More Information

Like in home sales, you can certainly do a ‘for sale by owner’ or “FSBO” option, however this is not how most homes are sold and it’s also not how most boats of significant value are sold. While it might sound tempting to save money on broker fees, brokers provide many benefits to ensure that your vessel is properly marketed and all the steps of the sale or purchase cycle are covered. These steps can get complex and time consuming for private owners and like homes, most private sellers underestimate what’s involved and many end up turning to professionals for help. 

The short answer is “Yes”, but private sales can come with lots of risk and little legal recourse in many cases. Private parties may not fully understand the common protections that come into play when contracts are properly written and just simply rely on simple confirmations of deposit, sometimes a handshake. There are countless stories about sellers defrauding buyers or retaining deposits when a buyer changes their mind. As the cost of the vessel increases, so does the risk in many cases. Lots of headaches can be avoided when you work with an experienced broker, who represents your interests and protects your money! 

It makes good sense for several reasons. Your broker will handle these (6) areas for you at no cost to you as a buyer: 1. Set up automated searches based on your preferences & budget 2. Offers suggestions on prices 3. Works with the listing broker to set up showings and obtain additional information 4. Handles negotiations and contracts 5. Protects your funds 6. Coordinates survey, final acceptance and closing processes

We use the term “boats of significant value” to help determine when it’s most appropriate to use a broker. However, this is just guidance and you can use a broker at any level of value. The word “significant” can mean different things to different people, but as a general rule we consider it to be anything over $30,000 in value. At that level and above is where there’s higher complexity in the sale. For example, most buyers will want to conduct surveys, financing comes into play and US Coast Guard documentation can also be a factor as well as a vessel gets over a certain size.

Yes, for a seller who completes a transaction with us and then allows us to be their co-broker in a purchase, we offer a partial credit toward the broker fees, once all transactions are completed.

We like to summarize this into a 10-step process, which includes: Assessing the market to establish optimal pricing, properly & professionally marketing the vessel, managing showings, vetting prospective buyers, establishing & managing professional contracts, coordinating inspection & sea trial, assisting with negotiations, establishing the proper documentation & title/lien searches, managing your closing process, completing funds transfers

You’ll want to capture a prospective buyer’s attention by having a clean, waxed boat. In order to prepare for photos, the first step is to declutter your boat, removing as many personal items as possible. These are items not essential to the aesthetics or safe operation of the vessel. Next, give the boat a thorough cleaning including carpets, upholstery, the engine room, canvas and hull. Buyers zoom in on pictures and will draw conclusions based on how your boat looks on screen. A glimmering, clean and clutter-free boat speaks to how an owner cares for the boat and helps maximize the value of the boat.

Yes, we do leverage Instagram & Facebook as a complimentary means to making sure you get as much exposure as possible. These are used in conjunction with our main channel, Yachtworld, which is the MLS for boats

Yes. We normally list your vessel on Boat Trader, Yachtworld and Boats.com. These platforms provide exposure to nearly 10M monthly visitors shopping for boats, which helps give you maximum exposure. Yachtworld itself is exclusive to professional brokers and not open to sellers who are selling privately, without a broker.

We use industry standard contracts, which are created from several legal inputs over many years. In addition, these contracts are contained within a best-in-class contract management software platform that we use for all of our work. These elements help ensure that all parties have the standard legal protections normally applicable to our industry.

No, we are not legal advisors or attorneys and do not provide counsel. The option of hiring an attorney for your particular transaction is at your own discretion.

No, the purchase and sale agreement along with the agreed upon deal will contain any and all contingencies agreed to by the buyer and seller. All used boats are sold “as-is” except as noted in contingencies and/or written addendums. Once the buyer has exercised or waived their rights to an inspection and has formalized their final signatures on the applicable contract(s), they become the lawful owner.

Yes, we will help with the coordination of dates for these services and can also help recommend hull and engine surveyors if you don’t have your own. We do not, however, actually perform inspections or sea trials.

Yes, through Yachtworld and as a professional broker, we have access to special reports that provide us with that information.

Yes, we normally put our signage on your boat for additional exposure. However, if you choose not to or if your marina has rules against signage, then we will adjust accordingly.