Selling a boat via TMS

  ABYA’s advice is that you should always use a professional to ensure your sale is managed properly and the correct documentation passed to the new owner. The primary role of us, as an ABYA…

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ABYA’s advice is that you should always use a professional to ensure your sale is managed properly and the correct documentation passed to the new owner. The primary role of us, as an ABYA Broker, is to manage the professional sale of your boat, acting as an intermediary.

See our strict ABYA Code of Practice by clicking here.

Welcome to Tailored Marine Services

 

We are a friendly ABYA approved Broker, with additional after sales services at your disposal.

 

NO SALE, NO FEE!

 

LISTING YOUR BOAT

You can choose to list with us as your only broker (sole agency) or use several brokers. The choice is yours and the appropriate Listing Agreement will be drawn up. Don’t forget, you can ask us, as the sole agent, to partner (or sub-contract) with other brokers, meaning that we retain control of the sales process and we negotiate the split of commission between ourselves. This widens the visibility of your boat and we are happy to do this for you. The ABYA recommends you be guided by us over market price – we really are the experts and have access to market dynamics, trends & current prices. In essence though, you need to be realistic.

 

£££ You, the seller (vendor) pays us a commission for representing & managing your sale, which will be a fixed percentage of the final sale price (plus VAT).

 

Our fee includes:

  • Access to extensive sold databases to provide you an accurate & realistic valuation of your boat
  • Produce an industry standard ABYA Listing Agreement
  • Advertising your boat as deemed most appropriate, such as (but not inclusive) in
    • magazines
    • on our website
    • on national & international websites – extending your reach
    • through our client list
    • and even at boat shows
  • Carry out an thorough investigation on you boat, with photos, prepare details & provide you with a copy to agree, prior to taking her to market
  • Following up on all leads
  • Showing clients over your boat
  • Providing a contract to both parties which sets out the progress of the sales
  • Ensuring all the relevant paperwork is available, such as
    • RCD compliance
    • VAT evidence
    • Bill of Sale, an ABYA Sale & Purchase contract and arrange the transfer of title
    • Builder’s Certificate
    • Service History
  • Advise you of all offers and negotiate with the purchaser
  • Assist you find or liaise with the surveyor
  • Be assured we are covered by Professional Indemnity insurance.
  • Putting the purchaser’s money in our dedicated safe client account.
  • No sale will proceed until all holding contracts & deposit is in place (typically 10%)
  • If applicable, we can manage any known finances that are outstanding

 

£££ The competitive % rate (our fee) will be agreed prior to selling your boat & we will provide you with a Listing Agreement, for signing, setting out the contractual terms.

 

EX-VAT BOATS

If you bring your boat into the UK from outside the EU to sell, you can take advantage of the Customs Warehousing Scheme, operated by ABYA with HM Revenue & Customs. This allows boats that are not VAT paid to be put on the market. See The ABYA information on VAT by clicking here.

 

SEA TRIALS AND INSPECTIONS

Discuss with us in advance, the arrangements for viewing, inspection and sea trials. Our value is to show prospective buyers all viewings, and if you aren’t available to skipper, we recommend a professional skippered sea trial. The potential buyer funds this.

 

PREPARATION

To maximize success, you should ensure your boat is clean and tidy and all personal effects removed, fridge empty, etc. Prepare a careful inventory (with us) of all the things that are staying with the boat and ensure they are available for inspection by prospective purchasers and surveyors.

 

TITLE DOCUMENTS

Ensure you have all the relevant boat documents gathered together and show them to us, and ideally we take copies of the significant ones to keep in our file. These will be passed to the new owner in due course and should include the paper trail of Bills of Sale showing the ownership history, evidence of the VAT status, evidence of RCD compliance when first placed on the market in the EU, registration (if any), Builder’s Certificate, Owner’s Manual, Service History (engines, sails, etc.), outstanding finance details, any large repair bills, etc.

 

NEGOTIATION

We will market your boat using a variety of options, such as websites, client lists, magazines, second-hand boat shows. We will obviously let you know when we have any viewings, and when we receive an offer. And we will negotiate an agreed sale price with your acceptance. This will either be conditional – that is, subject to survey and possibly sea trial and any other agreed conditions. Or unconditional – “as is, where is”.

 

THE CONTRACT

We will provide a Sale & Purchase Agreement which both parties sign. Any amendments must be agreed by both parties. This is a binding contract so be sure before you sign, noting we are not a party to the contract – we are acting as your agent.

 

THE SURVEY

The prospective purchaser will advise us of anything that is of concern or any questions that have arisen in the survey. They may require a revision of the price, a repair or replacement of some equipment. If there is significant defect found, the buyer may withdraw.

 

COMPLETION

When negotiations are complete, we will send you a Bill of Sale to complete and return, and please return the Bill of Sale with all the documentation (as above) and keys. We will advise when completion has taken place (when the funds have cleared) and once we have finalised all issues, such as payment of any outstanding finance, we will issue a completion statement and send you the balance of the monies, less our agreed commission. The Bill of Sale makes the legal transfer of ownership of the boat.

 

Happy days, bon voyage

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