The boat buying process…

Once we've identified the boat of your dreams, the next step is making an offer. I will help you determine a fair offer price, outline contingencies, and submit the purchase agreement. The Seller may accept your offer or respond with a Counteroffer. Once both parties agree to the terms and sign the Offer to Purchase Agreement, you’ll typically place a 10% deposit in our brokerage’s escrow account, refundable according to the terms and contingencies of your agreement.

Common contingencies include financing approval, a marine survey to assess the vessel’s condition both in and out of the water, a sea trial to evaluate its performance underway, and specialized inspections of the engines and, for sailboats, the rigging. These inspections can often be coordinated for the same day. I will provide recommendations for qualified surveyors, and you’re welcome to select your own.

If the inspections reveal significant issues, I can help you request repairs or negotiate an adjustment to the purchase price. When all contingencies have been satisfied and you’re ready to proceed, you’ll sign the Final Acceptance. At this stage, your deposit generally becomes non-refundable, subject to the purchase agreement, and the closing process begins.

We work closely with a professional closing company to coordinate the title search, confirm any outstanding loan payoff, and handle ownership transfer and release-of-liability paperwork. From your first offer to the moment you take ownership, I will guide you through each step so you can begin your next adventure with confidence.For more information about the closing process you may contact Bernadine Trusso directly at Done Jenkins Maritime Documentation Services.