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post #1 of 3 Old 05-25-2015 Thread Starter
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Boat purchase!!

Need some advice, there's a yacht I am interested in.
Being sold privately ( previously with broker). My question is, what to do in the absence of Broker Escrow account. Who holds the deposit? Is it like real-estate, can one have a broker represent the buyer, or are we on our own??

Has anyone been through this scenario recently.
Thanks in advance......
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post #2 of 3 Old 05-25-2015
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Re: Boat purchase!!

Some documentation services will take care of the complete transaction for a fee. Try Saxton documentation in Ft. Lauderdale, they've done it for us before. Also I believe BoatUS has the same type service.
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post #3 of 3 Old 05-26-2015
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Re: Boat purchase!!

Will you be financing the boat or paying cash/check? If it were previously listed with a broker, I guess it's being sold for more money than a few peanuts, but are you able to just tell the seller that you'd like to hire a surveyor to check over the boat, and if it is what it claims to be, just pay for it then and there? Treat it like a used car purchase from a private seller. If it's what you want, just buy it. Why a deposit? Are there five other people also looking at it and you feel like you need to hold your place?

If you tell the seller that you're hiring a surveyor, that should be enough information for him to know you're serious. Whether you buy the boat or not, you still have to pay the surveyor. So the seller knows that you're willing to drop several hundred dollars and lose it if the boat needs more than he claims.
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