The Steps to Selling Your Yacht with BVI Yacht Sales

Below you will find a summary of the selling process. BVI Yacht Sales act as yacht brokers working to list vessels for sale and seek buyers, and work through the process of negotiating the sale of your boat, through to the acceptance of the vessel, and then hand the process over to the closing company who will be handling all funds and closing documents on your behalf. You will work with a documentation company to produce the transfer documents as well. The brokers are responsible to sell your boat, and the closing services take over to handle your paperwork and funds, and the documentation company to produce bills of sale and other paperwork as required for you to effect a sale of your boat. 

1. Establish contact and open discussions about price range, demand for the boat in this area, our marketing strategies and more. We will do some preliminary pricing research and then get back with our recommendations 
2. We will send you a central listing agreement (via e-sign service) and a yacht listing form to complete, as well as requests for other important documentation from you. 
3. Once the boat is looking her best, you will work together with the listing broker to take the photos required on our photo sheet, and nothing wrong with taking even more. 
4. Once we have a listing agreement, vessel documentation, listing form and photos, we make the listing and you approve. 
5. Your boat will then be heavily marketed worldwide. 
6. We will be fielding enquiries, providing information to prospects as required and, in due course, we will generate a formal offer from the buyer, which usually includes the requirement for a marine survey, sea trial and personal inspection. 
7. You may not be contacted by your broker between the time of listing, until either an offer is made or specific questions need answering that we cannot discover on our own. The vessel may be shown, and prospects conversed with, but you will not likely be updated unless an offer is being made, or other issues require discussion, unless otherwise agreed with your broker. 
8. Some negotiation between you and the buyer may be required, once we reach agreement , and a deposit is posted, your boat will be under contract. 
9. The buyer will perform their due diligence as per the P&S agreement. The direct costs for the purchase surveyor and any launch and/or haul out are on the buyers. However, you should make sure that your insurance covers the boat being in the water for a day (if stored on land) and you are responsible for the costs to prepare and operate the boat for any requested sea-trials. 
10. Once the buyer has their survey report in hand and their chosen acceptance date comes around they need to accept or reject the purchase. If the buyer accepts the vessel you will then head towards the closing, and from that time you will work with the closing company Details Details, directly. Should the buyer renege AFTER they have made acceptance of the vessel, they would forfeit their deposit (almost unheard of). Should the buyer reject the vessel rather than accept after inspections, then their deposit is returned to him and the deal is terminated, (after any buyer’s expenses incurred against the vessel have been paid by the buyers) . 
11. Prior to closing you will work with a licensed and bonded Documentation/Title Company ( typically ASAP Documentation or another of your choosing ) to prepare and handle the closing paperwork including bills of sale, warrant of title and vessel deletion, as required by the buyers ( who will be using Details Details Services for their escrow and closing ), or provide these on through your own means as agreed with the Buyers through Details Details agents. The fees for this typically range from $450 to $1500 depending on the complication of the deal. 
12. On the closing date Details Details will wire transfer the purchase funds , less the brokerage commission and any other expenses incurred on your behalf, to you into your chosen bank account and hand over the bills of sale and ‘keys’ to the next proud owner of what was your boat!