Deposit & Escrow Policy
1. Intent-to-Purchase Deposits
To reserve a vessel and remove it from our active digital showroom, the Buyer may be required to pay a flat-rate holding deposit (the “Deposit”) through our secure payment gateway. The receipt of a Deposit does not constitute a completed transfer of ownership, but serves as a formal expression of intent to purchase.
To reserve a vessel and remove it from our active digital showroom, the Buyer may be required to pay a flat-rate holding deposit (the “Deposit”) through our secure payment gateway. The receipt of a Deposit does not constitute a completed transfer of ownership, but serves as a formal expression of intent to purchase.
2. Marine Survey and Sea Trial Contingency
All vessel transactions are strictly conditional upon a mutually agreed Yacht Purchase Agreement. The Buyer retains the right to arrange, at their own expense, an independent certified marine survey and a mechanical inspection from keel to deck.
All vessel transactions are strictly conditional upon a mutually agreed Yacht Purchase Agreement. The Buyer retains the right to arrange, at their own expense, an independent certified marine survey and a mechanical inspection from keel to deck.
- Refundable Conditions: If the vessel fails to pass the marine survey, mechanical inspection, or sea trial to the satisfaction of the Buyer, the Deposit is fully refundable, minus any transaction processing fees or expenses incurred specifically for the sea trial (e.g., haul-out fees), provided written notice is given within the timeframe specified in the individual purchase contract.
- Non-Refundable Conditions: If the Buyer fails to execute the purchase agreement or withdraws from the transaction after the inspection contingency period has cleared without a verified structural or mechanical defect, the Deposit shall be deemed forfeited to the Brokerage and Seller as liquidated damages.
3. Final Asset Transfer & As-Is Status
Because marine vessels are high-ticket, pre-owned capital assets, traditional retail consumer return policies, credit card checkouts for full balances, and “exchanges” do not apply. Final funds exceeding the initial holding deposit must be settled securely via wire transfer, certified bank draft, or an authorized marine escrow account prior to the official transfer of the vessel’s title and registration. Once the final Bill of Sale is signed and delivery is accepted, all sales are final and the vessel is transferred in “as-is, where-is” condition
Because marine vessels are high-ticket, pre-owned capital assets, traditional retail consumer return policies, credit card checkouts for full balances, and “exchanges” do not apply. Final funds exceeding the initial holding deposit must be settled securely via wire transfer, certified bank draft, or an authorized marine escrow account prior to the official transfer of the vessel’s title and registration. Once the final Bill of Sale is signed and delivery is accepted, all sales are final and the vessel is transferred in “as-is, where-is” condition