Things to consider before buying a used yacht
Welcome back I am David and today we are going to talk about the Brokerage Business. How to buy a used boat in particular. How to select a broker and what kind of boat is the right boat for you.
How to Select a Yacht Broker
Let's start on How to select a broker. Usually, you have somebody in the family, friends that can give you a good recommendation. A good way to start is obviously the Internet. A good broker is somebody that can relate to your needs. He should be able to ask many questions, to really qualify the type of boat that is a right boat for you. He should be able to search, to present several options. He is going to ask some uncomfortable questions like your budget, like the size you are looking for, how many people you boat with, what is the size of your family, etc. Try to really pay attention to who are you doing business with; he will be your advisor and your representative. Most people think about yacht brokers as a real estate broker, but this is way different. Your yacht broker should have enough experience to steer you away from problem's boats.
The Buying Process
The buying process once you pick a boat is quite simple. It's very much like a real estate transaction; you are going to be asked to put down a deposit, sign a contract. Make sure that the contract is contingent on anything that you need. It usually is contingent to Survey, Sea Trial, Mechanical Inspection and if applicable also Finance. Once all these contingencies are meet the closing is relatively simple and similar to real estate.
The most important part is first selecting the right Surveyor who has to be somebody working for you. Can not be somebody recommended by your broker or anything associated with the boat. It has to be someone that you find, you pay and work for you, so there is no conflict of interest.
The second and most important part of this process is the Sea Trial. As excited as you are going to be because you are buying your dreamboat, and you already selected it, you already did some negotiations and you are out to test the boat. Make sure that the boat does exactly what you expect the boat to do, make sure that the boat runs at full, make sure that you notice how long does it take to plane, the noise level on the salon, all the aspect of the boat you need to be aware of. Do not worry about the "little things", because the "little things" is the surveyor's job to do.
The purposes of these videos are to guide you through the process but also I am a Licensed Yacht Consultant and these videos are my application for the job. If you are in the market to buy a boat if you want to put your boat in the market give me a call anything that I can do to advise you and to steer you in the right direction, will be my pleasure.
I am trying to do videos that for me are very familiar, is something that I do for a living but I realized a lot of people do not know about this. If you have specific questions please feel free to write to us and we will address them. Make sure that you like our channel, you follow us on Youtube we will be posting videos every week or two weeks depending on time.