Tuesday, March 19, 2013

The Seller's Obligations

A serious buyer will want to have your Gulet inspected by a marine surveyor and possibly have the engine looked over by a marine mechanic. This will involve haul-outs and sea trials.

These expenses are normally borne by the buyer and any “destructive testing” — for example, scraping bottom paint to look for osmotic blisters — must be repaired by the buyer.

Ordinarily, there is no obligation on the seller’s part to volunteer information the buyer doesn’t ask for, but this doesn’t give the seller carte blanche to withhold information about a known defect or condition that renders the boat/yacht “Gulet” unsafe.

Remember, there is a fine line between passive failure to disclose information and active concealment. If an accident occurs later, previous repair records or complaints to the builder may come back to haunt  you.
This is also true for liens and other debt encumbrances that might cloud the transfer ownership.

Selling your boat/yacht  in “as is” condition may be protection against nitpicking later on, but it may not protect you if a serious problem arises.


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