Preparing for Successful Showings
Once your boat is listed, showings are key to attracting serious buyers. It’s essential to always keep the boat in show-ready condition: clean, uncluttered, and ready to impress. Buyers often make quick judgments, and a well-maintained, inviting boat encourages them to move forward. To streamline the process, we’ll ensure listing information, such as key details and inventory, is readily available on the boat for prospective buyers to reference.
Flexibility is also crucial when accommodating showings. Buyers often have limited schedules, and the boat being available can make the difference between securing interest or missing out. By making your boat easily accessible and presentation-ready, we’ll create an environment where buyers feel confident exploring its potential.
Handling Offers with Patience and Perspective
Receiving an offer is always an exciting step, but it’s important to remain patient, especially if the initial offer is low. Just as many seller start with an asking price that is too high, many buyers start with a “lowball” offer in hopes of negotiating a better deal. While this strategy isn’t ideal, it’s common, and often not a reflection of their true intentions. Instead of taking it personally, treat it as an opening for negotiation. With clear communication and a steady approach, low initial offers can often lead to a fair and mutually beneficial agreement. Remember, the goal is to keep the conversation going and work toward a successful sale.
Survey & Sea Trial: Demonstrating Your Boat’s Value
Once an offer is accepted, the survey and sea trial are the next critical steps. These provide buyers with a comprehensive understanding of the boat’s condition and performance. We’ll coordinate with the buyer’s surveyor to schedule a suitable date, and if you’re unable to attend, hiring a captain to run the boat is an excellent option. During the sea trial, the boat will be run at full RPM, and all systems, engines, generators, electronics, plumbing, and more will be demonstrated.
If possible, it’s a great idea for you to be present. Nobody knows your boat like you do, and your insights can help answer questions and address concerns as they arise. A well-executed sea trial not only reassures the buyer but also strengthens their confidence in their decision to move forward.
Post-Survey Negotiations
It’s important to understand that the surveyor’s job is to find issues, big or small. Even the best-maintained boats will have items flagged during the survey process. This is normal and part of the journey. The key is to remain calm and approach any post-survey negotiations with a clear plan.
The Importance of the Acceptance of Vessel Document
The Acceptance of Vessel document is a critical milestone in the sale process, as it marks the point where the buyer is fully committed to moving forward with the purchase under the agreed-upon terms. Before signing this document, the buyer has the unrestricted ability to walk away from the deal for any reason, and their deposit is fully refundable. However, once the Acceptance of Vessel is signed, the buyer’s deposit becomes non-refundable, and they are contractually bound to proceed toward closing.
While it is rare, a buyer could still fail to close after signing this document, but doing so comes with significant financial consequences. For the seller, this means it is not over until it is over. Understanding this distinction is crucial, especially if you are making plans to purchase another boat, reinvest funds, or move forward with other financial commitments based on the anticipated sale.
As a Certified Professional Yacht Broker (CPYB) and an experienced negotiator, my job is to ensure that any potential pitfalls that could derail a deal are identified and addressed early. This proactive approach minimizes risk and increases the likelihood of a smooth and successful closing. If you want to better understand the buyer’s perspective during this process, I encourage you to read the Buyer’s Guide, where we break down what happens on their side of the deal.
