Buying A Luxury Yacht - Without Complications

When you've finally decided that you want to buy a luxury yacht, the problem of finding the right boat for you often comes up. If you are not that knowledgeable with the business, purchasing one would definitely be a difficult process for you.

In buying a luxury yacht in the U.S., there is one way that can make the experience less difficult and faster for you. This is by the help of a broker.

What is A Broker?

A yacht broker is similar to a real estate agent. He is the one whom boat buyers consult when they want to acquire a boat. On the other hand, he is also hired by boat dealers or owners to be their representatives and sell their vessels. He usually gets a commission from the seller with every successful transaction.

There are also other roles that brokers play, other than just giving consultations to buyers.

Basic Inquiry and More!

A broker will closely listen to all your needs and wants and tell you if the boat that you are eyeing on is the right one for you. You can ask him basic questions, like the price of the boat; but be aware that he can give you more than that.

He can inform you objectively about the vessel's condition before deciding whether you'd want to take a look at it. Brokers can also notify you if there are other similar boats in the market. He can tell you how long it has been on the market and its history.

Boat Loans and Insurance

Brokers can help you get connected with other companies that give boat loans and insurance. They can help you out with the price negotiations and in ensuring the future safety of your vessel.

Paper Works

There's a lot of paper work included when you buy a yacht. Brokers are familiar with these procedures and can take care of them for you, whether they're documents for the country/state/province, the initial Offer to Purchase, the Bill of Sale, registrations, licensing, documentation, certificates of ownership, tax charges, security agreements, and much more.

Trials and Surveys

If you are buying a pre-owned luxury yacht, you have to request for a sea trial and get a marine surveyor. Your broker attends the trial with you and helps you out with the results of the survey. He can do the estimations on the needed repairs, how long it would take, how much, and where to find the necessary equipment for the vessel's repair.

Negotiations

The broker is the middleman between you and the seller. He can help you negotiate your way to a good deal. He can also warn you whether the transaction is a win-win situation for you or not.

After the Deal

A broker can also help you find repair specialists and yacht maintenance companies. He can also refer you to highly recommended, sailing, boat handling, and seamanship classes. He can inform you about boat clubs, boating events, and races that you might be interested in joining. Basically, your broker can also be your new boating best friend for life.

By: Vanessa A. Doctor