When the time comes to part ways with a boat, many people ask themselves how to approach this. In some times, the vessel is beyond saving and will need to be disposed of, but there will certainly be situations in which you can actually sell the boat to someone else. So, if you’re wondering how to sell a boat in Ontario, here is the guide you’ve been looking for.
How to Sell a Boat in Ontario
In order to sell a vessel, you have to keep certain things in mind. You can’t, for example, expect to get more money than your boat is worth, nor can you simply hope that a single listing on the paper is enough to capture prospective buyers’ attention. You should keep the following process in mind in order to make sure you don’t get too ahead of yourself.
Selling the Boat
The process of selling a boat doesn’t have to be complicated, but it will definitely have its nuances here and there. After all, you are selling an object with a significant financial value and very specific maintenance needs. Because of this, it might not be so easy to sell the boat within your intended time frame, at the price you’re looking for, or with the ease you’d prefer. A good way to approach this will be by hiring someone who can assess the vessel, determine its condition, and give you a realistic price that you can hope to receive for it. Start this process ahead of time if you have time to consider because it might take a while for you to find a buyer. Once you’ve found one, though, everything should be a lot simpler going forward.
Transferring the Documentation
Once you’ve sold the boat, you will have to make the sale official, which means transferring the official documentation through Transport Canada to the new owner. Regardless of whether the boat in question is recreational or commercial, the process will be fairly similar. In order to transfer your vessel’s registration or its pleasure craft licence, you will need to submit the application for such. Both of these forms will be readily available with us here in Transport Canada for your convenience, and they will mostly involve straightforward information about the new owner. Once you have submitted the transfer form to Transport Canada, the registration or the licence will be reflecting the changes in ownership. This means that the new owner will be able to use the registration to back up their new claim over the vessel in question.
Find All the Right Forms
We understand that no one likes having to file paperwork, which is why we’ve made an effort to make it easier for everyone. Here on our website, you will be able to find all the forms you might need as part of the transfer process for your convenience. And not only will you be able to fill them out here, but you can also submit them. If you have any questions, don’t hesitate to reach out to us by calling +1 (800) 419-9569 or email us at info@canadianvesselregistry.ca.
