Such a thing as a transaction coordinator?

[ryanandtracy]

So we have identified a boat that we would like to make an offer on. It is listed by a private party and not a broker. We are not working with a broker.

Is there such a thing as a "transaction coordinator"? I know there is in real estate. They work for a smaller amount as opposed to the "normal" commission to process paperwork, handle escrow and bring the deal to closing. It may be called something different in the boat business.

If there is, does anyone have a recommendation? Boat is in S FL if it matters.

[RaymondR]

Yep, there are folks who act as "transaction coordinators" they are called "brokers".

There is absolutely nothing to stop you from engaging a broker to advise you on the purchase, call a few of them and ask them if they would do so on an hourly rate.

[tkeithlu]

I Googled "Miami yacht escrow" and got several listings.

[belizesailor]

Some documentation services offer escrow services too or can refer you to an escrow service. Many attornies maintain escrow accounts too.

[john61ct]

documentation service

and marine-experienced lawyers

are often required in addition to what brokers offer

[Boatguy30]

Boat US offered a basic service, but it's fairly straightforward. Easiest is to give a reasonable deposit say 5% for private deal prior to survey. Then have the closing at a branch of your bank. Sign over the documents and have the bank notary certify them.

[john61ct]

Here is a thread where people have posted example sales contracts, would be fantastic if more members could do so

http://www.cruisersforum.com/forums/...te-227050.html

[Robby1077]

ASAP in Florida is a boat closing office. They may be able to help.

[Niall leslie]

For what it is worth.......

A good lawyer should be able to help and ensure that both parties are protected.
I recommend that an offer is made " subject to survey and inspections " then if you desire any additional inspections beyond those of a qualified marine surveyor their opinions are valid as well.
( i.e. engine inspection and testing by a technician is an item typically not thoroughly carried out by a surveyor. They usually don't have the training, tools and equipment to test for example diesel compression, leak down testing or oil analysis ).
Cheers,
Niall.

[Orion Jim]

Originally Posted by Niall leslie

For what it is worth.......

A good lawyer should be able to help and ensure that both parties are protected.
I recommend that an offer is made " subject to survey and inspections " then if you desire any additional inspections beyond those of a qualified marine surveyor their opinions are valid as well.
( i.e. engine inspection and testing by a technician is an item typically not thoroughly carried out by a surveyor. They usually don't have the training, tools and equipment to test for example diesel compression, leak down testing or oil analysis ).
Cheers,
Niall.

Good advice. When you hire the lawyer your funds are safe in his escrow account and it’s best to hire a lawyer who is in a fairly large firm as they have in-house protocols which MAY keep your funds safe. There are shady individuals but a firm would likely make good on compromised funds.