Making a formal offer
At BVI Yacht Sales we try our best to ensure that buyers know everything about the yacht they’re looking at buying, including any work that may need doing, any repairs previously done, and any other information that may impact how much you want to offer on the vessel. Our offer process is outlined below, but don’t hesistate to contact us if you need any more information explaining.
If you would like to proceed with making a formal offer on one of our yachts, you will need to tell us exactly how much you wish to offer for the boat. When considering your offer price, please take into consideration the official inventory listed on our website, any information that has already been provided to you as to the current condition of the boat, any work that you consider needed, and the value of the vessel. The price that is agreed to on this offer is the price at which the seller will be obligated to sell you the boat, do not count on a further reduction after survey. Of course, if something major comes up or we learn the boat is different than represented, after survey, you have the right to refuse the vessel or make a new offer.
We will need to know the Acceptance of Vessel date by which you would be able to come and see her or will have had the opportunity to complete all due diligence needed, such as obtaining financing, completing a survey inspection, or any other steps that you need to complete to be able to complete the purchase of this boat, and we will need to know the date by which you can have full funds available and wish to close on the boat and begin ownership of her. (Closing Date)
To make a formal offer on a yacht, we will also need your full name, address and citizenship with which we can create the formal offer for you to review, endorse and send back to us. Once we have your offer, we can work to have the seller agree to your offer, and they will also then sign the agreement. Should both parties agree on a price, you will receive a copy of the buyer/seller signed offer from your broker, and then you would need to wire a 10% deposit to our escrow account, which would stay there until the closing date or your rejection of the yacht. Once we receive the deposit in our escrow account we will sign the purchase and sale agreement making the vessel officially ‘under contract’, meaning the seller cannot accept another offer on this boat unless this deal falls through for some reason, in which case the contract becomes null and void. This is to protect your investment of your time and travel when coming to see the boat before the acceptance of vessel is signed.
If at some stage on or before the Acceptance of Vessel date you choose to reject the boat for any reason at all, then your deposit is returned to you, no questions asked.
If you would like to make a formal offer on a boat, we will need:
-Buyers full legal name
-Terms for the agreement (Survey, sea trial, etc.)
-Date at which you can produce a 10% deposit
-Date at which you can ‘Accept the Vessel’ making the deposit non-refundable
-Date at which you can have full funds available ‘Closing Date’
All sections marked with an * are compulsory for us to be able to review your offer. Once we receive your offer, we will review it and then be in contact with you regarding any changes to be made, and to confirm that you would like us to submit the offer.