This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Middlesex Massachusetts Agreement to Purchase Boat, Subject to Inspection, with Bill of Sale
Category:
State:
Multi-State
County:
Middlesex
Control #:
US-02204BG
Format:
Word;
Rich Text
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How to fill out Agreement To Purchase Boat, Subject To Inspection, With Bill Of Sale?
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FAQ
As discussed above, a purchase agreement should contain buyer and seller information, a legal description of the property, closing dates, earnest money deposit amounts, contingencies and other important information for the sale.
Rather than give up on a purchase, a buyer can draft a conditional acceptance that requests terms they feel are necessary to proceed toward closing. In most domestic purchase agreements, the buyer is deemed to have rejected a boat if he fails to give timely written notice of acceptance.
Most purchase agreements are contingent upon a satisfactory home inspection and mortgage financing approval. There are other types of contingencies as well, in addition to the most common ones mentioned above. Buyers should use a "market-minded" approach when adding these items to their contracts.
Here's what a written offer should include: Your offered price for the boat. Details about down payments and escrow. An expiration date. Any conditions or "subject to" phrasing, such as a satisfactory survey and sea trial, clear title to the boat, and securing suitable financing, if needed.
Any purchase agreement should include at least the following information: The identity of the buyer and seller. A description of the property being purchased. The purchase price. The terms as to how and when payment is to be made. The terms as to how, when, and where the goods will be delivered to the purchaser.
Up to the buyer. Once the offer is presented to the seller, he then has that period of time to respond. The response may agree to all the contingencies and if he does, the parties have now entered into a contract to buy/sell the boat based upon those terms.
Protect yourself with a contract. An old legal adage says, "If it's not in writing, it didn't happen." A "purchase and sales agreement" is the best method to protect you. Too often a private-party boat purchase includes an exchange of money and handshake to consummate the sale.
A purchase agreement must detail the property to be sold, identifying the exact address and including the property's legal description as contained in official records of the local jurisdiction. Additionally, the identity of the seller (or sellers) and the buyer (or buyers) must be noted.
What Should Be Included on a Boat Purchase Agreement? The name, address and contact information for the buyer; The name, address and contact information for the seller; A description of the boatbrand, model, year of manufacture, length, Hull Identification Number (HIN); State registration number.
How to Write 1 Save The Boat Sales Receipt.2 Identify The Boat Seller And Buyer.3 Describe The Purchased Boat.4 Report The What The Boat Buyer Paid For.5 Document The Boat Sale's Payment.