Choosing your boat
Professional yacht brokers have access to an extensive database of boats, and some also have the ability to find boats that are not yet on the market. This saves you valuable search time allowing you to make the perfect choice. A Broker can also assist in the selection process by helping you clearly define your requirements and provide the information needed to consider each yacht. You would probably expect to pay less when buying a boat from a private seller and possibly have more scope to negotiate price. Most private sellers will welcome questions about the vessel they are selling and it’s important to remember you may have to contact them in the future, so maintaining a good relationship with them is a good idea. Private sellers can often provide an added knowledge of the history of a boat and for this reason many buyers prefer a personal sale.
Buying
Once you are satisfied with the private seller you will need to negotiate an acceptable price and arrange to make payment for the boat. This is usually carried out by bankers draft or a cash payment can be made. Occasionally the seller may be happy to accept another method of payment. Yacht brokers are able to help in the negotiation of the sale, including price, financing, terms and often the provision of repairs and furnishings or equipment. They often provide local information on different yacht services, such as engine repair, moorings and other services. An experienced and professional yacht broker will advise the buyer throughout the process of assessing the chosen boat. Part of the broker service is to recommend the extent of the survey to be used in the inspection and help to identify the best individuals to conduct the surveys.
Plain Sailing
A Yacht Broker can assist in making sure that the title to the boat is clear, title meaning ownership of the boat. If it’s a yacht, and she is foreign flagged, set up as a corporation or existing under any number of other special circumstances, the services of a professional yacht broker will become even more valuable and will result in a smooth sale. If you choose you buy your boat from a private seller, once the sale is complete it is recommended that a buyer’s contract is arranged to protect both parties. This will act as your purchase receipt and will prove that you are the new owner of the boat.
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