Originally Posted by JulieMor
Just to clarify...
The Yacht Purchase Sales Agreement does not come into play until both parties have agreed on a price. Correct? And this document is not used until that time?
Is the offer then just verbal?
No. The Yacht Purchase and Sales Agreement is the document that you sign when you make your offer. Along with your offered price it spells out the contingencies and timeline associated with your offer.
The back and forth is then usually verbal until there is agreement at which point the purchase agreement is brought up to date and ratified.
Most but not all do it this way.