why brokers are important, when buying a yacht

Why do you need a broker, when buying a yacht

Purchasing a yacht may be as daunting as buying a home, which is why you should definitely consider hiring a broker when you start the process. Although the yacht broker sector is not as well-regulated as real estate, brokers and yacht salesmen in California are required to take an exam and hold a broker or salesman license. There are several benefits to having a broker on your side when purchasing a yacht.

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Here are a few reasons why you should not go into the boat-buying process alone:

Brokers will have your best interests in mind, when negotiating the deal. With years of experience our agents can find key negotiating points for each yacht and help you close the best deal.

1.  Knowledge of the Laws

Brokers are well-versed in the law. A broker will be able to tell you if you need to pay vessel sales tax on your purchase. They can also help you on the transfer procedure. In California, you must either document the vessel with the Coast Guard or transfer the title (the California Certificate of Ownership) with the California Department of Motor Vehicles.

Experienced brokers will advise you not only with the sale & purchase but also with

• registration
• flags and regulations
• surveys
• regulations and conformity for EU and US 

2. Individualised and Professional Service

The broker will go through what you want and need in a boat, and then you can sit back and relax as they narrow down the search to yachts that meet your requirements. They will frequently inspect the yacht before showing it to you, protecting you from scams, unscrupulous dealers, and vessels that are not as wanted. Once you've signed the contract, the broker will arrange for a sea trial. All you have to do is show up and be ready to look at the boat. In fact, an experienced broker may already know the yacht you're looking for. They will also accompany you on the sea trial and attend the suggested survey.

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“A good Broker will have your best interest, finding you the best deal to match your expectations, with realistic overview of the costs and transparent process.”

3. Purchase Assistance and Negotiation

Your broker will assist you in making the offer. The broker will inform you if your offer is reasonable and if the yacht is overpriced or underpriced. They will then make an offer and assist you with any odd sale terms. A broker will also ensure that there are no outstanding property taxes on the vessel.

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4. Establish Escrow

Brokers will establish escrow for you so that the money does not move to the seller until all of the selling conditions are satisfied. This keeps you from having to pay for a yacht with outstanding property taxes.

Pre-Purchase Services 5

Prior to the sale, your broker may also assist you in locating the appropriate financing and maritime insurance.

6. After-Sales Services

Your broker will assist you in keeping an accurate record of the sale and the value of the boat. If you are a first-time yacht owner, they may recommend instructors to take lessons with, destinations to visit on your first voyage, and boat clubs to join. In other words, hiring a broker to assist you with the acquisition of your yacht is highly recommended, not only if this is your first time purchasing a vessel, but always because good brokers will have your best interest and find the best deals possible.

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