How it works
From accepted offer to change of ownership.
Each stage has a deadline, so both parties know what is due and the sale keeps moving.
01
Buyer, seller and deposit
Buyer and seller complete identity checks, accept the sale agreement and the deposit is transferred.
02
Documents
Ownership, registration, VAT and other relevant vessel documents are provided through the transaction.
03
Survey or sea trial
The buyer arranges these where required, then accepts, renegotiates or withdraws within the agreed timeframe.
04
Completion confirmed
Buyer and seller each confirm that the sale is ready to complete.
05
Funds and ownership
Funds are released as agreed, with the Bill of Sale and completion statements issued.
Funds and verification
What happens to the money and documents.
Transaction funds
Transaction funds are held by approved banking partners during the sale. When buyer and seller both confirm completion, the funds are released as agreed.
Buyer and seller identity
Buyer and seller complete identity checks at the start of the transaction. Ownership and other relevant vessel documents are then provided through the BoatClose process.
Common questions
What buyers and sellers usually ask.
I’ve already found a buyer. Why do I need BoatClose?+
Finding the buyer is only the beginning. BoatClose manages the transaction from agreed deal through documents, deposit, survey, funds and completion.
Who holds the money?+
Transaction funds are held by approved banking partners while BoatClose manages the process through to completion.
When are funds released?+
Buyer and seller confirm completion separately. Once both have confirmed, the transaction funds are released as agreed.
What checks are carried out?+
Buyer and seller complete identity checks, and the relevant vessel and ownership documents are provided through the BoatClose process.
What happens if the survey finds a problem?+
The buyer can accept the boat, renegotiate the deal or withdraw in accordance with the sale agreement.
Can a broker use BoatClose?+
Yes. BoatClose can manage the transaction whether buyer and seller found each other privately, through a broker or somewhere else.