How do I buy a boat through you?
ANSWER » the step-by-step process is as follows
1. Select your vessel.
2. Ask for an Offer Contract to be prepared covering that vessel:
- Is finance required?
- When can you settle?
- Name of person/s or company buying the vessel
- Address of the proposed purchaser
3. Advise the offer amount.
- Be prepared to submit up to 10% of the offer amount with your offer to the The Yacht Brokerage Trust Account.
- Lesser amounts may be negotiated with the initial offer.
4. Advise date for finance approval (if finance is required).
5. Advise date for Sea Trial.
6. Advise date for Survey completion by.
7. Advise full and final settlement date.
8. On receipt of the offer document prepared by your TYB Broker, check all amounts and dates are correct, then if correct, execute the document by signing the ‘Offer to Purchase and Sales Agreement’ and a copy of the ‘Vessel Description’. Every page of both agreements must carry your initial on the bottom right corner.
9. Pay elected deposit either by Cheque, Direct Deposit to our Trust Account or Cash.
10. The TYB Broker will submit your offer to the Vendor.
11. The Vendor may accept your offer by executing the offer or may counter offer.
12. You also have the right to counter offer the Vendor’s response.
13. This process may happen over several days until either you both agree on a sale price or no agreement is reached.
14. Should no agreement be reached, you may claim 100% of the deposit back from the TYB Trust Account less the 1.6% Credit Card fee if applicable.
15. Should agreement be reached, you are required to deposit the balance of the 10% deposit to the YBBA Trust Account.
16. Arrangements are then made for the Sea Trial and Survey.
17. YBB can supply a list of qualified Surveyors ... but can't recommend them.
18. Survey and Slipping costs are to the Purchaser’s account,; your TYB broker can make all bookings on your behalf.
19. Should the vessel fail Sea Trial or Survey the purchaser may withdraw from the sale or renegotiate the contract subject to the finding of the sea trial and survey. If no agreement can be reached, the purchaser may request the full deposit back from the TYB Trust Account.
20. Should the vessel pass survey and sea trial, and the purchaser signs off on the Sea Trial and Survey, and if the transaction in not conditional to finance, the contract becomes unconditional and the Purchaser must complete the purchase within the terms of the agreement.
21. To settle, the Purchaser is required to supply a copy of their licence and execute transfer of registration papers.
22. The Purchaser transfers the balance of the purchase price to the TYB Trust Account.