Yachtsnet aims to make the process as simple as
possible - starting with letting you see full, accurate and honestly
presented details, and multiple good quality photographs, directly
on our web site. |
If you call us, you will be able to speak to someone
who has seen the boat advertised, and will give an honest assessment
of it's condition, and any work likely to be required. If we know of any definite issues, such as standing rigging of unknown age, and hence probably requiring replacement, or a engine that is known to have problems, we will make this clear. |
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When you decide to actually visit a boat, Yachtsnet
staff and/or the owner will meet you and accompany you to see the boat. It
is at this point that you will find the full benefit of Yachtsnet's
detailed and accurate listings. You will not have to waste
time looking at unsuitable boats, or boats in far worse condition
than expected. |
Once you have found a boat, the sale process itself
is in many ways more complicated than buying a car, or even a house.
Yachtsnet makes checks that owners have "clear title"
to boats offered - ie that they are legally entitled to sell.
This will have been done on all boats offered for sale through Yachtsnet. |
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If you choose to make an offer, it is normal (and
generally strongly recommended) to do so "subject to survey".
Yachtsnet will not recommend any individual surveyor to you, but
will be happy to give you a list of local surveyors. This list
of surveyors is also available online. |
Sea trials: It is also possible to make an offer
subject to a "sea trial". Many people will recommend you
do this, and there are certainly situations in which this can be
a good idea. However - you must be clear in your mind what you expect
from a sea trial, and understand the limitations.
Many people expect a "sea trial" to help them decide
if they like the way the boat handles. Usually, this is fairly pointless,
unless the boat or it's rig is really unusual. In particular, it
will only show what the boat 'feels like' in the actual conditions
on the day of the trial, and it is unreasonable to expect a seller
to keep going with 'sea trials' till you have covered every weather
and sea condition. We once arranged a 'sea trial' for a yacht that
had already crossed the Atlantic four times each way. It took place
in a glassy calm.....
A modern mass-production yacht (the AWB - average white boat )
will sail much like every other one - fastish in light airs, good
in Force 2-4, and need early reefing above Force 3/4, with exact
windward performance dependent on the keel option chosen. In the
conditions most people want to be out sailing, it will do very well,
and have a spacious comfortabe interior. Above Force 5-6, or in
lighter winds but with big gusts, it will still get you there, but
the experience may not be enjoyable - the boat is not designed for
this. Big cockpits become a liability in heavy weather - not because
they might fill up, but because it is difficult to move about safely.
The same applies down below, when the light, airy and open interior
gives too few secure handholds when you are heeled and lurching
about. Despite these apparent disadvantages, for most people the
modern Beneteau/Jeanneau/Bavaria etc. does exactly what is needed.
Earlier generations of mass-production boats are that bit heavier,
and cope better with strong winds. Moodys and Westerlys are the
classic British examples, but many older French yachts fit a similar
pattern - and are better in heavy weather than their modern equivalents.
If you really want to hammer to windward in a Force 8 buy either
a very expensive quality fast cruiser (Najad/Rustler/HR/Sweden Yachts/Maxi/Starlight
etc) or a relatively cheap old IOR-era racer or cruiser racer (UFO/She/Hustler/Nic
35/Contessa etc). All these will wipe the floor with mosts AWBs
in terms of sailing performance, but lose out badly in interior
space for their length.
What a sea trial can do is show up engine problems - run it hard
under load for a reasonable length of time - or problems with deck
gear - do things jam that should run freely, or slip when they should
hold. It will also let you see what the sails are like, though to
be honest you can get a pretty good idea without setting them just
by looking at the condition of the cloth, the wear on the stitching
near the genoa clew and mainsail headboard, and the makers name.
With a boat not in full commission - afloat, sails on, and a fairly
clean bottom, a sea trial is usually fairly easy to arrange (though
as mentioned above is often fairly pointless). If however the boat
is not in full commission, it is entirely normal to expect the buyer
to pay the costs of getting her ready for the trial. At the least
this might be a haul-out and pressure wash of a foul bottom, as
it really is totally pointless having a sea trial on a boat with
a badly fouled hull and prop. Even quite a limited amount of fouling
can dramatically alter a boats performane and handling. With a boat
ashore and winterised the costs might be very significant - and
you as the buyer will be responsible for putting her back ashore
and re-winterising her even if you do not complete the sale.
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If the seller accepts your offer, Yachtsnet will
draw up a sale agreement, which is signed by both buyer and seller,
and require payment of a 10% deposit * against the
purchase price. This deposit will be held in a separate
client account at our bank. Yachtsnet will then liaise with
your appointed surveyor, and the boatyard, to arrange the survey. |
* The
deposit is primarily held as a sign of good faith on the
part of the buyer - to say that he is seriously interested in
the boat. It also acts as surety against a surveyor damaging
the boat during survey, and offers the owner protection against
any survey or boatyard haulout bills not being paid, creating
a 'lien' on the yacht.
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Although it is not essential, it is often an advantage
for you to see the survey carried out. It is important to
note that as buyer, you are responsible for the cost of repairing
any damage caused by the surveyor. Most yacht surveyors do
not in fact cause any significant damage - but you must be aware
of this point.
