Most yacht sales contracts are fine. A few are not. Here are the five questions a buyer should always answer in writing before signing.
1. What survey contingencies are written into the contract?
Standard practice: the contract is contingent on a satisfactory marine survey and sea trial. “Satisfactory to the buyer” is the phrase you want. If a contract limits your survey objections to “material defects” only, you’re losing leverage.
2. Who pays for the haul-out and where does it happen?
Survey haul-outs cost real money — typically $500–$1,500 plus yard time. Standard practice: buyer pays. But the yard choice matters too. Some yards will pressure the surveyor or rush the inspection. A neutral, buyer-chosen yard is worth specifying.
3. What’s the documentation status?
Is the title clear? Is the boat USCG-documented or state-registered? Are there any liens? A pre-purchase title search runs $50–$200 and is non-negotiable on any boat over $50K.
4. What warranties or pre-paid services transfer?
Some sellers have pre-paid factory warranties, slip leases, or service contracts that may or may not transfer. Get this in writing. Same for any pending warranty claims on engines, electronics, or hull.
5. What’s the deposit refund structure?
Standard: deposit is held in escrow, refundable if the boat fails survey or if the buyer rejects in good faith within the contingency window. Make sure “good faith” isn’t defined so narrowly that you can’t walk away from a deal you no longer want.
The bigger point
Most brokers run clean. But the contract is the last place you want to be polite. Ask in writing. Get answers in writing. If you’re working with a broker who pushes back on basic protections, you have your answer about the broker.