Marine Forum

Buying a yacht in the Eastern Med

Donno45

03 September 2009 13:13:20

Joined: 03 September 2009 12:57:52 | Posts: 1

I am interested in buying a second hand yacht about 38 feet long in Croatia, Greece or Turkey in the next few months with a view to storing it for winter and then sailing in the Ionian/Aegean Seas as live-aboards for next summer and beyond. There are a number of questions I would like to settle before committing and would appreciate comments from any who have gone before:

What fees (and about how much) does the buyer have to pay:
•       Brokerage (only paid by seller?)
•       Marine surveyor inspection?
•       Haul-out fees?
•       Legal fees for preparation of sale agreement or settlement?
•       Anything else?
Are the prices stated in the online listings the full price of the vessel including all fees and taxes?

I assume the steps involved in the purchase are:

•       Initial in-water inspection.
•       Buyer makes an offer (subject to full inspection) and a sale agreement is written. Deposit (10%?) is given to the broker and held in trust.
•       Seller accepts the offer.
•       Boat hauled out for hull inspection.
•       Settlement of sale by transferring the balance of the purchase price.

What are the steps required to change the ownership details with authorities in those countries and what costs are involved?

Are there any other issues a buyer needs to be aware of ?