet, or can’t live without a pump-out version!

How do I set a budget when buying a boat?

If you plan to downsize, buying a cheap boat may feel like an attractive option. But unless you have plenty of time and skill, be wary of taking on a boat that needs a lot of work. Renovations may end up costing you more than you budgeted for – and take longer than you expect. 

It’s a good idea to view boats that aren’t strictly on-budget too. Different boats may have features that are essential to you already built-in and included in the price. So while a boat may seem expensive to buy, it could turn out to be the cheaper option if you were going to have those things put in at a later date.

How do I get to grips with the boat-buying jargon?

Don’t know your bilge pump from your inverter? We don’t blame you! There’s a whole new language to learn, so before you view a boat or visit a brokerage, have a look at a few online sales pages to swot up. This will help you get to grips with some of the technical terms used during the boat-buying process.

Can I get a mortgage on a boat?

Most mainstream banks won’t give you a mortgage on a boat, even if you intend to make it your permanent home on a residential mooring. This is because you don’t own the land on which the boat is moored. But there are financing options available to budding boat owners, mainly through specialist ‘marine mortgages’ lenders. Contact them to get the best in market deals at your time of purchase.

Do you pay stamp duty on boats?

No, there is no stamp duty to pay when you’re buying a boat, even if you plan to make it your home.

What does ‘sale on berth’ mean?

An important question to ask is if the boat is ‘sale on berth’. If it is, it means that the boat for sale also comes with a residential mooring at a marina. You don’t have to keep the mooring if you don’t want to. But if you do, you still have to complete an application form and pay for your own mooring contract.

What should I do before I put in an offer?

Once you make an offer, things can move very quickly. Unlike buying a house, once you’ve agreed on a price the sale progresses immediately to the contract stage which is binding once signed and usually requires a deposit of 10% of the cost of the boat. With this in mind, you need to be really sure before you put an offer in. Check the terms and conditions of your deposit payment as you may not get a refund if you wish to pull out of the purchase.

What legal aspects do I need to consider before putting in an offer?

You need to see proof that the boat is legally the owner’s to sell, with no outstanding fees or mortgages on it. This can be fiddly, as boats sometimes come with an incomplete paper trail. This is where buying from a brokerage comes into its own because establishing proof of ownership is something they can help with.
You could also ask to see copies of any previous surveys that have been carried out on the boat to help you decide, although you’ll still have to carry out your own survey if you decide to put in an offer. Make sure the offer is subject to survey, and have insurance put in place so your boat is covered as soon as you buy it. Ask your insurer what kind of survey they require so you’ll know how to instruct your surveyor.

Do I need to get a survey on a boat?

You do, paying particular attention to the hull if it’s made of steel. A full-condition survey is the most detailed and, if you’re getting the boat financed, the lender may also ask that you get a valuation survey, too. It’s wise to get your surveyor lined up in advance if you’re serious about buying because some contracts stipulate you need to do this within two weeks of having an offer accepted.

Is the boat your buying in an Aquavista Marina? 

If you're buying a boat through the Aquavista boat sales team then this doesn't apply. However, if you're buying a boat on an Aquavista Marina but the sale is private, the seller will be liable for paying a sale on berth fee. This a percentage based fee which is incurred when a boat is sold within any of our marinas. 

What kind of insurance do I need?

Your level of cover depends on how you plan to use your boat. If you’re going to be cruising any of the UK inland waterways you will need to have a minimum of £2 million third-party cover, according to the ​Canal And River Trust. If you’re living onboard, contents cover is also recommended for your own peace of mind.

How much is boat insurance a month?

Insurance costs will vary according to where the boat is moored and how you plan to use it. At Aquavista, we offer all our berth holders ​20% off insurance with Towergate​.

What other documents do I need?

Make sure you get a receipt, as you’ll need this as proof of purchase should you decide to sell the boat at a later date. You also need insurance, a boat licence and a Boat Safety Certificate.

What kind of mooring do I need?

If you plan to use your boat for pleasure, you could moor your moat in a leisure berth. But to make it your home, you’ll need to find a residential mooring, unless you plan to continuously cruise.

Choosing Aquavista means we can guide you through the process of finding a residential mooring. Many of our beautiful marinas UK wide offer well-maintained residential berths with lots of facilities that make life on board more comfortable.

Find out more about mooring with Aquavista.

How can I sell my boat fast?

Although your boat may have given you many years of happy memories, it’s time to harden your heart and view it through fresh eyes.

How can you make it look more appealing to buyers?

First impressions count, so make sure your boat is clean and decluttered to ensure it achieves the best possible price. Remember, you’re not just selling a boat, you’re selling a lifestyle!

A good quality paint job can make an enormous difference, as can fixing any maintenance issues. Set aside a budget, but only do work that will help the boat to sell - a good broker can help advise you on what will bring a good return on your investment.

Selling your boat through a brokerage will ensure you get lots of viewings and can make sure it’s priced competitively, helping it to sell quickly. A brokerage can also help you through the legal process so you don’t hit any stumbling blocks.

What kind of legal paperwork do I need to sell my boat?

Getting your paperwork together can also speed up the process, so renew your Boat Safety Certificate and dig out previous bills of sale or maintenance logs. You’ll also need to prove that your boat is free of encumbrances, meaning there’s no mortgage or loans taken out against it.

Is the boat you're selling in an Aquavista Marina? 

If you're selling a boat through the Aquavista boat sales team then this doesn't apply. However, if you're selling a boat on an Aquavista Marina but as a private sale, you will be liable for paying a sale on berth fee. This a percentage based fee which is incurred when a boat is sold within any of our marinas. 

How do I protect myself when selling a boat?

Make sure your boat is still adequately insured, even if you’re selling it from a berth at a brokerage. This is because it’s still your property, not the brokers.

Getting the boat surveyed yourself before you sell can also protect you from nasty surprises later on. Your own survey can highlight any defects that will be picked up by the buyer’s survey, potentially stopping the sale from going ahead.

How do I set the right price when selling my boat?

While it’s important to be realistic when selling, remember that ‘priced to sell’ doesn’t have to mean cheap. Just as many people undervalue their boat as overvalue, particularly when they’re keen to sell to avoid mounting costs.

You’ll want a price that gives room for negotiation, and one that you have confidence in. Using a brokerage with intimate knowledge of the market means you know your boat will be competitively priced, right from the start.

Do I have to declare all of my boat’s faults?

Honesty is the best policy when it comes to selling your boat. While it falls on the buyer to do their own investigations to ensure they’re happy with it, you still need to be as transparent and accurate as possible when asked any questions.

Make sure you never misrepresent the facts, and prepare to be asked about the boat’s service history, any upgrades you’ve had installed and its current condition.

Should I use a brokerage to sell my boat?

While selling your boat privately is cheaper because you’ll have no brokerage fees to pay, it can be time-consuming. Boats in a marina brokerage tend to sell much more quickly because there’s a high footfall of customers looking to buy.

A good brokerage company is likely to already have customers dying to get their hands on your craft. They’ll have an onsite presence, meaning your boat will be seen by lots of people, as well as social media and email marketing.

They can also manage viewings, negotiating and all the paperwork that is required to get a boat sold quickly and at the right price. If your time is precious, they’re worth every penny.

What is the best time of year to sell a boat?

Although sunny spring weather is traditionally a good time to sell, there really is no season when it comes to selling a boat. Most buyers are influenced by factors such as their financial position, a life-change such as retirement or their long-term plans.

So anytime is a good time to sell!

Whether you’re buying or selling, Aquavista can help. ​Find out more.