If you do attend the survey, do not stay by the surveyors side all the time. At the beginning, let the surveyor know of any specific points you are concerned about, and then retire to a convenient distance, preferably somewhere serving tea or coffee and a newspaper, giving the surveyor you mobile number in case he wants you to come and see something he has found, or tell you that the survey is finished. Unless the surveyor calls you, return only after several hours have elapsed, perhaps two hours for a small boat and four to five
At the end of the survey you can then go over the significant points with the surveyor, with the benefit of being there to see exactly what he is describing. You will then be in a much better position to interpret the written survey report, which will normally come to you a few days later.
You can expect that the survey report will, even on an essentially good and well-found boat, to have a lot of detailed comments regarding faults found, and recommendations for possible improvements. Bear in mind that surveyors occasionally get tasked to inspect brand new boats straight ftrom the factory or boatyard, and still usually find faults.
Most survey reports will end with a list of recommendations, usually broken down into catgories such as "Immediate and urgent action required", "To be done within 1-2 years", and "Items to be monitored over the long term". Many surveyors also attach a list of safety equipments such as flares, lifebuoys and danbuoy, jackstays etc., as recomendations for safety equipment to be carried.
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Once you have the survey report, you will normally
either decide: |
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a) |
To complete the sale at the original price, or
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b) |
To re-negotiate the price, or require the owner
to repair or replace parts, as a result of minor defects found,
or |
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c) |
To pull out of the deal entirely, because
of extensive and major defects found |
Your deposit will be returned (less any costs of
"survey damage") if you do withdraw from the purchase
becuase of major problems found. The surveyor causing damage situation is very unusual.
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Once you and the seller have agreed a sale, Yachtsnet
will draw up all the documents required to transfer legal ownership
to you, and accept the balance of full payment. |
There is no charge whatsoever to you as buyer for
Yachtsnet's services. |
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If a survey is required, it normally takes around
three to five weeks to complete a sale
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Sales without a survey can be completed very quickly
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Selling a boat through Yachtsnet's brokerage |
Selling a yacht is a much more specialised business than selling
a car, or even a house. |
It is essential to ensure that conveyancing is carried out properly,
and that the sale contract is drawn up properly. There is
a considerable amount of paperwork involved, and Yachtsnet will
ensure that this is done correctly. |
Yachtsnet will first ask you to complete a brokerage form, and
provide us with copies of various documents proving that you do
own the boat. We will then arrange to inspect your boat, and
check the information you have given us. At this point Yachtsnet
will normally require a key to the boat, and for you to sign a form
authorising us to show the boat to prospective buyers. |
Yachtsnet will advise you on the presentation of the boat, and
if required can arrange (at cost price) for any cleaning or other
minor remedial work required to enable the boat to sell at a good
price. |
Yachtsnet will photograph the boat, both externally and internally.
A selection of these photographs will be used on the web page showing
your boat. If you do have any good colour photographs of the
boat moored or under sail, we may also use these. |
The Yachtsnet web page for your boat will have a brief summary
of the characteristics of your boat. This will be written
by Yachtsnet staff. In the unlikely event that you disagree
with these comments, we will work with you to agree amendments.
Yachtsnet comments, however, will never aim to mislead purchasers.
They will be an honest description of the boat. Ultimately,
Yachtsnet will refuse to list a boat rather than to list with misleading
comments. |
An e-mail, or a colour printed copy of your yacht's details,
will be sent to all prospective buyers currently on our purchaser
database, or to anyone who subsequently contacts us asking for a
yacht of her type. |
We will whenever possible accompany potential customers who
view your yacht. If we cannot do so, we will ask that you
meet them. We will not send a customer unaccompanied to the
boat, except with your express permission. We will notify you of
any offers made. Yachtsnet will not accept any offer on your
behalf without your approval, even if it is for the full asking
price. |
On your acceptance of an offer we will draw up a standard contract,
and accept a 10% deposit from the purchaser. This deposit will
be held in a separate client account at our bank. |
Most purchasers will make their offer "subject to survey".
Yachtsnet will liaise with the purchaser's appointed surveyor, and
the boatyard, to arrange this. If as a result of this survey
they offer a lower price, which you do not accept, the buyer's deposit
will be returned, and Yachtsnet will continue to market the boat.
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On completion of the sale we will draw up all the documents
required to transfer legal ownership to the buyer, and accept the
balance of full payment from the buyer. The purchase price,
less our commission, will be paid to you by bank transfer
to your nominated bank account within five working days of completion
of sale by clearance of funds to our clients account and transfer
of title. |
Preparing a boat for sale |
Yachtsnet's detailed pictures and descriptions for brokerage
boats give potential customers a good idea of the layout and condition
of a boat, but one of the most important factors in achieving a
sale is the preparation
of the boat for sale. Our detailed advice is given on
our preparation page.
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Financial safety |
| Yachtsnet.co.uk is operated by Yachtsnet Ltd. Yachtsnet Ltd.
holds full insurance, and operates strictly according to the YBDSA
code of professional conduct. All monies held on behalf of our
clients are held in a separate clients account at HSBC plc.
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