FOR ANSWERS: Click on any question below, or scroll down the page.

     1.  Does YBC charge a buyer anything for its services?
     2.  How can I make an offer to buy a yacht subject to a test sail and marine survey?
     3.  What items are usually covered in a surveyor's report?
     4.  What if defects are discovered during the sea trial and/or survey?
     5 . How much deposit is payable and who holds it?
     6.  When is the balance payable and how can it be paid?
     7.  What items should the Purchase agreement and contract contain?
     8.  Is sales tax or GST included in the purchase price?
    

      1.(Q)  Does YBC charge a buyer anything for its services?
        (A)  No. There are absolutely no charges of any kind to a buyer from YBC, whether you buy a yacht or not.
              The Broker earns a commission from only the owner, based on a percentage of the end selling price.

     2.(Q)  How can I make an offer to buy a yacht subject to a test sail and marine survey?
        (A)  After you're happy with what you see and satisfied that it's the yacht of your choice, you firstly
              decide what price you're prepared to pay. You then pay a deposit and sign an "Offer to Purchase"
              agreement, (that your broker prepares), subject to the satisfactory results of a test sail and survey.
              You then need to pay a surveyor, (arranged by yourself or YBC), plus haul-out costs based on size
              of the yacht. Both items are non-refundable if you decide to continue with the purchase - or not.

      3.(Q)  What items are usually covered in a surveyor's report?                                      back to top
        (A)  After a thorough inspection the surveyor will supply you with a copy of a written report that covers
              all aspects of the yacht you are considering buying, including but not limited to the hull, rigging,
              electronics, machinery, engine/s, accommodations, overall condition and considered market value.

     4.(Q)  What if defects are discovered during the sea trial and/or survey?
        (A)  It's not unusual to find some defects, in which case, with the assistance of your broker, an
              acceptable solution is sought and found by negotiation with the owner and confirmed in writing.
              Any such agreement is normally by adjustment of the price or the defect is rectified by the owner.
              If that agreement can't be reached, the buyer is not obligated to continue and deposit is refunded

     5. (Q)  How much deposit is payable, how is it paid and who holds it?                        back to top
        (A)  Deposit is 10% of purchase price, paid by transfer from buyer's bank to the broker's Trust Account
              and held until the balance is paid and all documentation is completed and final handover of yacht.

     6.(Q)  When is the balance payable and how can it be paid?
        (A)  Due date for balance is agreed upon between owner and buyer and is paid by bank transfer into the
              Broker's Trust Account until an agreed settlement date, when full payment is made to the owner in
              exchange for a Bill Of Sale and all boat documents, including the original registration certificate.

      7.(Q)  What items should the sales agreement and contract contain?                        back to top
        (A)  * A description of the yacht, including make, model, year, registered number, engine serial number/s.
              * An inventory, fully detailing all of the contents of the yacht that are included in the purchase price.
              * The purchase price, including the deposit paid and how/when the balance is to be paid.
              * Clear language specifying that the sale depends on a satisfactory survey and sea trial.
              * Details of when/where the yacht will be delivered and date/location of where sale is to be finalised.
              * A statement within a Bill of Sale confirming the boat is free of liens and encumbrances and that
               the seller accepts responsibility for any debts incurred during the seller's ownership.  

     8.(Q)  Is sales tax or GST included in the purchase price?
        (A)  The good news is - Langkawi is a Duty Free island. Unlike many other places, there is no tax payable.

              Also For Frequently Asked Questions on Chartering A Yacht:  Click here
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