How to Sell a Boat in Maine?
When you sell a watercraft in Maine, you need to take several steps:
- Repair the vessel and clean it. Ensure the price of the vessel is within reasonable limits. Advertise the boat properly, mentioning the determined price and providing pictures. Be careful and watch out for fraud - it is better to meet the potential purchaser before you document the sale. Additionally, ask for an electronic payment;
- Find out what documentation is obligatory to legitimize and finalize the sale;
- Create a bill of sale. To become valid in the state of Maine, it must be signed by two parties. Make sure to read the document thoroughly, understand all the specific details captured, and only then sign the papers. Both parties should have a copy of the document - the buyer retains the original, while the seller has a copy;
- Transfer the boat title to the new owner by writing the name of the buyer in the transfer section of the document;
- Provide the buyer with all warranty cards, maintenance records, and other documents.
When the transaction is completed, the buyer is responsible for registering the boat with the Maine Department of Inland Fisheries & Wildlife. Before registering, the new owner has to obtain vessel insurance and fill out a boat registration application.