HOW TO BUY A LUXURY YACHT FAQS
YOUR QUESTIONS ANSWERED
Buying a superyacht can be a complicated process. However, when you choose to work with TJB Super Yachts, you gain access to a streamlined superyacht sales process facilitated by our expert consultants. With extensive industry knowledge and a global network of contacts, our consultants are dedicated to understanding your needs from the very beginning. From providing a curated list of yachts that match your unique requirements to arranging viewings and offering tailored advice, we guide you through the entire superyacht acquisition process, covering areas such as financing, class and compliance, surveys, yacht management, and more.
HOW TO USE A BROKER TO BUY A SUPERYACHT?
Buying a superyacht can be a complicated process. When you work with a TJB Super Yachts’ consultant, you will benefit from a streamlined yacht acquisition process.
Our yacht sales consultants boast deep industry knowledge and a global network of contacts. From your first point of contact, we listen to your needs and then respond accordingly. Your personal yacht sales consultant will provide you with a list of yachts that match your needs, then arrange viewings. They will offer tailored advice throughout the yacht acquisition process, including advice on financing, class and compliance, surveys, yacht management, and much more.
HOW LONG DOES IT TAKE TO BUY A SUPERYACHT?
The longest part of buying a superyacht is usually finding the right one that meets your needs. Your personal TJB Super Yachts consultant will be able to advise on types of yachts and set up viewings as soon as they understand what will fit your requirements.
Once you’ve made your choice, it is then a matter of getting surveys and inspections done, submitting a formal Letter of Intent, and arranging financing. You can expect this process to take around six to eight weeks.
ARE YACHT SURVEYS AND SEA TRIALS COMPULSARY?
While surveys and sea trials are not compulsory when you buy a superyacht, they are a standard part of the yacht acquisition process, and we strongly recommend getting them done.
Surveys and sea trials provide an important overview of the yacht’s condition, and some financial institutions may insist upon them. TJB Super Yachts work with some of the best independent surveyors and engineers. To avoid any conflict of interest, we will guide you to their services, enabling you to have a fully independent survey carried out.
WILL MY SUPERYACHT BE COVERED BY WARRANTY?
Manufacturers offer warranties for a set amount of time on a new-build yacht. If the superyacht you are purchasing is still within its warranty period, it will be transferred to you as the new owner.
However, most brokerage yachts are purchased based on the condition and findings of the professional pre-purchase survey and therefore do not have warranties.
WHEN I BUY A SUPERYACHT, WHAT PAPERWORK WILL I RECIEVE?
When you buy a superyacht, you will receive a Memorandum of Understanding, which sets out the terms and conditions of the sale.
You will also receive the Bill of Sale, which records the transfer of legal title from the seller to the buyer, and the Protocol of Delivery and Acceptance, which specifies the agreed upon time and date of transfer of ownership and funds. Your personal yacht sales consultant will advise you accordingly, ensuring your best interests are protected throughout this entire process.
HOW IS THE GOVERNING LAW DECIDED WHEN I BUY A SUPERYACHT?
The buyer and seller will decide together which country will govern the purchasing process, and this is often a country where neither party resides. It is common for English law to be chosen when buying a superyacht.
DO I PAY VALUE ADDED TAX WHEN I BUY A SUPERYACHT?
The topic of VAT can be complex and depends upon where your superyacht is to be kept. TJB Super Yachts’ team of yacht sales consultants can put you in contact with specialist maritime VAT lawyers who will look into all the factors and advise you accordingly.
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