Congratulations – you are ready to purchase your first yacht! Once you get past the initial excitement, the process of purchasing a yacht may seem complicated and the myriad of available choices can be a bit overwhelming. A professional yacht broker can help you wade through the legalities and financial details, but you should have an idea of the procedures involved. The following guide will help you understand each step of your purchase so you can relax and enjoy the experience.
Selecting your Yacht
First determine your intended use, the number of people that will typically accompany you on your adventures, the features that are most important to you, and the price you can comfortably afford. Your broker will winnow the enormous assortment of available vessels to a manageable selection of yachts that fit your needs. If the yacht is nearby, schedule a personal inspection
Making an Offer
Once you have found your desired yacht, your broker can help you determine a fair price. If you are purchasing a pre-owned yacht, your broker will draw up an Offer to Purchase that details all equipment, furnishing, fuel, etc. that will be included in the sale, as well as the timing for the sea trial, survey, acceptance, and closing. Typically, 10% of the purchase price is put into escrow when the offer is made.
Once you have an accepted offer, a marine survey must be conducted to test the mechanical, electrical, and electronics equipment, and determine the current overall condition of the vessel. The vessel should be taken out of water for the survey to ensure there are no hidden problems.
A sea trial presents the chance for you to take the yacht out for a test drive. Pay attention to the speed and maneuverability of the yacht, and listen for vibrations in the engines and noise levels throughout the vessel. Generally, the buyer is responsible for the price of the survey while the seller covers the cost of the sea trial.
Final Negotiations and Acceptance
Any deficiencies found during the sea trial and survey are addressed in the final negotiations. The final contract is signed, after making sure all loans and encumbrances will be satisfied by closing. Your broker will make certain all financial aspects, such as maritime and admiralty liens, fees and taxes are addressed and paid, and all necessary conditions included. The required documentation, licenses, and forms are then filed, and you become the proud owner of your first yacht!
Atlantic Yacht and Ship’s experienced yacht brokers take great care in matching our clients with their ideal vessels. We have a large selection of new and used luxury yachts for sale, including this exciting 50′ Baia Classic 1997 ready for adventure. This lovingly maintained and updated yacht shows like a much younger vessel, with newly replaced soft goods and interior woods in excellent condition. With many upgrades and a fun layout, she demonstrates the exceptional performance Baia is famous for by reaching speeds up to 50 mph! Check out the video to see this Italian beauty located in Marco Island, Florida, offered for sale at $225,000. Call Brent DeSellier at 413-531-2615 or email him at email@example.com for more information.
Atlantic Yacht and Ship is America’s oldest and most respected yacht and ship brokerage, with over 53 years of experience in yacht and superyacht sales. Come and meet our committed team of professionals at our headquarter sales office dockside at Harbour Towne Marina in the heart of the yachting capital of the world, Fort Lauderdale, FL. Contact Atlantic Yacht & Ship at 1.888.230.0439 so we can make every step of buying your first yacht a pleasure!