SABBEX

Buying a boat

BUYING A BOAT

• Step 1: Research
  
  
  • Ensure that you have conducted appropriate and extensive research into both the vessel and the company producing said vessel
  • Use Google, Sailing Blogs and all other research tools at your disposal
  • Contact SABBEX for further information

• Step 2: Ascertain exactly what it is you’re buying
  
  
  • What is included in the purchase price?
  • Are extras included or is it just the basic model without additions such as paint etc?
  • What taxes/import duties will be applied to the purchase?
  • Has the boat been built to industry specific standards? Ie. Non-CE certified vessels will not be able to be used or re-sold in Europe
  • Is the deposit refundable as the majority of them are not?

• Step 3: Signing the contract
  
  
  • Has the contract been checked by an attorney prior to signing?
  • Have you sought out legal advice and counsel?
  • Ensure that you receive your own copy of the contract and sign it before witnesses
  • Go through the contract with the seller so as to understand all terms and clauses clearly
  • Warranty procedures should be clearly written and understood by all parties concerned
  • This is the time to bring up any issues you might have and these should all be addressed PRIOR to the signing of the contract
  • Most South African manufacturers do have very clear procedures and well written contracts, and these are there to protect both the seller and the owner

• Step 4: Hiring a Surveyor
  
  
  • Contact a surveyor (a list can be found here) and ask him to conduct a survey
  • This is a highly recommended process as the price is negligible in the long run considering the problems that can arise as a result of skipping this step
  • Establish what it is that you want him to survey
  • Ensure that you understand what the surveyor’s report will contain
  • Obtain a quotation from the surveyor in writing – including all other expenses relating to travel/accommodation etc.
  • Stage payments on the vessel should be made upon recommendation by the surveyor

• Step 5: Completion of Build
  
  
  • Establish an appropriate facility at which to launch the vessel and ensure you are aware of all associated costs
  • Ensure that the vessel undergoes a commissioning process – which entails the testing of  all systems and equipment based on criteria outlined by the surveyor
  • Make arrangements with the builder to conduct sea trials of the vessel, ensuring that you are aware of what is being tested
  • Ensure that the appointed surveyor is involved in this process to an extent, and that he oversees the trials
  • It is not 100% necessary for the surveyor to be present throughout sea trials, as they can last up to 2 weeks, but it is recommended that he be taken out to sea on the vessel prior to the completion of sale

• Step 6: Completion of Sale
  
  
  • Once all the above are completed to the satisfaction of both parties, a bill of sale is made by the owner for the buyer (Your surveyor should advise as to what this should contain)
  • The owner is then paid in accordance with this joint understanding

• Step 7: Handover to Owner

There are a number of handover options available:

1. The owner travels to South Africa to collect the boat. He/she then either sails the boat to its destination or hires a skipper to do so
2. The boatbuilder sends a skipper to deliver the boat to the owner

For any further questions you have regarding purchasing a boat, please contact us info@sabbex.co.za or (021) 447 6541