You are here::
Frequently Asked
FAQ
Does World Yachts specialize in sail or power?
Our experience spans both. We are a do-it-all brokerage.
You describe yourself as “highly networked.” Explain that.
We are trusted by other leading brokerages all around the country. When brokers work together as colleagues, rather than opponents, it works to your advantage whether you are buying or selling.
Why should I be looking at a used boat instead of a new one?
A well-kept used boat is your best value. Boats depreciate at a startling rate compared to cars. You can pick up a newer boat for a fraction of what it sold for brand new just a few years ago. Older classics can also be great buys, depending on their construction. Years ago materials cost a lot less, and there was much less pressure on builders to skimp.
In buying, should I be focusing on certain brands?
We know the production history and techniques of all the major builders; and are happy to direct you to the brands with the highest reputation for initial quality and long-term value.
Can you help me get a loan?
Certainly, and we recommend that you get pre-approved. It’s straightforward, contingent on a fully refundable downpayment of 10 to 20 percent.
What about insurance?
We can help you there too.
How is the broker paid?
Sellers customarily pay the broker’s commission.
When is the broker paid?
Only when a sales contract is finalized and executed.
Are there any up-front costs?
None. Broker fees are strictly contingent on a satisfactory, final transaction.
Does the broker work for the buyer or the seller?
Actually both. Although the seller pays the commission, the broker is duty-bound to facilitate a transaction that enables both parties to walk away feeling satisfied and treated fairly.
Say I tell a friend about the boat being for sale. The friend wants to buy it. Can I do that independently?
Absolutely. There’s no charge unless the broker facilitates the sale.
I see a boat I like, but you recommend having a survey done. What’s it cost?
For the basic pre-purchase survey, you will be charged around $13 per linear foot.
Can I hire my own surveyor?
Yes you can, but we strongly urge letting us arrange it. We have a network of experienced surveyers who are in good standing with lenders and insurers. If you are obtaining a boat loan, your lender and/or insurer may designate the surveyor.
What if I want a sea trial. Who pays for that?
If the boat has to be launched and hauled afterwards, the buyer is expected to pay those bills.
If I go through all this, does the broker warrant the boat as being free of undiscovered defects?
The broker can’t unconditionally, absolutely warrant the boat. But, you have a much higher assurance that the boat will have been gone over thoroughly for needed repairs.
Say we find some problems. What now?
By making your offer contingent on a survey and/or satisfactory sea trial, you have the right to back out without penalty. The seller, though, may be willing to lower the asking price.
I have a deal, adjusted downward for some repairs. Can you help?
We’re not just experts at buying and selling boats. We have vast experience with maintenance and repair. Our network of skilled marine professionals stands ready to assist. We can also offer proven, time-tested, do-it-yourself advice.
I’m serious about selling. What network do you use?
World Yachts subscribes to the YachtWorld online database of boats for sale. It’s the gold standard for the used-boat market, capable of worldwide boat searches.
