Tag Archives: boats for sale in usa

How to Find THE Boat

There are 100,000’s of boats for sale in the world right now. In that sea of boats for sale is the ideal boat for you. I am going to show you how to find that boat. THE boat. Your boat. The boat you have been dreaming of but cannot seem to find.

I am a Certified Professional Yacht Broker which you can check out here. I have been helping people find the right boat since 1989. With this information you can empower yourself and finally end that frustrating hunt for the ideal boat. In future articles you will learn how to buy the boat and get it home. And then the fun begins!

Clearly the most obvious way to begin your search is using the Internet. Not many people read the classifieds in the papers and magazines anymore. The beauty of an Internet search is that you have access to information about practically every recreational boat that is for sale in the world while sitting in front of your computer screen. And it’s free!

Start your search with the largest Multiple Listing Services (MLS). Most of the time, you can search without registering or giving anyone your contact information. You have access to much of the same listing information as do yacht brokers.

Yacht Council is a multiple listing service that was launched by the International Yacht Council several years ago. You can find them here. This site was started by and is still owned by yacht brokers from all over the world. On Yacht Council you can be reasonably sure that the information on each boat is up to date and is actually for sale. The brokers that subscribe to this service adhere to a strict code of ethics and we keep each other accountable to keep this site the most professional listing service for yachts on the Internet. You can also find information on yacht transport, insurance and financing on this site.

Yacht World has the most boats listed in one place and is a good place to start especially if you are looking for a boat in the USA. On the left side of the front page is the Boat Search box. Click on Advanced Search at the bottom of that box. Be as specific as you can in filling out the fields and click on the region or country where you are interested in searching. Narrowing down the specific geographic area helps to keep the number of boats returned in your search results to a manageable level. Most yacht brokerage houses list their boats on Yacht World. Paid subscribers to the service have access to Sold Boat Reports, statistics and other terrific stuff. But unless you are a yacht broker you simply have access to the photos and descriptions of boats offered for sale.

Yacht World was bought by Trader Publications a few years ago. You may know that company through their Boat Trader, RV Trader, and Auto Trader magazines you find in the corner convenience store. Trader Publications also has their own online boat listing service called Boat Trader Online. You can access them here. Be aware that most of the boats listed on Boat Trader are also listed on Yacht World. Boat Trader used to be a For Sale by Owner site that has since been taken over by yacht brokers. You can still find some For Sale by Owner boats there but not many.

Those are the top three best places to start your boat search. Those sites are also used by yacht brokers when they are perusing boats for sale for their clients. A Google search will turn up several other listing services. Take it from a Certified Professional Yacht Broker (me!) that those are the only sites that I use and in the order listed at the beginning of this article.

In my next article you will learn how to get more information about the yacht in which you are interested. I have empowered you now to find the perfect boat for you and your family or business.

See you on the dock!

David

Ensure Your Money is Safe

This article is relevant to you as a boat buyer whether you reside in the USA or another country. There have been a number of bank failures and bank takeovers in the United States in recent months. This information may help ensure that your money is safe when you decide to buy a boat in the USA.

To purchase a boat in the USA you are typically asked to put down a deposit. On pre-owned or brokerage boats the deposit is 10 percent of the total purchase price with the balance paid upon your Acceptance of Vessel. If you are not a resident of the USA you need to be aware that Letters of Credit are generally not accepted. Nor are cashiers checks or bank checks. Any reputable yacht broker representing a seller will not accept an offer on a vessel unless that offer is accompanied by a deposit in the form of a wire transfer of funds into that broker’s escrow account.

Several states in the USA including Florida and California have very strict regulations governing the use of escrow accounts in the yachting industry. Those regulations can be found here. Make yourself familiar with the use of escrow accounts in the state you are purchasing your yacht. The laws and general practice in the use of these accounts may not be the same as they are in your own country.

Use some caution and investigate the yacht broker you are choosing to employ to purchase your boat. Even with the regulations and laws in place to protect your deposit funds caution is always advised. We will address choosing a US based broker in another article but for now it is up to you the buyer to ensure that the broker you employ is reputable. Seek referrals if you can. You have no obligation to choose as your broker the person who has the listing on the yacht. Commissions are customarily split in this industry between buying and selling brokers and you will not save any money by electing to have one person handling both ends of the transaction. In fact logic would tell you that there is a conflict of interest if your chosen broker is representing the seller as well.

Another option is to instruct your broker to have your deposit funds managed and put into escrow by a law firm that practices admiralty law and also specializes in yacht transactions. I recommend Alley, Maass, Rogers & Lindsay, P.A. in Palm Beach, FL only because of personal experience. You can find them here. They handle US-based as well as international transactions. And they will be happy to work with your legal firm at home or to refer you to a firm in another state if appropriate.

That brings us back to the escrow account and how to determine if your money is secure during the purchase process. You should ask your broker or lawyer the exact name of the bank that handles their escrow account. This is particularly relevant with the turmoil happening today in the financial markets. Here are two excellent sources you can check yourself from home and for free.

The FDIC or Federal Deposit Insurance Corporation in the United States is an independent agency of the federal government. It is funded with premiums that it collects from the banks that they insure. They directly examine and supervise banks that have been chartered by the states or by the federal government. Their website offers reports of the banks that they insure for free. Click on View Reports, and then click on Uniform Bank Performance Report.

Another method is using Bauer Financial, Inc. All U.S. banks and federally insured credit unions are rated by Bauer Financial. No bank pays for this service, nor can they elect to avoid it. They have the ratings on their website here and it’s free!

It is safe to purchase a boat in the United States even in these tumultuous times. Just make sure you do your homework before you part with your hard earned money.

Call me or send me an email if you have any questions.