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Anchor Boat Sales is with you every step of the way.
California is one of two states in the USA that license and bond their yacht Brokers.
All escrow funds are deposited in a secure escrow or trust account.
It is our mission at Anchor Boat Sales to make your buying experience a most pleasant one.
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Here are the typical steps when buying a boat.
1. Research and learn the market.
After you have discussed your needs with your Broker and found what you are looking for make an Offer to Purchase.
2. Making the offer.
You and your Broker will fill out a Purchase Agreement (CYBA Form) with "Subject to Items" such as: Sea Trial, Marine Survey, Engine Survey, Financial Contingency, etc. A 10 % deposit is required at this point to our trust account. If you decide against the purchase, your deposit is "FULLY" refunded. At this time we forward your offer to the Seller for his/her acceptance or rejection. If there is a Counter Offer we continue to negotiate until an offer is acceptable to both parties. But remember; do not haggle just for the sake of haggling. Every one likes a "deal", but if a boat is already priced correctly, you risk losing the boat of your dreams while trying to shave a few dollars off the price. This also brings up a good point. For any boat Seller, it is painful enough to part with his or her "baby". So why deal with the extra misery of a difficult Buyer. Lesson here: Be nice - it works!
3. Surveys and Sea Trial.
You chose a surveyor (we can supply you with a list) and then we set up a date for the sea trial, survey and out of the water inspection. You will need to complete all your "Subject To" items by the acceptance date you indicated in the Purchase Agreement. If you are satisfied with the survey results and sea trial, then you sign their acceptance so that we can start the closing paperwork.
4. Closing.
At this point you will be contacted by one of the closing services we use. They order an abstract (title search), prepare Bill of Sale, and discuss with you the differences between Coast Guard Documentation and State title. You will receive a Buyer's Closing Statement from your Broker. Then you will need to send the balance of the purchase to our escrow account where it is held until closing day (usually two to five days). The closing agent cannot release title or Bill of Sale until funds have cleared. Meanwhile, the closing service will secure the Seller's notarized signature on the Bill of Sale by closing. At closing day you will receive the Bill of Sale, boat keys and a nice bottle of wine with our compliments! |
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