Yacht Sales Transaction Issues

There are myriad issues related to buying and selling yachts. A professional broker must do much more than advertise and show boats. A career professional must give due attention to:

• The increasingly complicated (and costly) sphere of internet marketing
• Continuing educational requirements, including learning new vessel systems, tracking and understanding market trends and legal issues.
• Keeping current with emerging classification and statutory matters regarding safety standards, emissions, etc.
• Pursue continuous customer engagement

And then, when a transaction starts developing, the hard work begins:

• Transaction protocols must be managed and milestone dates must be observed.
• Earnest deposit accounts must be managed.
• Legal documents must be carefully crafted and created in balance and integrity to ensure that both parties’ interests are honored
• Ethical treatment of both parties to a transaction must be assured
• Coordination of survey and sea trial of the boat
• Resolution of noted survey defects in an agreeable and proper manner
• To know the regulations of varying governmental regulatory agencies related to transferring ownership and flag state registration
• To continuously have the knowledge and relationships to get things done in the yachting community in order to make the best recommendations for contractors & crew.
• And perhaps most challenging: managing both parties expectations.

Buying a boat can be a minefield if you aren’t guided by a professional broker, with abundant experience and proven processes. In the next few blog posts, we will be adding tips to help make your yacht sale or purchase transaction as smooth as possible. For specific questions, please do not hesitate to send a message or just give us a call. And subscribe to be alerted when new articles are posted.

For more inside secrets to yacht purchasing, sales and ownership, contact us at: daniel@aurorayachtsales.com or call +12064076411 or +393470485433.