Enable a “CPYB”- Certified Professional Yacht Broker- to represent you with your next yacht search and purchase... As Your Buyers Agent! When buying a boat, you may wish to be represented by a broker that is solely working for you. A yacht sales professional representing you will help strengthen your position in many ways. Assistance with negotiating the fairest deal possible will save you valuable time and possibly save you from making costly mistakes. A “CPYB”, Certified Professional Yacht Broker can make the process of finding and purchasing a satisfactory yacht a gratifying experience. Typically there is no cost to the buyer for this professional service: a buyers agent is paid only when a sale is made via commission. A large percentage of yacht sales are produced by this arrangement, the professional yacht sales community participates in cooperative efforts on behalf of their clients. As your “buyers agent”, your broker will protect your interest throughout the entire purchase process; below is a list of what to expect on your behalf: • Search for vessels that meet your criteria and are worth looking into • Research competitive market pricing and recorded actual sale data • Help negotiate a fair deal • Advise and help with the assembly of a competent professional survey team • Coordinate all schedules for the survey event, schedule short haul or launch with the boat yard • Renegotiate price/terms based on reasonable survey deficiencies • Negotiate escrows that may need to be established & hold funds in a client escrow account • Perform title search, order USGC abstract of title • Prepare official closing documents • Satisfy any and all existing loans/leans against the vessel prior to seller receiving net proceeds • Advise on sales tax laws that will vary by state • Prepare USCG documentation application and state registration paperwork • Secure proper deletion of registry on foreign flagged vessels and provide USCG deletion for vessels sold to non US citizens. • Provide finance and insurance options • Advise on shipping options where applicable or help with securing delivery captain & crew • Provide assistance with slip and storage options • Suggest maintenance services that are available for hire As a Certified Professional Yacht Broker, all transactions will be in accordance with our industry associations’ standards & code of ethics. Often a broker may represent the seller and the buyer and has dual agent responsibilities to both parties, this is very common and often a buyer is comfortable with this, It is prudent however to be assured that you are working with a Yacht Sales Professional that belongs to and abides by the code of ethics of one of the industry associations, there are seven; YBAA, FYBA, NYBA, CYBA, OYBA, GCYBA, BCYBA. One will be most assured of this when working with a “CPYB” Certified Professional Yacht Broker. CPYB credentials serve to assure buyers and sellers that the broker has met the requirements of industry knowledge, skill, and experience and ascribes to established standard practices and ethical conduct. If one should decide to use a “CPYB” as their “buyer’s agent” it is important that they make it known upfront in all discussions that they are being represented by a particular broker. Hopefully this article has provided a better understanding of your choices regarding representation when purchasing a brokerage yacht and the availability to enable a broker to work exclusively for you. For a complete list of Certified Professional Yacht Brokers, please visit cpyb.net Hal Slater, CPYB Brewer Yacht Sales Treasurer, Yacht Brokers Association of America
Posted on: Thu, 16 Jan 2014 05:19:17 +0000
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