The Boat Bill of Sale Form allows people to transfer ownership of a boat from one owner to another.
Additionally, it serves as a record of ownership. A single boat bill of sale form can record multiple items.
For example, if the sale includes a motor or trailer, the document will also provide that information. You can also use a separate trailer sales bill for the additional equipment.
There are a few other names for the boat bill of sale form. Some other names include vessel bill of sale, watercraft bill of sale, and boat sales contract. Regardless of the term, you will need the same form like a boat bill of sale form outlining the sale agreement, preventing disputes, and providing proof of ownership.
The following list of vessel types can be sold using the boat bill of sale form:
- Fishing boat
- Cabin cruiser
Types of Boat Bill of Sale Form
The boat bill of sale form is pre-build documentation proof of a boat transaction that the seller and a buyer fill to record the transaction and show the proof of ownership.
If you ever need a boat bill of sale form, you can easily download any of these four types of boat bill of sale forms from our website:
Bill of sale for a boat
use this simple template if you want to sell a motorless or an internal motorboat. For instance, jet skis, houseboats, canoes, and sailboats.
Download: Microsoft Word (.docx)
Bill of sale for a boat and trailer
this template could be used to prepare a bill of sale for a motorless or an inboard motorboat and its trailer
Download: Microsoft Word (.docx)
Bill of sale for a boat, motor, and trailer
you can use this template to prepare the bill of sale form for selling an outboard motor and trailer. However, even if the trailer isn’t included in the transaction, outboard motors should be listed separately on the bill as they’re not a permanent part of the boat.
Download: Microsoft Word (.docx)
Coast guard bill of sale
this template can be used to prepare the coast guard bill of sale only if the boat is federally registered with the U.S Coast Guard. Then, the transaction will be done by an official coast guard bill of sale.
Download: Microsoft Word (.docx)
Who can use this form?
The following are some parties that can use the boat bill of sale form for convenience:
- A family member
- Dealers in boats
- Boat selling or buying organizations
- Websites that deal with vessels, such as Craiglist and boattrader.com
- Individuals who purchase boats
- Boat buying and selling companies
Key Components of the Boat Bill of Sale Form
When you begin filling out the boat bill of sale form, you will discover how detailed the form wants you to be.
To make the process easier, we will discuss the key components of completing the form:
Date and location of sale
The boat bill of sale form requires you to include the dates and locations of the sale. For example, was it sold on a lot, online, or at your home? Therefore, make sure to list the location and transaction date.
In this area of the boat bill of sale form, the buyer must provide their personal information. Often, it will ask for the buyer’s name, address, and phone number.
The seller must enter their personal information here. The seller should provide their name, address, and contact information.
This area in the boat bill of sale form provides the buyer’s cash amount for the boat and the seller’s boat sale price. If the buyer trade-in an item to balance cash, there are other sections for it.
When purchasing from a dealership, the seller may discount the sale price due to a trade-in. Check the box next to this option in the boat bill of sale form if the buyer must submit an additional dollar amount.
If the buyer is trading in a used boat as payment, here is where the seller will put the information in the boat bill of sale form. First, you will need to find out the Trade-In Manufacturer’s name (vessel’s make), followed by the title number and the year. It is possible to find this information by inspecting the vessel and reviewing the title. This information may also be provided by the hull ID number and the odometer reading of the trade-in.
This section of the boat bill of sale form asks whether the vessel was a gift from the seller to the buyer. A boat seller may gift vessels to private parties, organizations, or businesses. As an example, the seller may decide to donate the vessel to a charity. You must document the seller’s boat value this way if you do so.
This section of the boat bill of sale form will include information about the boat you are selling. You must include the color of the boat and any secondary color, such as the pinstripe. Also, you must add the make, year made, title number, and hull ID number on the document.
This information can be determined by visually inspecting the trailer. VINs are typically found near the front of the frame on a decal, while the license plate is usually found at the frame’s rear.
The seller will also need to provide information regarding the motor(s) on his boat, including the make, year of manufacture, horsepower, and the serial number of each motor. In addition, an identification plate typically found on the side of a motor gives the brand, model, and serial number of the motor.
Boat transactions often include additional items of equipment. A trailer is one of the most common pieces of additional equipment.
If the boat transaction includes it, then it must be listed on the boat bill of sale form. In addition, you will need the trailer’s year of manufacturing, VIN, and license plate number.
The title certificate is an official document identifying the owner of the boat. Thus, the title signifies the evidence of your right to own the vessel and must be included in the boat bill of sale form.
A lien release
A lien is often placed on the value of people’s boats when they owe debts. It may be impossible for the boat owner to sell it to potential buyers if the lien is in place. If there was one put on the boat, you should receive the release form.
