If you’ve ever wondered, “What documents do I need to sell my yacht?”—you’re not alone. Selling a yacht is a significant financial transaction, and without the proper paperwork, you risk scaring away serious buyers or delaying the transfer process. Whether you're working with a broker or listing the yacht yourself, having the right documentation ready not only builds buyer confidence but also helps ensure a fast and legally sound sale. Below, we break down the most critical documents every yacht seller needs to prepare ahead of time.
Recent Yacht Survey Report
Before listing your yacht, it’s wise to obtain an up-to-date marine survey conducted by a licensed professional. A comprehensive survey outlines the condition of your vessel—everything from hull integrity to electrical systems—and assigns a current market value. Buyers often request to see this report before making an offer, especially if the yacht is older or high-value.
The report can serve as a selling point if it shows your yacht is well-maintained or recently upgraded. For best results, choose a surveyor recognized by a credible marine association, and be prepared to provide both digital and hard copies upon request.
Valid Proof of Ownership
At the core of any boat sale is indisputable proof of ownership. Without it, buyers will hesitate or walk away altogether. This document proves that you are the legal owner of the vessel and have full authority to sell it. Depending on your state, this could be a title document, registration certificate, or manufacturer’s certificate of origin.
Make sure your ownership documentation is clean—free from liens, unresolved loans, or legal holds. If you're transferring your yacht to a buyer in another state, double-check local requirements to ensure your paperwork aligns with their DMV or maritime authority protocols.
Complete Maintenance and Service Records
Savvy buyers love a paper trail. If you’ve kept detailed service logs over the years, now’s the time to organize and present them. These records not only highlight your diligence as an owner but also give buyers confidence that the yacht has been properly cared for.
Include documentation for annual services, engine tune-ups, hull cleanings, electrical repairs, and equipment upgrades. If you’ve used a certified marine mechanic or shipyard, those records carry even more weight. Think of it like a used car—proof of maintenance directly supports your asking price.
Manufacturer or Third-Party Warranties
Though most used yachts are sold "as-is," having warranty documentation on hand can still boost buyer confidence—especially if there’s coverage left on the engine, electronics, or equipment. If the original manufacturer warranty is still active, make sure it's transferable. Some sellers also choose to offer a limited short-term warranty or service agreement to encourage faster sales.
Having clear documentation showing warranty coverage and expiration dates allows you to stand out among other listings that offer no such protections.
Loan Payoff or Lien Release Documents
If there’s still a loan attached to the vessel, don’t worry—it’s possible to sell, but you’ll need a payoff statement from your lender outlining the exact remaining balance. In most cases, the buyer's payment will be used to settle the debt before the transfer of ownership.
Be transparent with potential buyers from the start, and if needed, arrange a meeting with your lender to explain how the release of the lien will be handled. Documentation from the bank showing the plan for payoff and title transfer can go a long way in keeping buyers confident and committed.
Bill of Sale
A properly drafted bill of sale is essential for protecting both parties legally. This document outlines the terms of the transaction—price, date, names and signatures of the buyer and seller, vessel description (including HIN number), and any agreed-upon conditions or contingencies.
You can draft a bill of sale yourself using state-compliant templates or work with a broker or maritime attorney to ensure legal accuracy. Once signed, it becomes the official record of transfer and should be submitted to local authorities where required.
Detailed Receipt or Invoice
While the bill of sale confirms the terms of the deal, an invoice is a necessary financial record showing that the buyer has submitted payment. It should include the transaction date, yacht details, amount paid, and your contact information. This document helps both parties with tax filing, accounting, and post-sale documentation.
For sellers operating under a business entity or selling multiple vessels, generating an official invoice also supports compliance with local tax laws and any reporting requirements.
Canceling or Transferring Insurance Coverage
After the sale, make sure to contact your marine insurance provider immediately. You’ll want to cancel your policy or transfer it if you’re upgrading to another vessel. In some cases, the insurance company will automatically close the policy on the day of sale, especially if they’re notified by the broker handling the deal.
It's also good practice to inform the buyer that the boat will no longer be covered under your policy after the transaction is complete. This helps avoid confusion and encourages them to secure their own coverage before setting sail.
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