How to Buy A Yacht

how to buy a yachtIf you choose to be your own yacht trader without a buyer's broker, this checklist links to handy tools that will help you avoid common mistakes. We have worked with thousands of boat buyers and they always are very anxious about all the paperwork and documents required to complete the sale of a yacht. So this checklist can help you be mindful not to miss deadlines and point you in the right directions to do your research.

To make buying a yacht a more pleasant and less risky transaction, we recommend that you have a good team on your side in your yacht broker, yacht surveyor and documentation agent. Similar to real estate sales, sellers pay the commission on a boat sale, so it won't cost you anything extra to have a yacht broker on your side. As a licensed and bonded yacht broker in Florida, we operate under a strict set of legal guidelines and ethical standards, and it's good to have us on your side during a transaction.

If you are an inexperienced boat buyer, you may be better served by having your own yacht broker to do the negotiations. However, if you want to go it alone, here are some guidelines to follow. Also read Boat Buying Tips and Charter Boat Buying Tips.

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How To Choose The Yacht That Will Best Suit Your Needs

Buying TipsNarrow your choices to a short list of boat categories and make a short list of features that you require, features that you would like, and features that you want to stay away from. Once you narrow your category choices down, it’s time to go shopping. Visit a local boat show and board as many boats as you can. Consider all available options. Below are some tips on how to narrow down the choices.

How Will You Use Your Yacht: Define Your Cruising Plans

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Yacht Sales Contracts, Boat Taxes and Duties: Some Basic Tips

Yacht Purchase and sale documents Creating Sales Documents For Catamaran Sales

Whether you buy a brand new catamaran or a used catamaran directly from the owner, the best way to protect both parties is to put the terms of the sale in writing. This will eliminate problems that could later turn a seemingly simple deal into a nightmare. A legal document will clearly list the intentions of the buyer and seller by outlining the obligations of each party, as well as spelling out the obligations and time frame for each party involved.

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bvi crewed charter business' cruisenautic logo Adventurous Couple, Kate and Cyrus Start a Crewed BVI Yacht Charter Business

Trading land gigs for adventures by sea. CruiseNautic is not your ordinary sail charter!

We interviewed Kate and Cyrus of CruiseNautic, two of our recent yacht buyers. After taking ownership in France of their 2019 Lagoon 42, they will sail to their crewed charter destination in the BVI.

Kate’s background is in the arts covering design, cuisine, and music. She’s rocked the Minneapolis music scene with a variety of top artists, her guitar and mic are always on hand for emergency entertainment relief. Cyrus has a background in engineering and woodworking and is an expert at planning the perfect adventure. He can also bake up a dangerously delicious pie. They both hold a USCG Masters License.

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Passion for Yachts & Sailing? Turn It Into a Business

Boat BusinessBusinesses have been born from hobbies and personal interests since commerce began. If you look around, you will see it everywhere. Baseball? Horses? Cars? Photography? All great passions that often lead to even greater business ideas. If you have saltwater in your veins like we do, you probably have a dream of owning a luxury yacht to explore and relax aboard on your weekends or even extended cruising. But, like many of the best leisure activities, the privilege of owning and enjoying a yacht comes with a hefty price tag.

But, as with other expensive hobbies, astute business people have created ways that you can turn your boat into a business. A catamaran sailing yacht or catamaran power yacht can be much more than just an expensive toy by turning it into a business with tax deductions, depreciation, exit strategy, etc. all planned out.

A yacht business can be done successfully provided you set it up correctly to comply with IRS rules, and it’s perfectly legal. To accomplish this, you should purchase your new yacht through a limited partnership or limited liability corporation rather than a foreign corporation and there are certain rules you must follow to qualify for the tax deductions and reap all the financial planning benefits. It can be done and we help people do it every day!

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