The seller should separately list the price of the boat, motors, and trailer. When there are two motors on the boat, add the totals of both in the boat bill of sale form.
Boat sellers should write how much money they expect the buyer to pay them. Totaling the previous entries into one value is equal to this number. Also, sellers should include it in the boat bill of sale form if the buyer must submit sales taxes with the payment.
Boat sales tax status
Boat sellers must declare the tax included in the purchasing price if this has been done. It makes it easy to disburse a report by adding a checkmark in the appropriate spot.
Buyer’s name, date, and signature
The buyer will sign their name and date on the line provided. They will also have to include their signature. The buyer is showing proof of the purchase on the date it is sold.
Seller’s name, date, and signature
The seller will sign their name and date on the line provided at the end of the boat bill of sale form. They will also have to include their signature. The seller is showing proof they agree with the amount of the vessel being sold.
A Notary Public should observe the signatures on the boat bill of sale form. The notarization of this transaction record will take place in the last section.
Free Forms (US States)
Following are some free downloadable boat bill of sale form templates for you:
The Boat Selling Process
Once you know the components of the boat bill of sale form, the next step is to carry out the selling process vigilantly. In order to make the process efficient, you can follow this step-by-step guide.
Select the boat to sell
You should find this step easy if you have only one boat to sell. However, sometimes, a seller will have to choose between multiple boats to sell.
Identify which boat you are going to sell if you own more than one. Take the time to educate yourself on the value of the boat and which is more profitable.
After you choose which boat to sell, the next decision is what will go along with it. Boats, trailers, life jackets, and fishing equipment can be among the items in question. The buyer will be able to choose whether or not to include these items in the sale.
Clean the boat and take pictures
It would help if you took the time to clean your boat before selling it. Also, you should take the time to fix any repairs and touch up any spots that need it. As a result, you will have a greater chance of attracting more buyers and increasing the price of your boat.
The value of your boat online will increase if there are several photos. Your prospects want to see various angles of the boat. When selling your boat, take several high-quality photographs that show the boat’s features.
Decide if you want to sell it privately or commercially
Boat brokers and dealers may be able to assist you in selling your boat, especially if the boat is expensive. However, brokers often charge hidden commissions when they sell your boat for you.
Privately selling your boat allows you to avoid commission costs and fees, but it is also time-consuming.
Estimate your boat’s worth
For a seller, determining the value of the boat can be difficult. As a result, there is a chance that the boat’s value won’t be as high as you expect.
For an idea of what the boat is worth, you can use the website nadaguides. It is also possible for you to Google the exact model, year, and model number of the boat you are selling to determine its price.
List the boat for sale
You can either list your boat with a broker or sell it yourself. The boat might be best sold through a broker if its price is over $40,000. The broker will price the boat fairly and clean it to make it presentable to prospective buyers.
When the value of your boat is under $40,000, it is best to sell the boat yourself. Brokers generally do not accept boats worth less than this amount.
There are several websites you can use if you decide to sell the boat yourself.
Here are some websites where people can often sell boats and other vessels:
Regardless of how you decide to sell the boat, be sure to deep clean it before trying to sell it. It is important to make an excellent first impression. A dirty boat will turn off prospective buyers.
Showcase the boat to buyers
If you want the buyer to envision themselves owning the boat, buyers may find it challenging to do this if they cannot see the interior and exterior of the boat. Therefore, you should find a dock where you can showcase your boat to potential buyers. In this way, the buyer can experience what it is like to be on the boat. As an alternative to having it docked, you could park it in your driveway.
All states require the buyer and seller to sign the boat bill of sale form to complete a sale. If there’s a sale of a motor or trailer, you can use the same form. You also have an option to use a different form for the additional equipment.
The buyer and seller will need a copy of the boat bill of sale form. In addition, the buyer will need the form to register the boat with the state and obtain a title.
The seller should receive payment for the boat at the end of the transaction. A buyer should also receive the title and any relevant registration documents. Ultimately, the seller and buyer will have to agree on who pays the sales tax. It is common for the tax to be split between the buyer and seller.
The Verification Process Requirement
The Texas Parks and Wildlife Department (TPWD) requires registration for any sailboat measuring more than 14 feet and boats with auxiliary motors. The boat bill of sale forms gives owners legal access to waterways in the state.
In Texas, a boat buyer must register their vessel within 45 days of their purchase date to avoid late fees. In addition, a boat bill of sale form is necessary so that the sales tax can be calculated for payment.
There are also other documents to complete the boat’s titling process, such as the complete boating application, the original boat title.
To complete the transaction, you require a boat bill of sale form. Otherwise, you will not be able to transfer the certificate title and register in the state without it. Therefore, the seller is advised to be vigilant in the writing process of the bill. Likewise, the buyer must be aware of the registration process in order to make the transfer process effective and secure.