Buying a Used Yacht: What to Look for

Buying a yacht can hardly be called a common thing, so before such a significant event, you will have to analyze many nuances. After all, the owner needs a BU yacht, a large selection of which is on Lookboat.com, which can be easily maintained and be sure of its safety.

Legal subtleties

Before deciding to buy a non-new vessel, it is necessary to pay close attention to the seller. The future buyer must be sure that he is dealing with the owner of the snow-white beauty, and for this, he will have to trace the history of the boat from construction to the present day. The chain of documents will turn out to be quite impressive: the manufacturer’s building certificate, bills of sale, insurance policy, and parking payment. It would be useful to make sure that the boat is not pledged by requesting the extraction of the flag from the registry.

Historically, maritime contractual relations are governed by the rules of English law. The centuries-old experience of sailors became the basis for the creation of a unified sales contract MYBA, the Mediterranean Yacht Brokers Association.

The norms of the standard contract stipulate the most important terms of the transaction:

  •  purchase price;
  •  splitting payment into separate payments;
  •  the amount of the deposit, return conditions;
  •  seller’s warranty obligations;
  •  place of delivery of the motorboat;
  •  list of documentation for transfer to the buyer;
  •  the moment of transfer of ownership.

If the broker is a member of MYBA, it will not accept the proposal of the parties to amend the standard contract, protecting the citizens from possible complications. An addendum to the contract can be an additional agreement drawn up by an experienced lawyer. After the sale is completed, the details of the new owner of the used yacht are entered into the flag register.

Making an insurance policy is a mandatory step when buying because the document is requested in European countries. The insurance covers the cost of the yacht, takes into account the type of boat and the liability of third parties.

Technical inspection of the yacht

The buyer must insist on the inspection of the vessel by a yacht surveyor. Only in this way can you be completely sure that the boat is in good condition. Defects identified during the inspection can significantly reduce the purchase price.

Technical aspects to pay attention to:

  • Visual inspection. In the announcement, sellers usually do not indicate the conditions of the yacht, but scratches, dents, mold, and smudges are eloquent evidence of the negligence of the owner;
  • Engineering communications: water, fuel, and gas systems, electrical, air conditioning. The equipment must ensure uninterrupted operation of the yacht in order to protect the crew;
  • Rigging and rigging. The surveyor checks the operation of the winches, the condition, and fixation of the masts;
  • Equipment. Sellers often include fire extinguishers, a chart plotter, hooks in the purchase price. However, it makes no sense to overpay for junk, it is better to buy new equipment;
  • Keel inspection. The worst damage for a yacht of any brand is running aground. You can make sure that there is no such accident by lifting the ship. If there was a serious blow, then the keel will swell and become covered with a web of cracks.

A beautiful announcement on Lookboat.com will light up the eyes of a true connoisseur of sailing yachts. But only the personal presence on the ship will help to feel the drive. Experts recommend walking on the deck on your own, checking the behavior of the boat under various weather conditions. For example, choose a charter or test drive. After all, only after finding out all the features of the yacht can you start buying.

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