• Inspect the boat and decide in principle whether she is the one for you, decide too how much you would be prepared to offer based on the asking price indicated by the seller. Go home and sleep on it.
  
  
• The following morning ring us with an offer which would normally have one or two conditions attached -

• "SUBJECT TO SURVEY" or, if you don't want a survey "AS IS WHERE IS" 
  

• If your offer is accepted, we will then make out a Yacht Sale Agreement (Y.S.A.) to confirm what has been agreed verbally. N.B. In the case of boats, and indeed most things except houses, you can have a perfectly legal verbal agreement, but all reputable Yacht Brokers will confirm the agreement in writing. The Y.S.A. will be in three copies with Boat Detail Sheet, plus Extra Inventory sheet attached. We will also enclose a complete list of Y.B.D.S.A. approved surveyors, all of whom are accepted by all Insurance Companies. 
  
  
• You will sign and return all three copies of the Yacht Sale Agreement plus a 10% holding deposit which holds the boat for you until you have had time to have the boat slipped and surveyed at your expense. Surveys cost normally GBP L x B x 1.2 plus the slipping charges. If a yard is pulling the boat out on a travel lift it will cost around GBP150 according to size of boat and sophistication of the yard. Alternatively, the owner may agree to put it on a slip, a grid, or a beach at little or no cost. You will normally be allowed two weeks in which to accomplish this.
  
  
• We will have placed the deposit money into our client (escrow) account where it will remain until the transaction is complete. Incidentally, if the boat is being bought unconditionally (As is Where is), the l0% is not now a deposit but a part payment and, as such, is NOT returnable.
  
  
• In the light of the surveyor's report, one of three things will happen:

• The survey will be as expected for a boat of its age and price i.e. nothing of serious consequence will have been found.
• Something not very serious, but expensive enough to expect a reduction in the agreed price.
• Or, the survey is so awful, what is known in the trade as "with material defects", that you would not want the boat at any price. You can then demand, and get, your deposit money back immediately and in its entirety.

• In the second case, the price will normally be renegotiated to everybody's satisfaction and the sale will go through.
  
  
• From the time of survey to completion can be very quick or up to 14 days from date of survey. This is thinking and estimating time. This period can be made longer by agreement.
  
  
• Meanwhile, we will be checking title through the Registrar of British Ships if she is fully registered, or by other means if she is S.S.R. or unregistered. (n.b. S.S.R. is NOT proof of ownership). Normally a boat would have to be fully registered to obtain a Marine Mortgage. We will prepare the Bill Of Sale and any other relevant documents so you can legally demonstrate your ownership.
  
  
• You pay us the balance of the purchase money and we give you the Bill Of Sale, the Certificate Of British Registry or Transcript of Cancellation Of Foreign Registry, Insurance Proposal Forms, VAT Receipt Documents and Keys of the boat. We can generally also arrange insurance and finance for you.
  
  
• You go sailing and we we look forward to receiving the postcards from your adventures. Fair winds!.

We hope this explains the procedure of purchasing a boat. If we can be of further assistance please do not hesitate to give us a ring.