The Sales Agreement

Selling your boat can be a relaxed, positive experience, but don’t rely upon a handshake and a “gentlemen’s agreement” when it comes to finalizing the deal. First, write a sales agreement, outlining the terms of the sale and the obligations of the buyer and seller. Refer to “Sales Agreement” at for more details. Ask for cashiers or certified checks for both the deposit and the final payment. Stick to an agreed-upon closing date. Be prepared to renegotiate the sales price when it comes to items that need repair or when the boat has a less-than-satisfactory...

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The Seller's Obligations

A serious buyer will want to have your Gulet inspected by a marine surveyor and possibly have the engine looked over by a marine mechanic. This will involve haul-outs and sea trials. These expenses are normally borne by the buyer and any “destructive testing” — for example, scraping bottom paint to look for osmotic blisters — must be repaired by the buyer. Ordinarily, there is no obligation on the seller’s part to volunteer information the buyer doesn’t ask for, but this doesn’t give the seller carte blanche to withhold information about a known...

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What Can The Seller Do To Expedite The Sell

As noted above, the most important thing the seller can do is price the boat realistically. Beyond that, it's critical that the boat show well. You can't underestimate the importance of a sparkling boat! Purchasing a yacht is largely an emotional decision (who actually NEEDS a boat?!) and first impressions are important. Anything you can do to bolster this first impression will result in a faster sale at a better price. The most common reason boats are put up for sale is that they're not being used, and often it's been quite some time since...

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