If you need sales forms, we have downloadable PDF forms on this page. We did not write these forms and offer them as a courtesy to facilitate the sales process.
The first form could be used as the Purchase and Sale Agreement and is editable online. It is sometimes called the “Offer” form. In coordination with the Purchase and Sale Agreement, there are three other forms which determine if the Buyer wants to go forward with closing, renegotiate based on survey items, or cancel the deal.
- Yacht Purchase and Sale Agreement
- Acceptance of Vessel
- Conditional Acceptance of Vessel
- Rejection of Vessel
The below forms are to help you do closing paperwork. The most important is the formal Bill of Sale used to transfer your yacht’s title. We found this version on the United States Coast Guard website, and offer it here. Also included are a dinghy bill of sale, warranty of title, and a Florida Power of Attorney.
If you are more comfortable using a marine documentation company to handle paperwork, we can provide inexpensive escrow and documentation service. Prices will vary depending upon where the yacht is registered and where you want your new registration but start at around $1,500.00 USD for escrow and documentation services. Please inquire for a quote via our escrow inquiry page.
We also provide a full service contract, escrow, and closing management service. This service is a premium level that includes all the title agent work mentioned above as well as a transaction coordinator and expert in marine contracts. Please again see our escrow inquiry page for additional information and a form to apply.
If you are purchasing or selling in the State of Florida, then the below pamphlet from the Florida Department of Revenue may help you determine any tax implications of the sale. We can help you qualify for the 90 day or 180 day sales tax exemption if you use our closing services. If you are a non-Florida resident buying a yacht located in Florida, our services offer tremendous value. Please contact our team.
Florida Boat Sales and Use Tax Educational Pamplet
If your yacht is for sale in the USA and you have concerns about US Customs, Duty, and Importation, these are two customs agents who you can contact for advice and services. Recent US policy changes have increased the both the liablity as well as risk of enforcement.
We did an interview with William Coates below at Offshore Risk about yacht specific marine insurance. If you are US based, I would also reach out to State Farm.
For financing if you have US military participation in your family, we find USAA is easy to work with and willing to partner with us in doing the escrow and title transfer.
- Visual Inspection of Vessel
Primary visit without trial of vessel or machinery. In some cases an offer is made subject to visual inspection, survey, sea trial.
- Offer
Accompanied typically by 10% earnest money deposit in negotiable funds to be held by an escrow company such as a title agency or our in-house escrow service via this link. Typically deposit is wire transferred within three (3) business days of Seller and Buyer agreeing to and signing a purchase agreement. Written contract is submitted with acceptable contingencies (i.e. sea trial and/or survey, etc.). Yacht Purchase and Sale Agreement
- Counter Offer
Negotiations proceed through a (possible) series of offers and counter offers. These are usually verbally done without specific paperwork needed to be filled out.
- An Acceptable Price
Having been negotiated, both parties endorse the contract with signatures. 10% deposit must be cleared funds in order to proceed further.
- Sea Trial
Is conducted usually at Seller’s expense, often en-route to the survey site.
- Survey
Is conducted at Buyer’s expense. Costs vary, however, $30.00 per foot, plus $7.50 per foot for hauling out, is an example rate. Your can search online or ask friends for qualified surveyors, as well as insurance companies, marine yards, etc. The survey must meet the Buyer’s approval. There is no other standard by which the vessel passes survey other than the buyers own approval.
- Acceptance of Vessel
Resulting from satisfactory survey and sea trial. Acceptance of Vessel
- Conditional Acceptance of Vessel
Based on survey and/or sea trial (deficiencies). Possible re-negotiation of price or repairs dependent on the severity of deficiencies. Conditional Acceptance of Vessel
- Rejection of Vessel
Refund of deposit to buyer. Rejection of Vessel
- Acceptance of Vessel
- Closing
Transfer of documents and title upon receiving balance of funds. Please see above for marine documentation agents and sample forms for do it yourself paperwork.