Info Purchasing a Ship
DOEVE BROKERS AND VALUERS YACHTS, BOATS AND SHIPS Est. 1972
When you want to purchase a vessel you have to take the following in consideration:Purchasing a vessel is often a very emotional event. The love of a vessel can create temporary blindness. So, before you are tempted to make an offer the first time you have seen the vessel, request an option of a few days. Then you have the time to think things over properly and to see the vessel a second time.
When you do make an offer, specify certain conditions under which your offer is made. Always request a technical check-up and a inspection of the bottom of the vessel (has to be equal to the demands of the Dutch insurance companies) and state, if relevant, that your offer is valid only when financing is accepted.
Memorandum of Agreement
Survey is done, take over the ship
What can Doeve brokers do for you?
Memorandum of AgreementWhen both parties have an agreement about the price and the conditions, the Memorandum of Agreement can be made up. The Memorandum of Agreement has to be undersigned by both parties and when signed the Purchaser must pay to the Broker a deposit of 10% on his Third Party (Escrow) bank account (only when that Broker is certified as a "Qualified Yacht Broker"). In case there is another agent involved, the deposit money should be paid on the quality bank account of a Nautical Notary Public of your choice.
SurveySurvey is the next step. You can hire a certified surveyor and instruct him what he has to do, or a part or a full survey of the vessel. If you want to have a complete overview of the engine(s), you have to hire a surveyor who is able to measure the compression and also can look inside the engine with an endoscope.
ValuationIf you need for financing a valuation report, choose a surveyor which is also certified as appraiser and is known by your financing institution so that the appraisal or stated value will be accepted by them.
EU legislationIn the case you want to purchase a vessel for inland waterways which has a length of 20 till 40 meter and this vessel has not the new certification under the new EU legislation, you have to hire a special surveyor who is allowed by an EU Government to do surveys for this kind of certification.
Fundamental defectsIf during the survey, in the eyes of your surveyor, fundamental defects are found which are essential items, than discussions must take place with the seller about the costs. In principle the costs of the necessary repair will be negotiated about the original quoted or sale price. When sudden problems where already known by the purchaser in advance, there cannot be negotiated about the price.
DisapprovalWhen your surveyor concludes that there are problems identified so bad that they cannot be repaired, or the quality of the vessel is such that the vessel cannot function as originally intended, the vessel will not be approved. You will get your deposit back a.s.a.p., but you still have to pay the surveyor and the yard.
Survey is done, take over the shipSurvey is done, and you as purchaser agree to take over the vessel in its current condition, you can pay the remaining amount on the same way as earlier mentioned and take the vessel over in your possession. On that day you have to start with a new insurance on your name.
Registration shipIf the vessel is registered, in the case of the Dutch Z-seagoing or B-inland vessels (the Registry is the registry office recording the legal title of the vessel), the name can be changed indicating you as the new owner. Be aware, not every vessel is registered. This will give extra costs for a Purchaser (Broker or Notary Public and Registration costs). In the case a Purchaser wants to export the vessel that registry can be deleted. Often it is interesting for foreigners to keep registered or to do a new registration in the Dutch B-Register, then your vessel has a Dutch flag and is able to sail through Europe without any possible problem. Our Brokers can inform you about this matter.
When a vessel is registered in a foreign Register we are mostly able to do research in that Register about the status quo of the ownership and we can advise you how to handle.
What can Doeve brokers do for you?Assistance when you want to purchase a vessel in the market, you can hire us to do everything for you what is necessary to get the vessel that you want to purchase in your possession. Even you can hire us to look around for a specified vessel and to do all the work in advance before you come over to our country.
DOEVE BROKERS AND VALUERS is registered Yacht and Ship Broker. All actions in the B-Ships registration process can be handled by our office at a lower cost than a Notary Public. Z-registration has to be done by a Notary Public.
You can hire us for appraisals, even International. We are "Qualified Appraisers", even we can assist you in finding the right boat insurance.
Almost all our listings are inspected by our staff and we give straightforward information about those listings. We issue always a clear sale and purchase Memorandum of Agreement, all agreements between parties are noted in writing.
With DOEVE BROKERS AND VALUERS you have made the right choice,
clarity is our motto!!
clarity is our motto!!