| Purchasing a used motor yacht can be tricky, but | | | | which you the buyer will either take or decline the |
| going it alone can be dangerous. See how to | | | | used yacht, any particular conditions that the |
| make the task a enjoyable and safe venture. | | | | offer is dependent upon, and the expected closing |
| Introduction | | | | day of the month. The contract will also spell |
| The other day I returned a phone call left on my | | | | out your getting your deposit moneyback if you |
| cell phone from a gentleman asking about used | | | | back out of the deal. |
| yachts I have in stock. When the caller | | | | And oh yes, an offer requires a good faith down |
| answered I identified myself and asked what I | | | | payment. Who will hold that deposit if a |
| could help with regarding the used yachts he had | | | | transaction involves you as a buyer and the seller |
| telephoned about. The caller right away | | | | without a third party? Purchasers beware! |
| responded that he did not want to buy a used | | | | Lien Checks |
| yacht through a Yacht Broker and hung up. I | | | | When we help in the sale/purchase of a vessel, |
| shrugged my head and wondered why he would | | | | yacht brokers complete checks to make sure |
| NOT want to buy a yacht through a Yacht | | | | you get clear title to the vessel. Any active |
| Broker. | | | | ship’s mortgages are paid in full. In addition, |
| If you are considering buying a used yacht, here | | | | documentations are reassigned and Bills of Sales |
| are some things to consider. | | | | are prepared. When working with a yacht |
| Finding a Good Used Boat | | | | broker, you get the essential legal documentation |
| A yacht broker will have access to information | | | | naming the used boat as yours. Buying used |
| about boats you will not have or be able to get. | | | | boat from an individual can be risky if these |
| A yacht broker with integrity will be honest about | | | | checks are not completed. |
| used yachts. If there is something wrong with a | | | | Getting her Home |
| used yacht, he will inform you. I use a disclosure | | | | You have located the perfect used boat and got |
| to inform purchasers about troubles with the | | | | her for a fair price; but handling a 42' vessel has |
| boats I represent. If you are using a | | | | you intimidated. She’s a pretty big yacht. |
| buyer’s broker, he/she will investigate other | | | | But its ok, when dealing with full-service yacht |
| used yachts for you, and help decide which used | | | | brokers nothing is left to chance. |
| boats are worth inspecting or considering. | | | | Be sure you choose a yacht broker that will |
| He’s going to be able to talk to to other | | | | agree to assist you with learning your new used |
| brokers about their used boats asking the right | | | | yacht as well as getting her home. I do this with |
| questions, and find out selective information that | | | | all my clients. |
| you would probably not get on your own. | | | | Choose Your Broker Carefully |
| He’s going to have access to information than | | | | Most yacht brokers are very dependable and |
| you will not have making the search procedure | | | | treat their clients accordingly. But I’ve heard |
| more simplified and quicker. | | | | many horror tales from my clients about their |
| What’s a Good Price? | | | | dealings with less than professional yacht |
| Once that potential used yacht is located, what is | | | | brokers. Many of them are out for the quick |
| a good and fair price to pay? Using data found | | | | buck and could care less about you as a |
| at soldboats.com, he’ll give you the monetary | | | | customer. I have even had dealings with them |
| values of similar used boats bought recently. | | | | myself and often wonder how they have ANY |
| Remember, a vessel is only worth what you are | | | | customers. They don’t return phone calls or |
| willing to give and the seller is willing to take. | | | | electronic mails, don’t seem to know very |
| Most significantly, he’ll know the motivation of | | | | much about used boats and don’t show up |
| the seller and lead you in making an offer that will | | | | for work until lunch it seems. |
| allow you and the owner to negotiate to a | | | | Be sure your selected broker is very experienced |
| satisfactory selling price. | | | | about the used vessel you think you want. For |
| Who Handles the Money? | | | | me, powerboats, particularly trawlers are my |
| Professional yacht brokers write purchase | | | | forte. |
| aggreements that specify each step in the | | | | Pick your broker carefully. Do bit of research to |
| purchasing procedure; the amount of time for the | | | | determine the quality of the person you are |
| seller to accept the offer, the particular date by | | | | dealing with. Ask for character references. |