Buy a Boat
Buying a boat can be an enormous financial commitment. Without the proper help, what should be an exciting and smooth processes can quickly become scary and overwhelming. Our team of knowledgeable brokers is here to give you expert representation throughout the boat buying process. Here’s what you need to know:
When a boat is listed for sale with a professional boat or yacht broker, the listing broker’s responsibility is to handle the selling duties of the transaction and represent the seller’s interest.
The purpose of the buyer’s broker is to represent the interests of the buyer in a transaction.
-
A buyer’s broker can help with the many steps between starting your search for the perfect boat to starting your cruising. Some of these complexities include:
- Negotiating the best purchase price on the buyer’s behalf.
- Submitting a formal written offer
- Assisting the buyer to find a suitable marine surveyor and mechanic.
- Scheduling the inspections and haul out to make sure the closing process stays on track.
- Work through any survey findings to provide advice, cost-estimates and any needed negotiations.
- Recommend insurance and lenders that we know and trust.
- Ensure the necessary paperwork is in place for the closing process
- Providing support after the sale.
-
One of the reasons to use a qualified broker specifically to represent a buyer is to save you money. The broker is paid from the commission of the sale, not from the buyer.
How we can help:
-
When our brokers work in the capacity of a buyer’s broker, you have the benefit of a professional yacht broker working exclusively on your behalf and avoiding the conflict of interest brought about by one person representing both a buyer and a seller.
-
Having sold hundreds of boats, we have the knowledge and experience to help guide you through the boat buying process.
-
We look forward to discussing your needs, cruising goals and parameters in detail to learn which boats will suit you best. This will save you time in your search and potentially avoid a costly mistake.
-
Our entire business is built on lasting relationships with buyers, sellers, and our peers in the industry. Working with a single broker who is on your side throughout the entire process means that you can make forward progress with each boat that you discuss instead of starting the entire process over with a new broker each time.
-
Professional boat brokers have the tools and experience to sift through the thousands of boats for sale throughout North America, as well as research selling prices for those that have sold.
-
We have representation in both the United States and Canada. We are well positioned to help you with international transactions between the US and Canada.
-
We are experienced and passionate boaters! We have extensive first-hand experience with cruising and all things boats. Our brokers have a diverse background in different types of boats ranging from small sport boats to large trawlers and motor yachts.
Why it’s important:
-
Once you find a boat that you would like to make an offer on, your broker will write a formal offer to submit to the buyer’s agent on your behalf. You will also need to provide a 10% deposit to accompany this offer. This deposit is held by your broker and is fully refundable if the offer is not accepted or if the terms of the offer are not fulfilled. One of the most common reasons for a transaction to fail is unexpected problems arise with the vessel during the survey or sea trial. You should find peace of mind knowing that your deposit is held with a broker that works exclusively for you and not for the seller.
-
Finding the right boat requires cooperation with other brokerages to be successful which is why it’s important to use a reputable and well-known brokerage. We take great pride in the relationships that we maintain with brokerages throughout North America.
-
One thing to consider when buying a boat, is that someday that boat will also need to be sold. Having an established relationship with your broker that helped you buy your boat makes the selling process easy when that time comes. North Pacific Yacht Brokers can list your boat for sale. For more details visit Sell a Boat
Importing a Boat:
North Pacific Yacht Brokers in uniquely positioned to serve clients in both the US and Canada. Our team of knowledgeable brokers are located on both sides of the border so we can quickly act on boats located anywhere in the Pacific Northwest and throughout North America.
You can trust our team of experienced professionals to navigate the complexities of importing a boat. The most efficient way to handle the import will depend on each client’s individual circumstances, which is why it’s important for your broker to take the time to learn and understand your specific situation and goals. Some boats are more expensive to import than others and there are issues to consider for trade tax credits. Having a broker that knows what to look for can save you time and money.
Taxes can be a significant cost when purchasing a boat. We can recommend leading yacht acquisition firms to ensure transactions are structured in the most efficient way. Some of the most important considerations include:
Where the buyer resides
Where the buyer intends to use the boat
Model year of vessel
Where the vessel was built
Current ownership structure
Is there a trade to be taken in another jurisdiction
Buying North Pacific Yachts:
We are the manufacturer of North Pacific Yachts (www.northpacificyachts.com). If you are looking for a pre-owned North Pacific, we are the primary source to help you find and purchase one of our own boats. We keep in close contact with North Pacific owners, and in some cases, we know of North Pacifics coming for sale before they ever reach the market. We can offer the highest level of support and information on all North Pacific Yachts whether listed by us or another broker.