Most of the boats that are up for sale are entrusted to the broker by private individuals. In certain cases, the owners are members of the trade such as builders, dealers, leasing companies, financial establishments, etc.
Brokers therefore have a mandate defining the contractual relationship between the authorized agent and the client.
At times a broker is not able to visit a vessel, if this is the case the broker will rely on the owner to provide accurate description of the vessel and items of information. These will enable the broker to estimate the selling price and build up a sales and technical file on the boat.
When a boat on sale has caught a potential buyers attention, the buyer should contact the agency and request an information pack on the vessel that interests him. This can include precise identification of the boat, service history, inventory description and photographs.
An agent shall not “overvalue” the condition of the vessels on sale and provide a description matching reality. If he finds defects or equipment in poor condition, he has to make sure that the client is informed about them.
We strongly suggest that you have the vessel that interests you inspected by a qualified independent marine surveyor. The survey will provide you with a complete picture of the vessel you are interested in.
The marine surveyor assigned by the buyer can ask to have a sea trial performed at the time of the survey or at a later date if the boat is on dry dock.
The buyer should present his offer to the broker in writing and in turn he will submit it to the seller who can decide how to proceed.
If the offer is accepted the buyer will need to sign a sales agreement. Normally a down payment of 10% on the agreed price is required at this stage.
The broker should guarantee the seller and the buyer a secure transaction. The delivery of the boat and handing over of keys can be carried out as soon as the full sum due has been paid to the seller by bank transfer to his account.
The seller and all parties involved (brokers, surveyors, divers etc) must be paid in full when the boat is delivered. The final payment must be made by bank transfer; the transfer must be credited to the account of the seller or to other parties involved.
The delivery of the boat to the new owner takes place in two phases: first a “technical” handover on the pontoon, to learn about the different systems and their operation (navigation equipment, pumps, engines, heating, electronics, etc.) and, if the new owner wishes, a sea trial which enables him to discover all the boat’s specific features.