Need help ASAP - Selling a boat to a Canadian

[Crappie Kid]

I am selling my boat and I have a deal in the works with a buyer in Canada (MB).

I have never sold a boat let alone across the border.

Somebody please educate me on the ENTIRE process. Its a cash deal.

He informed me that he needs to fill out some export form using the boat and trailer registration numbers.

I will write up a bill of sale.

What else?

[Juls]

I would write up a purchase agreement with the numbers for him and let him sign that. Then, he has the info, but no claim to the boat until he comes to pick it up.

Then, when he shows up to pick it up, and he gives you the cold hard cash, that's when you give him a bill of sale and the title.

If you have lien on the title, you need to put it in writing that the title will be sent as soon as the lien is lifted.

Rick sold a couple boats to Canadians before. It's no different on this side than selling to an American. They are the ones that have to jump through hoops getting it back home with all the paperwork they have to do.

Hope that helps.

Juls

[VernH]

Originally Posted by Juls

I would write up a purchase agreement with the numbers for him and let him sign that. Then, he has the info, but no claim to the boat until he comes to pick it up.

Then, when he shows up to pick it up, and he gives you the cold hard cash, that's when you give him a bill of sale and the title.

If you have lien on the title, you need to put it in writing that the title will be sent as soon as the lien is lifted.

Rick sold a couple boats to Canadians before. It's no different on this side than selling to an American. They are the ones that have to jump through hoops getting it back home with all the paperwork they have to do.

Hope that helps.

Juls

Correct on the purchase agreement first and then a bill of sale/title at the end. Otherwise he can have an entirely new title prepared, come down and pick up "his" new boat.

That's probably not what's happening in this case, but you can't be too careful with trans country transactions.

[tv4fish]

Just a suggestion (and something I always do) - Have HIM sign a "statement" that basically says that he accepts the boat "as is" and that you are not providing any warranties on anything and that he has "checked it out " to HIS satisfaction. Of course - you keep his signed statement. Might save you some hassles down the line.

[mrwalleye5]

Crappie,

I'll send you a PM when I get home tonight. I bought a boat just north of you a couple years ago. I have everything that I had to do all in a binder. You have very little to do...it's the buyer that has to do the work!

[BigWaterFisher]

Be weary of taking checks from Canadians. They have up to 30 days AFTER you've cashed or deposited their check to stop payment on it. Typically when you get to the bank and get money in hand you're safe... but not when it comes to Canadian checks.

My old man got burned with this once. He deposited a check, it cleared. He carried on as usual spending money out of his account until the bank informed him he was over drawn because the Canadian who paid him "Stopped payment" on the check 2 weeks later.... which took the money right out of my old man's account. He did end up getting his money from the guy.... but it took a whole lot of run around and hassle. Lesson learned!

[mrwalleye5]

I heard this also. Also heard there might even be a problem with a Canadian Bank Draft. I basicly told the seller that I wanted to pay in good old hard currency so there was no problems.
Seem to have this bit of distrust of banks.

[rrrrrrRon]

A check is not cash. Have him do a wire transfer of funds from his bank to yours. Turn over the boat only when you have confirmation of funds from your bank.

[mrwalleye5]

Is it possible to do a wire transfer on short notice when you are standing beside the seller?

my neighbour just brought back a trailer he bought in the states and when he went to register it, the government wanted a certificate from the manufacturer (supposedly supplied to the original purchaser) that certifies the trailer meets all legislated manufacturing standards.

If you are selling your trailer with the boat, i'm sure the guy would appreciate a copy of this certificate.