Frequently Asked Questions (FAQ's)
What is the process of working with a broker and finding my yacht?
1) Find the boat. Work with your broker to find the right boat/yacht for you! Determine how you are going to use her and where you want to go. Other considerations such as budget, dockage, insurance, etc.
2) Make an offer, complete details of sale, set up survey and sea trial. Your offer should be made with the expectation that items mentioned on listing are functioning and a clear understanding of the items included in the sale. Unexpected issues that are discovered on survey are usually best addressed by a price adjustment.
3) Close and take ownership of your new boat to enjoy.
Where are the deposits held?
Florida brokers are licensed and bonded. Deposits are held at a FDIC insured Nationally-chartered bank in a segregated escrow account much like real estate. Refund of the deposits is described in the sales agreement.
Can you recommend a surveyor?
Most brokers do not recommend surveyors but may provide a list of SAMS or NAMS surveyors. Insurance and financing companies usually require that they belong to one of these two organizations.
What about insurance/financing/transport?
We have a list of vendors that you can contact for quotes and assistance. Look on our Helpful Links page that's on the left side of this page.
Can I go for a test ride before we complete the sales agreement?
Typically the price needs to be agreed to before a sea trial and deposits are usually fully refunded if not satisfactory.
If I live outside of FL, do I have to pay FL Sales Tax?
The Florida Department of Revenue provides a "cruise permit" for buyers who can prove that they reside outside the state. This permit gives the buyer 90 days to remove the boat/yacht from FL waters before becoming liable for the sales tax. The cost of this permit is $25. There is also an extension for another 90 days that can be purchased for $400 more. We provide sample copies of the letters that the Department of Revenue will send you so you know what to expect. You will need to provide proof that the boat/yacht has been moved out of FL. Contact us and we can discuss further.
Why do you use "wire transfers"?
To speed up the process for both buyers and sellers, the wire transfer is preferred as there are very short clearing times and transfers typically occur the same day they are sent. In today's world, banks will even put holds on cashiers checks which can delay closing. The wires also provide a level of security that checks cannot in today's world.
Premier Yacht & Aircraft Sales