Keeping excellent sales records is a MUST...

[jsonnebe]

I am kicking myself in the rear right now for not keeping detailed sales records. Here is the unfolding story:

I bought a small runabout last March. It was a 14' Chrysler Charger 151. It had a clean Chrysler 55hp that ran wonderfully. I transferred all the paperwork for the boat and trailer. In July I ran into some money trouble and had to sell the boat. I was sorry to see it go. It went pretty quick on Craigslist.

The guy I sold it to ended up relisting the boat a month or two later. I don't know if he ever sold it or not.

Fast-forward to today. The US Coast Guard called my house. They wanted to know who I was and if I owned a Chrysler runabout. It was found adrift (on the rocks near shore) by a marina on Jefferson right near my house. Obviously the chain of LEGAL ownership stopped at my door. The guy who bought it never registered it. He even talked me out of my trailer plate (yes, I know that was DUMB).

Right now the USCG says they are concerned about search & rescue. I believe that's true. However, sooner or later the boat will need to be fished out of the water. It shouldn't be too difficult because it is still floating. But it won't be fished out for free. Hopefully I will NOT be on the hook for the salvage bill.

The lesson here:

In today's gadget-driven age it's easy to make a copy of the license of the new buyer. Make two copies of the sales receipt and keep one. Learn the laws of ownership transfer and follow them faithfully. Make the new owner sign their name to the registration/title and make a copy of that as well. You can NEVER have too much information.

You are reading this story and telling yourself that this would NEVER happen to you. I would have said the same thing yesterday.

 

[sw33ttooth]

Re: Keeping excellent sales records is a MUST...

you've got a point there usually when i sell something like this i have them sign a bill of sale for me and for them although i only keep it for a month or two. i have no problem giving them my trailer plate as others give me theres i ran with the last owners plate on for 5 months till i got some new bolts. at least i had the plate in my truck if i got pulled over. as for copying the license i always put it on my scanner before i let some one take a test drive in vehical or even signing the tittles. i only keep it for a month or two then i figure i am ok, but i guess its all for nothing unless you keep it forever.

ONLY TAKE CASH!!!, can't stress enough that checks often are a scam and wont cash so unless its paper money i wont sell.

 

[wifisher]

Re: Keeping excellent sales records is a MUST...

I agree 100% A while back I had the same thing happen with a car I sold. I kept my plates, but the guy that bought it wrecked it and left the scene. The cops, of course look up the VIN and it comes back to me. I had nothing but the cash the guy bought it with and his first name. Luckily, I was able to talk to the investigator, and convince him that the car was sold a month earlier. They dropped the charges against me, and I don't know if they ever got the guy I sold it to or not.

 

[ezmobee]

Re: Keeping excellent sales records is a MUST...

A forum member here that I know personally gave a boat and trailer away for free (or extremely cheap I forget which) and never did any paperwork. Guy dumps the rotted glasser off on the side of the road somewhere cuz all he wants is the trailer. Guess who they call...........

 

[BoatNoobie]

Re: Keeping excellent sales records is a MUST...

In WA state, we have titles for both the trailer and boat.

And we can report the sale online right after we sold it, even if the new owner doesnt.

 

[jeeperman]

Re: Keeping excellent sales records is a MUST...

Florida DMV, and I would guess other DMV's have an online .pdf form to printout and fill out and then file with the state.
Which notifies the state that the seller no longer is the owner, etc.

 

[Summer Fun]

Re: Keeping excellent sales records is a MUST...

This why you scrape off both Reg stickers.

I sold a boat a few year ago to a guy and.....

My Sister caught him on the lake running it under my name & reg stickers.

 

[oldjeep]

Re: Keeping excellent sales records is a MUST...

This why you scrape off both Reg stickers.

I sold a boat a few year ago to a guy and.....

My Sister caught him on the lake running it under my name & reg stickers.

In MN the reg numbers and stickers transfer to the new owner, same way that licence plates do here. We're required to either mail in a piece off the title or report via website within 15 days of selling a titled vehicle (with the new owners info), so you don't run into these kinds of problems.

 

[Fireman431]

Re: Keeping excellent sales records is a MUST...

Go get it, clean it up, sell it again. This time, keep the record of the sale.

 

[Frank Acampora]

Re: Keeping excellent sales records is a MUST...

In my 20s I traded a nice little 14 foot Glastron for a new 15 footer at a DEALER. Dealer resold the boat to a couple of fellows. I took the 15 footer on a trip to Canada. upon returning, my parents informed me that two New York detectives showed up at the house asking where I was and if the 14 footer was my boat. The two guys had stolen a 100 HP Merc and put it on that boat rated for 60. They obviously were caught zipping around but the detectives thought the boat was stolen too. Didn't the dealer complete paperwork? Who knows. But if you can't rely on a dealer, yeah, protect yourself -- keep copies

 

[Home Cookin']

Re: Keeping excellent sales records is a MUST...

I use a simple bill of sale if I buy or sell a car, boat, etc. Where titles are concerned, in some states and circumstances, the status of title controls. And the hazmat cost to clean up even a small spill, or to pull out a sunk boat, can be quite large.