Frequently Asked Questions
Clear answers to the most common questions from yacht buyers
This FAQ page brings together the questions we hear most often during yacht transactions. You’ll find straight, practical answers to help you feel fully prepared at every stage.
How long does the buying process take?
Do I need to be present for the survey and sea trial?
It’s recommended but not required. Many buyers attend in person, but remote buyers are fully supported; your surveyor and VYS Broker will walk you through everything by phone or video.
What does a survey include?
A marine survey typically covers:
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Structural integrity
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Electrical systems
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Mechanical systems and engines
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Safety equipment
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Electronics
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Rigging (for sailboats)
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Hull condition during a haul-out
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Full sea trial performance
Your surveyor will deliver a written report with findings and recommendations.
Who pays for the survey and haul-out?
What happens if the survey reveals issues?
You may:
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Accept the vessel as is
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Request repairs or credits
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Renegotiate the terms
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Withdraw from the contract -prior to Acceptance of Vessel (AOV)
Your VYS Broker will guide you on the smartest approach based on findings.
How does the offer and deposit process work?
Offer:
- Discuss an offer with your broker
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Broker writes up a Purchase & Sale Agreement
- Offer will either be negotiated or accepted by seller
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Once accepted by Seller a deposit (typically 10%) is placed in secure VYS escrow
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The contract becomes active and contingency timelines begin
Your deposit is fully refundable until you have signed an Acceptance of Vessel (AOV)
When should I arrange insurance?
Insurance should be arranged prior to closing. If it is an older vessel you should look into it prior to AOV. VYS can provide referrals to reputable marine insurers to help expedite coverage.
Do I need a captain or training after purchase?
Can you close on a boat without insurance?
Do I need to be present for closing?
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