Submitting Boat Offers
We have received your offer and client information form.
What to Expect Next...
Q: What happens after I submit a boat offer?
After you submit an offer, you’ll receive an email with the Offer and Purchase Agreement for your review. This document outlines the purchase price, deadlines for acceptance and inspections, terms for survey and sea trial contingencies, and target closing dates.
To approve and submit your offer, simply follow the eSign instructions in the email. Once signed, your broker will promptly present the offer to the seller for consideration.
Q: When is my 10% escrow due?
Upon acceptance of your offer, a good faith deposit equivalent to 10% of the purchase price must be submitted within three (3) business days. Failure to meet this deadline will result in forfeiture of your offer.
For yacht purchases exceeding 2 million, selling parties typically require a 10% escrow deposit before entertaining an offer.
Rest assured, you will receive wiring instructions via email from the J Brothers Yachting team closing department team once your offer has been accepted.
Q: When do I schedule my Survey and Sea Trial?
After your offer is accepted, your purchase agreement will indicate an "Acceptance Date". Before or on this date, it is essential to provide the seller with either an acceptance or rejection of the vessel following the survey and report process.
The survey entails a comprehensive inspection of the vessel, typically conducted by a certified surveyor. It involves a sea trial, haul-out to assess the condition of the hull and propulsion systems, as well as a mechanical survey.
Rest assured, you will receive an email containing survey details, including a list of licensed surveyors near the location of the vessel. It is the buyer's responsibility to choose a suitable surveyor who meets their specific inspection requirements.
You can begin searching for surveyors at Marine Surveyors: www.MarineSurvey.org
SAMS® shall have three primary classes of membership: Accredited Marine Surveyors, Surveyor Associates, and Affiliate Members.
Q: When should I expect to close my boat after acceptance?
Once the buyer accepts the vessel, closing typically occurs within 5–7 business days. Similar to a real estate title company, the process includes preparing the bill of sale, confirming a clear title, handling state registration and use tax requirements, and producing buyer and seller settlement statements.
If financing is involved, allow a little extra time — most closings with bank funding are completed within 7–10 business days after vessel acceptance.
Additional Questions, please visit our FAQ page or contact us directly
Call 1-844-448-2628 or email us at info@jbrothersyachtsales.com