If you are thinking about buying a yacht then you really are in for a treat
. Cruising really is a wonderful experience and it is a great hobby for many people. When it comes to buying a yacht you are making a very important decision and to help you with this decision here are 6 top tips.
Know what type of yacht you want to buy. Deciding what type of yacht you want to buy is the first step. To do this you need to determine the size of the yacht you require and what you will be using it for. Will you be using it for cruising or sea fishing? Will you be entertaining guests on your yacht? Other questions to ask should include where you intend to berth your yacht, do you intending to live aboard sometimes and do you have the experience to handle the yacht you have chosen or will you be hiring a crew?.
Find a yacht broker. Finding a reputable broker is important as they will be able to identify the type of yacht that you want to purchase. Your broker will help with all the purchase details and once you receive your offer to purchase you will have to give a 10% deposit. Your yacht broker will also be responsible for passing funds to the seller and ensuring that the sale is completed as quickly as possible. They will also compete the transfer of titles and registrations.
Marine Insurance. A good broker can also help you to arrange the appropriate marine insurance for your yacht. They can also help with purchase loans if you require them too. Marine insurance is vital and a good broker will be able to find the best insurance for your cruising needs.
Sea trial and survey. Before you part with any of your hard earned cash you need to make sure that the yacht you are interested in buying is seaworthy. You should always make sure that you get a sea trial and have a complete survey of the yacht carried out by a qualified surveyor.
Get it in writing. You need to make sure that everything that is promised to you by the broker or seller is put in writing. This is essential.
Look at any hidden costs. You need to take the time to find out if there are any hidden costs associated with your purchase. Hidden costs can include taxes licensing fees, federal registration fees, storage costs, and maintenance or slip rental.
If you follow these six tips when purchasing a yacht you should be the proud owner in no time and your sale should go through quickly and smoothly.