Buying or Selling
Finding the ideal boat is a time-consuming process. Whether you’re at the just looking stage or you found your ideal boat, Latitude’s team of professionals can help you navigate through the purchase process at no cost.
Every boat preowned or new has benefits and drawbacks. Finding and buying the perfect boat can be an exciting journey which will bring you years of enjoyment.
First, you’ll need to ask yourself some basic questions to determine what boat would fit your needs:
- Determine your budget – not only purchase but ongoing costs
- Do you want new or pre-owned
- How do you plan to use your boat
- What type of boat do you want
- Will you be docking or trailering
- What are your engine choices
- What size boat fits your needs
A well maintained pre-owned vessel can provide many years of trouble-free boating. Professional Yacht Brokers have available resources to make the purchase process run smoothly and minimize your risks.
Once you have decided on the boat you want to buy, your broker will formally present your offer through a purchase agreement contract to the seller. The purchase agreement defines the details and conditions for the transaction.
During the Purchase Process, it is important to follow these steps:
- Search the MLS for your desired boat
- Select the vessel you want
- Make a formal offer (contract)
- Have seller accept your offer
- Schedule a survey (this is optional but recommended, usually required for insurance and financing)
- Sea Trial
- Review of the Deficiencies List from the Survey
- Acceptance or rejection of the vessel
- Full payment submitted (held in Escrow until closing)
- Obtain Insurance
- Documentation or Registration
Looking to sell is a totally different process than buying. Here again the Latitude team of professionals can help you get the highest financial gain from the sale of your boat.
The first thing we need to look at is the true market value of your boat. This step requires research and thorough evaluation. Determining the true value of your vessel among other factors is the key to success.
Many sellers struggle through this step listing for an unrealistic price that doesn’t reflect the real boat’s value and don’t see results while other boats sell.
At Latitude we have a process to determine what your vessel is worth and what it would sell for. We’re not looking to list your boat, we’re here to sell your boat.
We research the MLS market for comparable boats currently on the market and run reports on similar sold boats in the last twelve to eighteen months. We review the data with you and arrive at a true market value based on numerous factors. If you’re OK with the suggested selling price, we go through your boat from the buyer’s perspective and make recommendations to improve your vessel’s marketability.
It is usually a good idea and money well spent to have your boat detailed so the potential buyer gets a good first impression. The buyer may lose interest by an unfavorable appearance thinking it may be an indication to the overall maintenance of your boat.
We also recommend that you have maintenance records available for the buyer to review if they wish. This is also a good time to go over the boat and make any repairs that are needed. It is better to remediate now than to have a long Deficiencies List from the Survey. In some cases, you may want to have your own Survey performed and fix and mechanical issues discovered. This shows the buyer that you’re serious about selling and your boat’s maintenance.
Now you’re ready to sell and advertising is critical to get exposure.
- We create a professional listing detailing the boat’s features and specifications
- Capture professional quality photographs to show every aspect of your boat
- Record professional video of your boat
- Your boat is listed on YachtWorld MLS and other sites
- Your boat is listed on our website as a featured boat
- We run email blast to our list of customers, other brokers and professional resources
- We promote your boat through Facebook Ads
- Your boat is promoted through Instagram social media
- We run ads in local print media
- We place For Sale signs on your boat and use barcode technology so buyers can scan and download the sales brochure
Latitude is your local yacht broker and we have resident brokers covering South Florida and the Keys.
- Our brokers respond to every lead and we are available to show your boat by appointment seven days a week
- Send out monthly email blasts
- Review and provide you with a web traffic report of the inquiries on your boat
- Communicate all showings and present every offer
- Schedule and coordinate surveys and sea trials
- We attend every survey and sea trial on your behalf
- Review and discuss deficiencies discovered in the survey and assist you finding the resources to correct them
- We hold deposits in a dedicated Escrow account
- Handle the required contracts and documentation involved the closing process
Please consider having us represent you in your next purchase or sale.