When you’re buying a pre-owned yacht, you can find yourself in treacherous waters. The seller has a broker looking out after his interests, just as a homeowner selling his house has a realtor. As a yacht buyer or renting from a boat dealer, you can have a buyer’s agent who acts on your behalf, upholding your interests and not those of the seller. Most states have laws that fix yacht sale commissions at ten percent. When both parties have an agent, the commission is split between them, so having a buyer’s agent doesn’t cost you anything.
When you ask the dedicated brokers to help you buy a yacht, they handle all the details for you — and there are a lot of details.
Of course, they negotiate to get the lowest price for you. Equally important, they ensure that the vessel you’re considering is in good condition by doing the following.
They arrange for proper inspection and survey of the vessel. The qualified yacht surveyor inspects the yacht out of the water, and reports both the pros and cons to you. If the yacht has any problems, they can arrange for the correct parts and service to correct them after you purchase the yacht. In addition, they do a title search to find any liens or lawsuits that might be obstacles to the sale. When a boat’s history shows only a few owners, that may imply the boat was well cared for. They ask the manufacturer of the yacht for background on the vessel and recommend you get a liability insurance through providers like https://www.academywestinsurance.com/. They also do a background check on the engine’s serial numbers. Furthermore, you may also want to check other parts such as marine engine mounts, boat fuel tank, and extra boat batteries. Make sure as well not to forget about boat dock cleaning; regular dock cleaning and oiling for smooth operations is crucial.
Once you’ve decided which yacht is right for you, they negotiate for you.
They facilitate the purchase agreement, making sure that you are protected from any foreseeable problems. They also facilitate your down payment.
They ensure that all the proper documentation is ready and that the closing is handled correctly.
They provide you with various options for registering your new yacht. If necessary, they also give you options for shipping the boat to you. Should you need one, we recommend an experienced captain.