Yacht Purchasing

We take great pleasure in finding just the right boat for you and your family. By taking the time to discuss your needs and desires we can then fine tune the search using both online resources and our many contacts within the yacht industry. First time boat owners may not know for sure what they are looking for, they just know that they want to be a part of the boating lifestyle. We can help by discussing the pros and cons of different boats and showing you the differences.

Experienced boaters likely have a clearer idea of exactly what they want. We understand that you can access most boat listings online and speak directly to the brokers representing those boats, however, by utilizing our services at no additional cost to you, you can save time and also benefit from more in depth information than you could otherwise obtain. Once we’ve narrowed down the type of boat you are interested in we can schedule showings and focus in on the boat (or boats) which you want to present written offers on. We will prepare the written offer for you and present it to the seller’s agent together with a good faith deposit. We will represent your best interests in negotiations on price and terms, and once an agreement is reached your deposit will be placed in our trust account and we will begin to coordinate surveys and assist in finding funding, insurance and a slip. Even long after the purchase is completed we are available as a resource for clients.

Purchase Process:

The purchase process protects both buyer and seller, is required by the California Yacht Broker Association, and has been followed in California for decades. California is one of only two states in the country (Florida is the other) that require yacht brokers to be licensed and bonded.

              Prior to Being in Contract:  The prospective buyer can view the vessel inside and out, but cannot turn the systems on or ask to run the engine.

            In Contract:  The contract will provide a buyer with certain contingencies of sale. If any of the contingencies are not satisfactory the buyer can terminate the contract and receive return of their full deposit. Standard contingencies of sale are as follows: a satisfactory sea trial, a satisfactory marine survey, engine survey (and perhaps a rigging inspection if the boat is a sailboat). A financing contingency may be included as well.    

           Sea Trial: During the sea trial the buyer has the opportunity to test all the boat systems and observe how the boat handles underway. If the boat handles as expected, the buyer will then move forward with a marine survey and a mechanical survey. A marine survey will always be required by a lender or insurer.

          Marine Survey: A marine survey is an appraisal of the vessel and normally includes a complete report on the vessel with detailed information about the structure, mechanical, electronics and other features of the boat. Part of the marine survey is the haul out, where the surveyor has an opportunity to inspect the bottom of the vessel. Upon receiving the marine survey report, the surveyor will provide a list of recommendations which may provide the basis for a repair allowance from the seller and at the very least provide you with an idea of what will require attention once you own the vessel.

          Mechanical (Engine) Survey: The engine survey is a separate report that reviews the boat’s engine, filters (fuel and oil), fuel and oil lines, exhaust systems, cooling systems, fresh and raw-water systems, emergency stop and alarm systems, and transmission data. This report will also include compression testing.

         Closing the Deal:  If all the contingencies are satisfactory, and your insurance and financing is complete, we will coordinate the transfer of title either through a documentation service (if the vessel is United States Coast Guard documented) or through the California Department of Motor Vehicles. This will also be a good opportunity to change the name of the boat when submitting the paperwork. You will deposit additional funds to complete the purchase and become a new boat owner.