The Buying Process

CONTRACT TO CLOSING
Once you and the seller have a signed Purchase Agreement there is much to be done, however we do the majority of these tasks on your behalf. Most of what needs to be done is a product of many people working together to get in your vessel. We act as the liaison between you and the seller, their agent, the closing company, the surveyor, and boat yard/marina. We will guide you from contract to closing to make sure you are abiding by the terms of the contract. It’s a tough job at times when much of the outcome depends on other people, but our guarantee to you is that you and your investment are protected. That is why we try to work with like-minded professionals who have the same sense of urgency when it comes to our clients. As a buyer, you also need to have the sense of urgency so that your deadlines are met and you are protected. We will be there each step of the way.
ESCROW MONEY DEPOSIT
So you will not be placed in an uncomfortable position when you purchase a vessel, an understanding of the escrow money deposit is of the utmost importance. At the time a written offer on a vessel is accepted, you will be required by the seller make a wire transfer of 10% of purchase price and this secures the contract. We cannot accept cash, money order, credit card or ACH. The deposit applies in full toward the purchase price at closing. Your escrow deposit is protected as long as you remain in compliance with your contract. This is why we make sure your surveys and inspections are done in a timely fashion. Once the acceptance of vessel form is signed (after survey, and by agreed-upon acceptance date) the deposit is no longer refundable.
SURVEY AND TRIAL RUN
When purchasing a vessel, it is highly suggested it be inspected. In the yachting world, we call this a survey. The survey is your first lesson on your new boat. It’s usually a fun day, full of adventure, but be prepared for anything. For your convenience, we have included a list of competent surveyors in NE Florida We encourage you to talk to a few surveyors to make sure you find someone that you can connect with and happy to work with. We can organize the dates for the survey and sea trial, making sure to accommodate your schedule. If airline tickets are needed, do not purchase them until the surveyor, the vessel owner and the brokers all have an acceptable date and time. This is a coordinated effort. Once you’re satisfied with the survey and sea trial you will be presented with an “Acceptance of Vessel” form for your signature. This is the start of the closing process! To protect your vessel, you should have insurance in place and a binder from the insurance company for your records prior to closing. Most insurance companies will want to see a copy of the survey. Make sure you check out our “Survey Day Survival Guide.”
WIRING FUNDS
Due to the increased amount of wire fraud, DO NOT wire funds to account other than what is in this packet. We will never email you a new account number or set of wiring instructions. Please call and confirm with YOUR BROKER, the complete wiring account number and instructions over the phone.