How We Sell Your BoatScroll for more
How We Sell Your Boat
We will market your share for as long as it takes to sell, sometimes this is very fast – overnight is not unusual – and sometimes it takes a long time. Our philosophy is that all shares will sell.
The right boat in the right place at the right price will sell readily.
Fee – We charge 6% + VAT on a no sale no fee basis – see our full Terms and Conditions
To market your share we require;
- Your name, address, phone numbers and email
- Full details of the boat
- Location of the boat and mooring arrangements
- Size of share
- Asking price of share
- Annual running costs – this should include: moorings, insurance, normal routine maintenance, some provision for annual upgrades and replacements but not major capital investment.
- A good selection of photos
If it is a boat which is new to Yacht Fractions and so we do not have a history of ownership we will need to see proof of ownership and VAT status and your share agreement.
Before you market your share you should inform the other owners that you wish to sell. Many share agreements allow the other owners the right to buy a share at a fair market value.
You can let us have the details:
- By completing our on-line ‘Add your boat’ If your boat has been for sale previously with Yacht Fractions then there will probably be an archive file which the system will offer you to update.
- By sending an email with a Word document with the details and jpg images
- We can send you a form to complete and return by mail or email.
- We will then vet the content, get you to approve the content, and then put it live on the website.
- Once we have attracted a potential buyer we will contact you by phone or email with details of their experience and qualifications, and any specific requirements they may have which are important to their purchase. Typically this is a need for school summer holidays which not every group is able to offer.
- We will ask your permission to release your contact details to the buyer.
- We will give the buyer your contact details and ask them to contact you.
- Please be patient with us – we receive a number of enquiries from individuals who, after initial contact, sink without trace. Please be assured that we do our best to qualify the enquiry before passing them on to you, and do follow up if they don’t respond.
- If the boat is in the UK then this will hopefully result in an arrangement to view the boat. If the boat is abroad the majority of shares are sold unseen.
The deal will be agreed through Yacht Fractions and will involve:
- Completion date
- Any conditions which need to be fulfilled prior to completion, these will include:
- Acceptance into the group by the other owners
- Acceptance as skipper by the insurance company
- Acceptance of the share agreement by the buyer
- Any other items specific to the transaction
If there is to be a delay in completion between agreeing the deal and completion then Yacht Fractions will issue a Sale agreement which will take a 10% (min £1000) deposit. It will define the conditions under which the deposit could be returned to or forfeited by the buyer.
At the point of completion, Yacht Fractions will raise a bill of sale
Once Yacht Fractions is in possession of Bills of sale from both buyer and seller, and the purchase funds the completion will take place. The seller will be paid [less our fee], and the bills of sale exchanged between both parties.