When it comes to buying or selling a boat, a purchase and sales agreement (PSA) is a crucial document to have in place. It helps both parties ensure that they are on the same page about the terms of the transaction, and protects them from potential legal issues down the line.

Here are some key things to include in a boat purchase and sales agreement:

1. Identification of the parties: The PSA should clearly identify the buyer and seller, along with their contact information.

2. Description of the boat: The PSA should include a detailed description of the boat being bought or sold, including any identifying features such as make, model, and serial number.

3. Purchase price: The PSA should state the agreed-upon purchase price for the boat, along with any terms of payment such as a deposit or installment plan.

4. Conditions of sale: The PSA should outline any conditions of sale, such as a survey or sea trial, that must be completed before the transaction can be finalized.

5. Representations and warranties: The PSA should include representations and warranties from both the buyer and seller regarding the condition of the boat, its history, and any potential issues or defects.

6. Contingencies: The PSA should outline any contingencies, such as the buyer obtaining financing or insurance, that must be met for the sale to go through.

7. Closing and delivery: The PSA should specify the date and location of the closing, as well as any requirements for the delivery of the boat.

By including these key elements in a boat purchase and sales agreement, both the buyer and seller can feel confident that they have a clear understanding of the transaction and are protected from any legal issues that may arise. It’s important to have the agreement reviewed by a qualified legal professional to ensure that all necessary provisions are included.