Safer Ways to Handle a High-Dollar Private Boat Sale
You don't necessarily need to carry a large amount of cash or send a large payment directly to someone you've never met. There are several ways a buyer and seller can make a high-dollar transaction safer. 1. Meet at a Bank Meeting at a bank can be a good option for a local transaction. The buyer and seller can meet at the bank, verify their identities, complete the paperwork, and arrange the payment while bank employees are available. If the bank has a notary, you may also be able to have the bill of sale or other documents notarized. Not every branch has a notary or notarizes every type of document, so call ahead and confirm. A bank-to-bank wire transfer can also be an option. The seller should independently confirm with their own bank that the money has actually been received before handing over the boat, keys, title, or other ownership documents. 2. Use a Reputable Escrow Service An independent escrow company can hold the buyer's money until the agreed conditions of the sale have been met. This can be especially useful when the buyer and seller live far apart or the transaction involves additional requirements. Never use an escrow company simply because the other person sends you a link. Research the company yourself and contact it through independently verified information. Fake escrow services can be part of a scam. 3. Bank Wire Transfer For a local transaction, the buyer and seller can meet at a bank and arrange a wire transfer. Do not rely on a screenshot, email, text message, or receipt saying that a wire was sent. The seller should confirm directly with their own bank that the funds have actually arrived before releasing the boat or ownership documents. 4. Cashier's Check — With Caution (Not what we would suggest; however, it is an option.) A cashier's check may be an option, but don't assume that a check is legitimate simply because it looks real or a bank initially shows the funds as available. Fake cashier's checks are commonly used in scams. If using a cashier's check, discuss the transaction with your bank beforehand and independently verify the check with the issuing bank. 5. Financing Through a Marine Lender If the buyer needs financing, a marine lender may be able to handle payment to the seller and address any existing loan or lien as part of the transaction. This can provide additional documentation and oversight for a larger purchase. Regardless of How You Pay Before money or ownership changes hands: See the boat in person. (See buying long distance). Verify the Hull Identification Number (HIN). Verify the seller's identity. Confirm the seller actually owns the boat or is authorized to sell it. Check for liens or loans. Put the terms of the sale in writing. Make sure the bill of sale, title, and/or vessel documentation are handled correctly. Don't release the boat, keys, title, or ownership documents until payment has been properly verified. For documented vessels, the U.S. Coast Guard National Vessel Documentation Center provides information about bills of sale and vessel documentation. One Simple Rule Don't let the other person control both the payment process and the paperwork. Meet somewhere legitimate, verify everything independently, and don't let anyone pressure you into moving faster than you're comfortable with. If something doesn't feel right, stop the transaction. There is always another boat and another buyer or seller.
Not every legitimate boat sale happens face-to-face. Boats are often purchased from another state or even across the country, and buyers may rely on a marine surveyor, broker, captain, mechanic, or other trusted professional to inspect the boat for them.
The important part isn't necessarily being there yourself — it's making sure someone you trust independently verifies the boat, the seller, and the transaction.
If You're the Buyer
If you can't personally see the boat:
Consider hiring an independent marine surveyor to inspect the boat.
Don't automatically use someone recommended by the seller. Have the surveyor provide the report directly to you.
Verify the boat's Hull Identification Number (HIN) and compare it with the title, registration, and other documentation.
Verify who legally owns the boat and check for known liens or loans.
Video calls can be useful, but don't consider a video call proof that everything is legitimate.
Ask for current photographs or video and consider requesting specific views or details that are difficult to fake or reuse.
If possible, have a trusted local person, captain, mechanic, or broker physically inspect the boat.
Use a written purchase agreement that clearly explains the boat, price, condition, included equipment, payment terms, and what happens if the transaction doesn't meet the agreed conditions.
For a high-dollar transaction, consider using a reputable escrow service or marine lender rather than sending a large payment directly to an unknown individual.
If You're the Seller
Don't automatically assume a buyer is a scammer just because they live far away or haven't seen the boat themselves. Legitimate buyers purchase boats remotely all the time.
Instead:
Ask how the buyer intends to inspect the boat.
Encourage them to hire an independent surveyor or other qualified professional.
Be willing to provide reasonable documentation proving ownership. Don't pay for a "required" report or inspection service selected by the buyer.
Be cautious if the buyer wants you to send money to a third party, purchase a specific report, or pay a fee before they will complete the purchase.
Agree in writing on who is responsible for the survey, transportation, closing costs, and other expenses.
Don't release the boat, title, keys, or documentation until the payment has been independently verified.
A Good Middle Ground
A legitimate long-distance sale can look something like this:
Buyer finds boat → buyer independently verifies seller and boat → independent surveyor inspects boat → buyer reviews survey → buyer and seller sign purchase agreement → payment is handled through an agreed secure method → funds are verified → ownership documents and boat are transferred.
The buyer doesn't necessarily have to travel across the country, and the seller doesn't have to turn away a legitimate buyer.
Be Careful Without Being Suspicious of Everyone
A buyer who hasn't seen the boat isn't automatically a scammer.
A seller who wants payment isn't automatically a scammer.
A legitimate transaction can happen remotely. The goal is to create enough independent verification that neither person has to simply take the other's word for it.
If the buyer or seller refuses reasonable verification, creates urgency, insists on an unusual payment method, sends you to a specific third-party website, or asks you to send money before the transaction makes sense, slow down and investigate before proceeding.
A real sale can usually survive a little due diligence. A scam usually depends on you skipping it.