We like things simple and transparent! We know the boats we offer, and we also know the yachting world in the French West Indies and the Caribbean, as well as further afield in Europe and North America. 30 years of experience in yacht sales!
The buyer identifies the boat on our website, obtains all the additional information needed, and then indicates readiness to make an offer.
Before the buyer travels or incurs any expense, we ask that a Purchase Agreement be signed between the parties to establish the basis of the deal and commit the seller.
Before any travel or expense is incurred, the buyer signs a Purchase Agreement specifying:
The offer amount (purchase price).
The deadlines: acceptance of the offer by the seller, acceptance of the boat by the buyer (after inspection and/or survey and resolution of contingencies), and the closing date (sale completed, deeds signed, boat paid for).
The contingencies to which the sale is subject: generally an inspection and/or survey of the boat, including a sea trial and haul-out for hull inspection.
The Purchase Agreement is signed (by email or electronic signature, e.g. AdobeSign) and then submitted to the seller for acceptance or counter-offer. If the seller accepts, they return the signed agreement to Caribbean Yachts, who forwards a copy to the buyer.
The deposit — the buyer wires the deposit (5 to 10% of the price) to Caribbean Yachts’ transaction account, in euros or US dollars. This amount is held in escrow until the vessel is accepted; if it is not accepted, it is fully refunded. The deposit validates the Purchase Agreement and commits both parties.
The marine surveyor — a survey is strongly recommended. Caribbean Yachts can provide a list of surveyors, though the choice may also depend on the insurance company. The survey can take place before the buyer’s visit or at the same time; survey and haul-out costs are the buyer’s responsibility.
Following the survey, the buyer has three options:
Accept the boat without reservation — the survey reveals nothing of concern, and the sale proceeds to closing.
Accept with contingencies — issues were identified (for example, repairs to be carried out at the seller’s expense, or a price reduction to offset technical problems found). Acceptance is then conditional on an agreement between the parties before proceeding.
Decline the boat — the buyer may decline the boat without having to justify the decision. The deposit is then fully refunded.
The bill of sale — Caribbean Yachts prepares the bill of sale and sends it to the seller for signature. The seller then returns the signed documents, the boat’s original papers, and the documents required to register the change of ownership. At the same time, Caribbean Yachts verifies that the boat is free of any mortgage or lien.
Payment — it is made according to the financial statement signed by the seller, generally paid directly into the seller’s account.
Transfer of ownership — once the seller receives the funds, the boat becomes the buyer’s property. Caribbean Yachts then handles the ownership transfer formalities, which we manage directly for French-flagged vessels. We remain at the buyer’s disposal afterward to assist with sailing, maintenance, and upkeep of the boat.
This is the process generally used; it may be adapted depending on the situation.
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