Step #1 — THE OFFER:
Written offers are always taken more seriously than verbal. This offer will be presented to the seller with a deposit check (100% refundable), which will be held in your file until negotiations stop at an offer acceptable to both buyer and seller.
Step #2 — ONCE AGREEMENT ON PRICE IS REACHED:
Your refundable deposit will be place in our escrow account and we will start the process of arranging your survey and sea trial.
Step #3 — ADDRESSING CONCERNS:
We will assist you through the process, making the proper recommendations to help with any questions you may have about insurance or financing. We pride ourselves in making our clients’ purchases and sales as clear and fair as possible.
Step #4 — FINANCING:
When borrowing money from a marine lending source, typically the lender will require a survey and USCG documentation. Cost varies and it will be your responsibility to pay for the USCG documentation at the time of closing.
With our assistance, meeting the requirements for your loan will be as simple and stress free as possible.
Step #5 — THE SURVEY:
The day of your survey, in most cases, the vessel will be in the water or put back into the water. This is done at the sole risk and expense of the seller.
All other costs associated with survey will be covered by the buyer. Expenses covered by the buyer may include hauling to inspect the bottom of the boat.
We require that any surveyor or engine surveyor is an approved, accredited surveyor (ask us for our list surveyors we are happy to share.)
Try: Marine Surveyors
Step #6 — ONCE THE SURVEY IS COMPLETED:
You will discuss the survey with your surveyor and your WellFound Yachts Consultant. In most cases, you will receive a hand written deficiency list.
With an older boat the list may include a few items that will need to be replaced or repaired. We will help guide you and renegotiate the selling price to everyone’s satisfaction.
Step #8 — PREPARING FOR CLOSING:
There are many facets to a completed proper closing. All of the appropriate documents need to be prepared.
We will be working with the documentation specialist (when documentation is required, usually over 26 feet and using a marine lender).
Try: All Yachts Registries for a wealth of information on this
Step #9– THE CLOSING:
Our typical closing is done by mail. For your convenience no one has to come to an office.
By now we will have a very good idea of what you would like to do to change your new boat. Whether its repairs or the installation of new equipment we will help you find the best facility to assist with these changes and of course you will have the benefit of our purchasing power to help you get whatever you need at the best prices.