|
Is the company a BC Yacht Brokers Association member?
The BCYBA has an established Code of Ethics that members commit to honour. Remember that you will be trusting this company to collect and remit all applicable taxes, register or license your vessel, check for liens or encumbrances and anticipate any problems that may arise before the sale goes through.
Have you enquired about the company's place of business?
BCYBA members don't work out of phone booths or car trunks. Yacht brokering is a full-time career and the place of business should demonstrate that commitment.
Did the company set up a trust account to hold payments?
BCYBA members are required to maintain a trust account for the purpose of holding payments until the sale has been closed.
This is a security measure that can save you time and money if something goes wrong at the last minute. Everyone benefits from the proper handling of money.
Is your broker professionally certified?
The BC Yacht Brokers Association requires its members to adhere to the highest brokering standards in North America. The Certification Program is fully accredited by the Pacific Marine Training Campus of the B.C. Institute of Technology and gives you confidence that your broker is truly dedicated to his profession.
Do you know the vessel's history?
When taking a listing, a conscientious broker will learn as much about the history of the vessel as possible, including information about liens, vessel registration and previous sales.
This will give a prospective purchaser an advantage when it comes time to make the final decision. Racing successes, notable cruises, refits or modifications can provide worthwhile clues about the suitability of the vessel.
Does the broker know the strengths and weaknesses of the vessel?
With so many types and varieties of boats available, a broker should be informed about basic design and capability of most makes and models.
Some models can show up under a different name, a technique used especially by manufacturers outside of North America. Having a broker who can recognize basic designs will go a long way in saving you time and money.
You've found the boat of your dreams...what now?
Remember that the broker is there to guide you through the purchase/sale of your boat and should advise whether the offer is fair, the deposit is secured and financing is approved and in place.
The broker should also cover subject clauses that make the sale dependent on surveys, mechanical inspections and successful sea trials. Assuming everything goes well with the surveys, the broker should discuss the details about closing the transaction and delivering your new dream.
It is in everyone's best interest that the sale go smoothly and that all parties, both the vendor and the purchaser, are treated fairly.
|
|
|
